Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. 

The S&P 500 futures fall 1.5% amid US-China trade concerns and Fed warning; over 100 companies will report earnings this week. Gold hit a record ~$3,375, up 1.43%, on safe-haven demand amid tariff and geopolitical worries. Fed hawkishness may cap gains. CoinDesk Indices, which tracks the broader crypto market, rose 1.80% in the past 24 hours, while Bitcoin and Ether gained 2.70% and 3.41%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is STX, up 9.4%, following the announcement of Stacks gaining institutional support with major exchange listings and custodian backing.

Stacks (STX), founded in 2013, is a cryptocurrency project that enhances the Bitcoin blockchain by enabling decentralized apps (DApps) and smart contracts without altering Bitcoin's features. It operates as a Bitcoin Layer 2 (L2) blockchain, ensuring security through Bitcoin while allowing developers to build modular applications on top of the network. 

 with its listing on top 15 exchanges, the launch of the Grayscale STX Trust, and support from top-tier custodians like BitGo, Copper, and Figment.

Check out the latest prices, charts, and data of 

Canary Capital has filed with the SEC to launch a U.S. Tron (TRX) ETF that would include staking benefits, allowing investors to earn extra yield. This proposal is part of a broader trend, with Canary also seeking approval for ETFs based on assets like XRP, Solana, and Sui. The fund would aim to provide exposure to Tron’s price, but the SEC has yet to approve staking in crypto ETFs. This move follows the success of Bitcoin and Ethereum ETFs, which have attracted significant institutional interest.

During the week of April 14–18, 2025, U.S. Bitcoin spot ETFs recorded a modest net inflow of $13.7 million, entirely from non-GBTC products, as GBTC saw no activity. Since inception, total net inflows have reached $35.5 billion, with non-GBTC ETFs contributing $58.3 billion and GBTC experiencing $22.8 billion in outflows.

Orochi Network airdrop participants can now 

 their earned $ON tokens on the Monad Testnet to increase their Bonus Level and earn rewards faster. A minimum of 50 ON is required for the first claim, and subsequent claims have no minimum. New users can still join by signing up and starting the Prover. Daily check-ins open at 6 AM UTC and fill up quickly.

Beginner

2.png

Canary Capital files for SEC approval of Tron ETF with staking benefits

There are a total of five ways you can buy USDC on Bybit: via Bybit P2P, Bybit One-Click Buy, Auto-Invest, Bybit Card and Bybit Convert. Learn more here.

 that maintains a 1:1 value with the US dollar through full reserves held in regulated financial institutions. This stability makes USDC an attractive option for traders looking to participate in the crypto market with reduced price volatility.

In this guide, we’ll explore the multiple ways to buy USDC on Bybit, detailing five distinct purchasing methods tailored to different preferences. You'll also discover practical applications for your USDC holdings, from trading opportunities to payment solutions and investment strategies.

Whether you prefer trading directly with other users or making quick purchases with a credit card, there's an option for you. Let's examine each method in detail.

 allows individuals and businesses to buy and sell USDC via peer-to-peer mode without intermediaries. You simply transact with another trader to purchase or sell your crypto with zero fees.

There are two main parties on the P2P platform — makers and takers. Makers place ads for buying or selling cryptocurrency, while takers are the users who place orders through the existing ads created by makers. Neither makers nor takers pay any fees on completed orders.

If you decide to go the P2P route to buy your USDC, you can either place a buy ad as a maker, or select an existing offer as a taker. Placing ads is completely free, although specific trading activity requirements exist. If you're a beginning trader on the platform, and want the easiest way to purchase USDC, selecting an offer from an existing ad as a taker is probably the preferred route.

If you need to trade USDC in large volumes (typically tens or hundreds of thousands of USDC per transaction), you may also choose to consider 

, which offers high order limits — up to $200,000 per order — as well as expedited transaction processing.

 feature to complete your USDC order efficiently. HotSwap combines offers from P2P traders with liquidity options from third parties, potentially delivering more choices and options.

Steps for buying USDC via the standard P2P option

2. How to buy USDC via Bybit One-Click Buy

The One-Click Buy service lets you quickly purchase crypto using several supported payment modes: P2P, bank card payments, third-party payments and your account's fiat balance. You can use a credit or debit card (including the Mastercard-powered 

), bank transfers, Apple Pay, Google Pay and other payment methods.

 is another way to purchase USDC on Bybit. The Auto-Invest option allows you to automatically buy crypto at regular intervals using the popular 

Bybit Card is a Mastercard crypto debit card that allows you to make online payments. The card is available to users in specific regions — EEA and CH, AIFC, Australia, Brazil and Argentina — with more locations to be added in the future. It's accepted by more than 90 million merchants within the Mastercard network. Upon successfully applying for your Bybit Card, you may proceed to 

 while you order and wait for your physical card to arrive. 

It's easy to buy USDC using the Bybit Card, as you enjoy reward features like loyalty points and cashback for USDC transactions. The steps for buying USDC using the Bybit Card are nearly the same as shown above in the One-Click Buy section, the only difference being that you'll need to specify your Bybit Card as the preferred payment method.

 lets you easily swap crypto assets without directly trading through the P2P route or other channels. Using Bybit's order books, the platform matches your order with current suitable orders and executes the requested swap. By leveraging Bybit's vast trading volumes and activity, Bybit Convert enables swift and efficient swaps.

If you have non-USDC crypto funds in your account, you can take advantage of the 

 function to buy the stablecoin as follows:

Steps to for buying USDC via Bybit Convert

USDC is more than just a stablecoin for trading; it offers various applications within and beyond the Bybit ecosystem.

USDC serves as a reliable base currency for trading various cryptocurrencies on Bybit.

Trading with USDC helps mitigate volatility risks between trades, as its value remains stable at approximately $1, allowing traders to preserve capital during market downturns.

USDC has emerged as a popular payment method due to its stability and wide acceptance.

Platforms on which users can make USDC payments include Travala for travel bookings, Newegg for electronics, and various crypto-friendly merchants via payment processors, such as BitPay and Coinbase Commerce.

USDC offers various investment opportunities on Bybit and beyond.

The benefit of investing with USDC is that your principal amount remains stable while generating returns, which is particularly attractive in volatile market conditions.

USDC combines dollar stability with digital efficiency on the Bybit platform. This guide has detailed five ways to purchase USDC, and explored its versatile applications for trading, payments and investing. Armed with this knowledge, you can confidently navigate Bybit's ecosystem and make the most of what USDC has to offer.

how to buy usdc.png

A complete guide on how to buy USDC on Bybit

Apr 21, 2025: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly highlight — Trump wants to fire Powell? 

US president Donald Trump is actively considering firing Federal Reserve Chairman Jerome Powell, following Trump's public criticism of Powell for not moving quickly enough to reduce interest rates. National Economic Council Director Kevin Hassett confirmed that the administration is examining this option, suggesting that Powell's actions have politically favored Democrats. Hassett argued that the Federal Reserve's decision to raise interest rates shortly after Trump took office was intended to undermine the economic impact of the tax cuts implemented during his administration, which were deemed inflationary. He further criticized the Fed for not addressing inflation concerns stemming from federal spending under President Biden, implying a lack of accountability.

During a recent press conference, Trump conveyed his dissatisfaction with Powell, asserting that if he wanted to remove him, it could happen "real fast." While he did not explicitly state his intention to dismiss Powell, his remarks highlighted the growing tensions between the White House and the Federal Reserve regarding monetary policy. Hassett defended Trump's frustrations, advocating for a focus on economic policy rather than interpersonal conflicts. This situation underscores the complex dynamics between the executive branch and the central bank, as Trump navigates economic challenges leading up to the next election.

Weekly crypto highlight — XRP ETF coming

HashKey Capital has officially launched the HashKey XRP Tracker Fund, marking the first investment fund in Asia designed specifically to track the performance of XRP, the digital asset integral to Ripple's global payment ecosystem. This fund is aimed at professional investors and offers a unique opportunity to gain exposure to XRP without the complexities of direct asset management. Investors can subscribe through cash and in-kind options, with the fund providing monthly liquidity.

Ripple, as an early backer of the fund, is looking to enhance its strategic partnership with HashKey Capital, which already manages Hong Kong–listed spot ETFs for Bitcoin and Ethereum. This collaboration not only solidifies Ripple's presence in the Asian market, but also opens avenues for future financial products, such as the potential tokenization of a money market fund on the XRP Ledger. Fiona Murray, Ripple's Managing Director for the Asia-Pacific region, highlighted that this partnership is part of a broader strategy to introduce more regulated cryptocurrency products for institutional investors in the region, aiming to foster a more robust crypto landscape in Asia.

Advanced

21 Apr 2025 weekly newsletter.png

Weekly Institutional Insights: Trump’s desire to fire Powell might induce volatility; XRP ETF coming

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards.

Daily top performer — Pyth Network (PYTH)

The S&P 500 dropped 1.5% to 5,282.70 this week, down 5.9% in April and 10% year-to-date, led by tech losses. Real estate and energy outperformed, while political pressure on Fed Chair Powell and inflation concerns weighed on sentiment. Gold dipped 0.6% to $3,319 after a record high, as Powell’s stagflation warning tempered its rally. Despite the pullback, the uptrend remains intact. The Coindesk Indices, which tracks the broader crypto market, are up by 0.77%, with Bitcoin and Ether rising 0.64% and 0.72%, respectively, over the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is PYTH, up 10.1%, following the launch of Pyth Entropy for secure on-chain random number generation by Soneium.

Pyth Network (PYTH),  is a blockchain oracle system that delivers real-time crypto price data to blockchains, enabling smart contracts to react to market changes. Soneium 

 Pyth Entropy, a tool for securely generating random numbers on-chain. Two apps, HandsNFT AI and 2p2e, are already utilizing Pyth Entropy to create unpredictable and engaging experiences.

Hong Kong's Securities and Futures Commission (SFC) has approved a new Ethereum ETF with staking capabilities, allowing institutional investors to earn staking rewards. This approval follows recent changes to local laws, with China Asset Management (ChinaAMC) partnering with OSL Digital Securities to launch the ETF by May 15. The ETF will offer exposure to Ethereum staking, transforming it from a passive investment into an active participant in the Ethereum network. The staking process is powered by Kiln, with OSL providing custody and insurance services. The rewards will contribute to the ETF's net asset value, benefiting shareholders.

Yesterday, Bitcoin spot ETFs saw $25.9M in inflows, all from non-GBTC funds, while GBTC recorded no flow.

" and a points campaign called Drops, where users can earn points—potentially leading to an airdrop—by engaging with Linera content on X. To join, sign up on 

, complete tasks like joining Discord and interacting on X, then enter the campaign. Keep engaging to earn more points, but avoid spamming.

1.png

Hong Kong approves Ethereum ETF with staking rewards, boosting institutional participation

Bybit Learn

Trading

Turtle trading is a strategy traders can use to take advantage of sustained momentum in trading markets. Find out whether it works for the crypto market here.

Investors have been developing new strategies to guide their trading decisions for hundreds of years. Over time, new strategies are developed, intriguing investors searching for the right tool that allows them to corner the market and bring in high returns. 

One such strategy involves "turtle trading," which was first developed in the early 1980s and has since become popular among investors of all experience levels. Before you consider implementing this strategy, let’s learn more about how it works and whether it can be used for the crypto market.

Turtle trading is a strategy traders can use to take advantage of sustained momentum in trading markets. The goal is to follow set rules on making trades that limit the role of emotions during your decision-making process.

This strategy has been employed across a wide range of different financial markets. Traders who use this strategy attempt to find breakouts among various assets regardless of the price movement (up or down).

The turtle trading experiment was developed primarily by Richard Dennis

. Dennis trained 14 separate "turtles" on how to follow rules — instead of using their “gut feelings” when making decisions. The methodology behind this experiment, as well as the results that occurred, would lead to the development of turtle trading as a legitimate decision-making strategy.

Turtle trading’s extensive experiment began in the early 1980s. It was created by two commodity traders who wanted a more effective futures markets trading strategy. Here's a closer look at the origins of the turtle trading experiment, as well as how the experiment ended.

In the early 1980s, Richard Dennis was already an established commodity trader who had garnered a considerable amount of success. When he first started out, in the early 1970s, it's said that he borrowed $1,600 to make investments and reportedly earned $350 million in just six years. Dennis and his trading partner, William Eckhardt, would routinely discuss their success with commodity trading, and how to improve it.

Dennis believed that any individual could effectively be taught how to trade on the futures markets. On the other hand, Eckhardt believed that Dennis had a talent that allowed him to be successful as a commodity trader and to profit from his profession. Dennis decided to settle the debate by creating an experiment to prove his hypothesis.

The turtle experiment acquired its name after Dennis referred to his students as "turtles.” After a two-week training period during which he taught his students the rules associated with his trading system, he provided participants with his own money. The purpose of the experiment was to impart new investors with a completely mechanical technique for making investments.

Dennis’s rules were designed to assist traders in removing emotion from their decisions. The underlying concept behind both experiment and methodology was to ensure that traders would base their decisions solely on predetermined rules, without taking any other factors into account.

While Dennis knew that he could place all of these rules into a newspaper article, he understood that only a small number of traders would actually adhere to them. His many years of experience in the industry had shown him that the majority of traders only use trading rules to provide some basic structure, before “improvising” whenever they considered it necessary.

 following these rules in a rigid manner would produce poor trading performance. The experiment was set to last for a period of two weeks. Dennis named his students "turtles" because of an experience he’d had visiting turtle farms when in Singapore. He believed that, just like turtles, traders could be grown quickly and efficiently.

Formal results from this experiment — which continued for five years — weren't published. However, a former "turtle" named Russell Sands, who died in 2019, had stated that the two separate classes of turtles whom Dennis trained earned over $175 million in a period of five years. The takeaway is that even first-time traders who had no previous experience with the market could learn how to trade effectively and ultimately become successful traders.

Some of the “turtles” were asked to leave the experiment, but of those who were able to rigorously follow the prescribed strategies, there were notable successes. Jerry Parker, a “turtle” who even now practices the system’s precepts, 

 Chesapeake Capital after founding it over 30 years ago.

Even though modern investors can't be given personal training by Dennis (who, incidentally, is still politically active and president of Dennis Trading Group Inc.), the rules he established can be applied when making trades. The main goal again is to purchase breakouts and eventually close on trades whenever prices begin to drop or rise.

Although turtle trading resulted in some success for traders who were part of the experiment, there are some issues to be aware of before you begin to use it for crypto trades. The primary one is that sizable 

 are common when using this trading technique.

The majority of breakouts that investors place their money into are false movements, which can lead to investors losing on a high number of trades. The potential for high returns is still possible for investors who understand that drawdowns will happen.

There are a large number of rules that must be followed when using the turtle trading technique. However, the original turtle trading rules have been modified over the years. Even though the initial strategy of identifying possible breakouts is still somewhat effective, modern traders have modified these rules in order to more effectively identify trends.

For instance, the previous rules stated that an investor should only enter the market when the price goes above the 20-day high. The modified rules prescribe buying whenever the price goes higher than the 200-day high. Turtle trading doesn't work much differently when used to make crypto trades and investments versus stocks, bonds and futures.

Turtles only trade in highly liquid markets, which yields more market depth to mitigate risks and reduce potential losses. When employing the turtle trading strategy, make sure that you focus your attention on the most popular crypto assets. 

The following section explains the rules behind turtle trading in detail.

During the experiment, the turtles traded various futures contracts with the goal of making trades in highly liquid markets. This approach was meant to provide traders with the ability to move the market without necessarily making a sizable order. Along with commodities, turtles traded metals, bonds, the S&P 500, FX and energy.

Position-sizing is an algorithm that effectively normalizes the volatility of the set position by altering how sizable the trade is based on the current market volatility. The purpose of this system is to enhance diversification by making sure that every position in each market is the exact same size.

Highly liquid markets will have fewer contracts traded. At the same time, markets that are less liquid will trade many more contracts. The position-sizing system assesses the 20-day moving average for the true range to determine how volatile the market currently is.

Turtles ended up using two completely different entry systems when making trades. As mentioned previously, these systems have been modified over the years. The first of the two entry systems involved using a basic 20-day breakout. The second system used a 55-day breakout.

Winning positions were added with a maximum of four entries. Turtles were told directly by Dennis to take all signals that were offered, because of the knowledge that missing just one signal could result in a large winner being overlooked. Missing a big winner could substantially reduce total returns.

Turtles were told to take advantage of stop-losses whenever necessary to make sure that losses never went too high. An important aspect of the stop-loss strategy was that the turtles needed to determine what their exact stop-loss was before entering a position. The intention here was for risk to be defined before even making a trade, allowing the turtles to mitigate losses. (Investments in more volatile markets, such as crypto, involve wider stops.)

As for exits, turtle trading rules state that leaving a position earlier than normal could limit the potential returns from the trade, which is a mistake that regularly occurs with other trend-following systems. Turtles used two separate trading systems, which resulted in two exit rules.

The first exit rule involved a 10-day low when taking long positions into account, as well as a 20-day high for any shorts. In comparison, the second system used a standard 20-day low or high. The price was watched in real time, as opposed to using stop-exit orders.

Turtles were also taught by Dennis how to use 

 while dealing with any quick-moving markets. Another tactic involved waiting for relative calm before placing a new order — as opposed to trying to quickly obtain the best price, which is a mistake that many new traders make. Turtles were told to purchase in the strongest markets, while also selling in the weakest ones, in order to benefit from momentum.

Over the years, traders of all experience levels have learned the ins and outs of turtle trading, which has allowed investors to take away some key lessons. While the initial turtle trading rules have been modified to account for current trading standards, traders still use the principles behind turtle trading when making trading decisions.

Understand the Concept Behind Your Trading Strategy

Whether you use the turtle trading method in the crypto market or decide to use a completely different strategy, it's essential that you comprehend every facet of the concept behind the strategy, as well as the logic of the rules it’s based on.

Once you truly understand the concept, you should be able to implement more than one trading strategy around it, which helps to diversify risk. Without knowing what the trading strategy actually means, you'll likely stop using it after the first drawdown occurs since you won't know how to correct this issue.

Even if the turtle trading strategy works for you when conducting crypto trades, you may still incur high losses if you don't develop a risk management strategy as well. Let's say that you're using the modified turtle strategy that produces a return of more than 32% and a drawdown of more than 41.50%. If the risk per trade is just 1%, you're in a relatively manageable position.

Investors who don't use a risk management strategy could decide to increase risk to around 4%. In this scenario, the annual returns would be just under 76%. However, the max drawdown would be around 97%. If this drawdown ever occurs, it would be practically impossible for you to recover from it. The takeaway here is that any trading strategy should be paired with risk management techniques.

Market conditions invariably change on a regular basis within the crypto industry, which means you may not be successful using the same trading strategy at all times. Eventually, this strategy will likely result in an extended period of drawdown. It's also possible that a trading strategy will no longer work at all, which can put you in a difficult situation.

If you find that your trading strategy no longer works, there are several steps you can take. First, determine whether the concept behind your strategy has failed — or the actual strategy no longer works. In the event that the strategy is all that’s failed, you can retool it around that concept for an improved approach to trading.

If you find that the concept behind your strategy no longer produces results, you’ll want to change to a completely new trading concept, instead of attempting to salvage the one you currently use. Once you've moved to another concept, start creating new strategies around it.

Plan your exit, just as you plan your initial entry. Know exactly when you’ll either exit with your profits or cut your losses.

Does Turtle Trading Work for Crypto Markets?

Over the years, many traders have used the turtle trading strategy on crypto markets. The results haven't been great. When following the initial turtle trading system from the early 1980s, it's difficult to obtain high profits. However, the modified rules mentioned previously have resulted in more profits, since trades are made less frequently.

 isn't a great option in cryptocurrency markets. When taking the turtle trading rules into account, shorting doesn't provide many benefits and can lead to capital loss when making numerous stop-losses throughout a bull run.

One reason why the initial turtle trading system isn't perfect for crypto is because it was meant to be used with loosely correlated markets. Cryptocurrency assets have relatively high correlation in regard to price. If you want to use the turtle trading strategy when making crypto trades, the modifications you should implement include the following:

Every crypto trader wants to find the perfect strategy that will net them high returns when trading crypto. While you might make the right trades at the right times, the turtle trading rules mentioned earlier aren't necessarily perfect for everyone. Beginners and experts alike should be able to use the turtle trading strategy without much issue.

However, the results can vary depending on your approach and the level of risk you take on, which means that it will take time for you to identify if turtle trading is right for you. It's true that many of the "turtles" who first took part in the turtle trading experiment garnered an ample amount of success.

On the other hand, Dennis himself incurred exceedingly high losses in the stock market crash of 1987, which means that this isn't an infallible strategy. Regardless of the trading system you decide to use, it's highly recommended that you have a strong basis for each trading decision you end up making.

Turtle trading is a unique strategy that gives traders the opportunity to explore making investment decisions without putting any emotion into their decisions, which may result in a successful approach to trading. Since the turtle trading experiment took place in the early 1980s, the rules behind this strategy have been modified. Take this reality into account before you decide to implement this strategy with your trades.

What Is Turtle Trading & Does It Work for the Crypto Market?

Compete for 2,500 USDT Every Week

Earn Points by Completing Tasks

Event Rules

Register now and get 10 points

Write/Reply Comments (0/5)

Publish an Article (0/5)

Share an Article on Social Media (0/5)

Like an Article (0/5)

Read an Article (0/5)

Weekly Leaderboard