Ethereum R1 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum

The S&P 500 rose 0.63% Thursday, boosted by strong Meta and Microsoft earnings, but futures slipped Friday as investors awaited the April jobs report and weighed Apple and Amazon tariff concerns. Gold fell to $3,235 as easing trade tensions cut safe-haven demand; markets await US jobs data for rate cut signals. The Coindesk Indices, which tracks the broader crypto market, rose 2.19%, with Bitcoin and Ether up 2.57% and 2.60%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today's top performer is AR, which gained 16.8% following CloneX's successful migration to Arweave, sponsored by ArDrive.

Arweave (AR), founded in 2017, is a decentralized network for permanent data storage, using blockweave and Proof of Access to ensure long-term accessibility. It offers 200-year storage for a one-time fee, incentivized by AR tokens for miners. The system connects blocks efficiently to preserve and retrieve data, aiming to create a lasting digital knowledge repository. CloneX has successfully 

 to Arweave for permanent storage, with the support of ArDrive, which sponsored the migration of 100 GB of data. The process is nearly complete, with only Animus remaining to undergo decentralization.

Check out the latest prices, charts, and data of 

 is a new donation-funded, tokenless Layer 2 rollup designed to offer a decentralized, censorship-resistant, and governance-minimized scaling solution for Ethereum. Built on open-source code and the Nethermind Surge stack, it emphasizes credible neutrality, public good funding (with all fees burned after 2030), and infrastructure that remains free from VC control or centralized dependencies.

Yesterday, BTC spot ETFs saw $71.1M in total inflows, with $16M from GBTC and $55.1M from other ETFs.

 $BOOP tokens to active Solana memecoin traders and creators who promote memecoins or Solana dapps on X. To claim, users must connect their Solana wallet or X account and launch a free token. The airdrop arrives in 30 days, but growing the token’s market cap can accelerate the reward.

Beginner

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Ethereum R1 offers a decentralized rollup solution for Ethereum

This article dives into Bitcoin liquid staking protocol Lombard Finance, how LBTC works and how you can stake LBTC through Bybit Web3.

Bitcoin stands as the undisputed giant of the cryptocurrency space, commanding the largest market capitalization. Yet, much of its potential remains untapped, often sitting idle as a store of value rather than actively participating in the thriving 

 ecosystem. Lombard Finance aims to change this narrative by unlocking Bitcoin's utility and integrating it seamlessly into DeFi.

Lombard is built upon Babylon, the innovative Bitcoin staking protocol, and is incubated by Polychain Capital. Lombard’s flagship product, 

 (LST) for BTC. This article explores what Lombard Finance is and how LBTC works, and describes the Lombard ecosystem and how you can stake LBTC through Bybit Web3.

 is a liquid staking protocol that focuses on transforming 

's role in the digital economy. Its core mission is to evolve BTC from simply being a store of value — also viewed as 

 — into a productive asset that actively generates yield and participates within DeFi. Currently, a significant portion of Bitcoin's

 sits idle, lacking the native staking capabilities or cross-chain composability seen with assets such as 

Lombard Finance addresses this shortcoming by building on top of 

, a protocol that supports BTC staking without needing 

 or custodians. Babylon allows Bitcoin's economic weight to secure other 

 (PoS) chains and applications, creating a new yield source for holders. Lombard leverages this foundation to offer LBTC, making staked BTC liquid and usable across the DeFi market.

Lombard’s goal is ambitious: to channel Bitcoin's vast liquidity into DeFi. This could potentially double the ecosystem's 

 (TVL) if even a fraction of available BTC is introduced. Lombard believes this integration will catalyze significant growth and create more sustainable market dynamics by making BTC a core, yield-bearing primitive within DeFi.

Founders and investors of Lombard Finance

Lombard Finance was founded in April 2024 by a team with deep expertise within DeFi, drawing talent from established crypto projects like Polychain, Babylon, Argent, Coinbase and Maple. This collective experience underpins the protocol's design and strategic direction.

The project was notably incubated by Polychain Capital, a prominent crypto investment firm that also led Lombard's $16 million seed funding round (which was 

 in July 2024). This round saw participation from a wide array of significant players in the crypto space — including Babylon, dao5, Franklin Templeton, Foresight Ventures, HTX Ventures, Mirana Ventures, Mantle EcoFund, Nomad Capital, OKX Ventures and Robot Ventures — thus highlighting broad industry confidence in Lombard's vision. Strategic partnerships and contributions from exchanges like

 and Bitget are further bolstering its distribution and liquidity aggregation efforts.

LBTC is Lombard Finance's flagship product — a liquid staking token (LST) that represents Bitcoin staked through the Babylon protocol. Designed as a universal liquid BTC standard, LBTC is fully backed 1:1 by native Bitcoin, ensuring its value is directly tied to the underlying asset.

The token is yield-bearing, capturing rewards generated from securing PoS networks via Babylon staking. Crucially, LBTC remains liquid, meaning holders can freely use it across various DeFi applications — such as 

 and automated vaults — without sacrificing their underlying staked positions or associated yield.

LBTC is also designed for cross-chain compatibility, natively minted on supported blockchains like Ethereum, Base and Sui and using secure infrastructure [such as 

]. This avoids the risks associated with traditional bridging or wrapping methods, thus aiming to provide a more secure and seamless way to utilize Bitcoin across the multichain DeFi ecosystem.

Lombard Finance simplifies the process of putting Bitcoin to work within DeFi through its LBTC token. The mechanism is designed with security and user experience in mind, leveraging the Babylon protocol and a robust Security Consortium.

The core benefit of LBTC lies in its ability to unlock multiple layers of value simultaneously. Holders earn native yield from Babylon staking, potentially accrue additional rewards (such as Lombard Lux points) and gain access to diverse DeFi yield opportunities, all while maintaining the liquidity of their Bitcoin position. This transforms BTC from a static asset into a dynamic, yield-generating component of the DeFi ecosystem.

Lombard Finance is actively building a wide LBTC ecosystem that already boasts over 75 DeFi integrations. Security is foundational, anchored by the 14-member Security Consortium (including prominent names like Galaxy and OKX Ventures) and validating all critical operations alongside audits and bug bounties.

Core infrastructure relies both on Babylon for staking, and on the Chainlink CCIP for secure cross-chain movement, with EigenLayer integration 

. LBTC integrates with leading DeFi applications across lending platforms (e.g., 

) and automated vaults. The platform supports multiple blockchains (including Ethereum, Base, Sui, BNB Chain) and 

 (L2s), positioning LBTC as a versatile cross-chain asset.

Here's how you can stake BTC on Lombard and use LBTC in DeFi and automated vaults.

Lombard Finance (via its LBTC token) offers a compelling way for Bitcoin holders to put their assets into use, earn yield via Babylon staking and gain exposure to the expansive DeFi ecosystem — all while maintaining liquidity. Incubated by Polychain Capital and supported by a robust consortium and growing partner network, Lombard is positioning LBTC as a secure and versatile liquid Bitcoin standard.

It’s easy to participate in the Lombard ecosystem through 

, you can utilize your Bybit Web3 Seed Phrase Wallet to stake BTC and mint 

, Lombard's vault token that represents deposits in automated yield strategies. This provides you with a seamless gateway to access Bitcoin liquid staking and DeFi yields.

Ready to unlock your Bitcoin's potential? 

Intermediate

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Lombard Finance: Polychain-backed Bitcoin liquid staking protocol

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. 

Altcoin season might have come with reviveding speculation 

The cryptocurrency market has entered a phase reminiscent of past altcoin seasons, primarily driven by Bitcoin's recent rebound to the $94K–$96K range. This resurgence has sparked renewed interest among retail traders, shifting focus from Bitcoin to smaller, more speculative altcoins. The overall market saw a 10% increase in value during the final eight days of April, contrasting with Bitcoin's 7% gain. This trend indicates a growing appetite for risk among investors, particularly in meme coins, which have seen a surge in social media discussions.

However, caution is warranted as elevated crowd enthusiasm often precedes market corrections. Historical patterns suggest that when buzzwords like "altseason" are dominating discussions, it may signal an impending price exhaustion. The current market dynamics reflect a shift toward speculative investments, raising concerns about the sustainability of this enthusiasm.

Bitcoin's bullish sentiment substantially improves

Bitcoin's position as the leading cryptocurrency has remained steady, with discussions around its price fluctuating significantly. Following a period of pessimism, when predictions dipped as low as $10K–$69K, sentiment shifted dramatically with the price recovery. Now, optimistic projections of $100K–$159K are dominating conversations, indicating a reversal in trader sentiment.

Despite Bitcoin's consistent presence in market discussions (approximately 25% of asset topics), the ratio of bullish-to-bearish commentary has grown increasingly favorable. This suggests a growing confidence among traders bolstered by Bitcoin's recent performance. However, it’s essential to monitor whether this bullish sentiment translates into sustained investment, or if it leads to overconfidence that may trigger a market pullback.

Ethere, once a robust contender in the altcoin arena, has struggled to regain retail investor confidence despite recent bullish commentary and promises of innovation from co-founder Vitalik Buterin. Its social media presence has dwindled to about 6–7% of discussions, a significant drop from previous years. This decline highlights the challenges Ethereum faces in re-establishing itself as a go-to investment in a market increasingly dominated by speculative assets.

Conversely, XRP has seen a notable increase in optimism surrounding ETF approvals, with expectations rising to 85%. This shift reflects a broader trend of institutional interest in cryptocurrencies, potentially paving the way for significant capital inflows. Meanwhile, Dogecoin's potential ETF listings have sparked renewed interest, transforming its image from that of a meme coin to a legitimate investment option. The growing dialogue surrounding institutional adoption of Dogecoin and XRP indicates a pivotal moment for these assets, suggesting they may play critical roles in the evolving cryptocurrency landscape.

Advanced

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Bybit x Santiment social sentiment report: Altcoin sentiment recovers despite Bitcoin’s resilience

Bybit Spread Trading allows traders to simultaneously buy and sell two related instruments in order to hedge risk or profit from price discrepancies. Read more.

Whether markets are flying high or wobbling unpredictably, one thing remains true: traders are always looking for smarter ways to 

 and find profit opportunities. That’s where Bybit Spread Trading comes in. This feature is tailor-made for those who want to go beyond basic buy/sell plays and start taking advantage of price discrepancies between related instruments. In this guide, we’ll walk through exactly how Bybit Spread Trading works, why it matters and how you can start using it today, whether you’re 

is a newly launched Bybit feature that allows users to simultaneously buy and sell two related instruments — such as Spot, Perpetual or Expiry contracts with different settlement dates — in order to hedge risk or profit from price discrepancies.

This type of trading strategy is popular among institutional and professional traders because it enables more precise, controlled market exposure. However, with Bybit’s interface, the barrier to entry is significantly lowered, opening the door for individual traders to tap with just a few clicks into a powerful set of tools.

At its core, Spread Trading on Bybit is about executing what’s called a combo trade. This means entering two positions at once: one long, one short. These positions are taken on related instruments, such as a BTC Spot trade and a BTC Perpetual contract, with the idea that their prices will either converge or diverge in a way that benefits your position.

When you place a buy combo, you’re buying the instrument with the longer expiration (the “far leg”) and selling the one that expires sooner (the “near leg”). 

A sell combo is the reverse: selling the far leg and buying the near leg. The profit (or loss) comes from how the spread between these two instruments shifts over time.

For example, if you believe the spread between a Perpetual and a Quarterly Futures contract will widen, you can buy the combo. If the spread increases after your entry, that movement becomes your profit. Bybit calculates your 

 prices automatically, based on the mark prices and your defined “order price,” so there’s no need to manually crunch the numbers.

Perhaps the most important feature here is atomic execution. This ensures both sides of your combo trade are filled together, in equal quantities, or the trade doesn’t go through at all. It removes “leg risk,” which is the danger of getting filled on one side of the trade, but not the other. In volatile markets, that alone can save you from an unwanted mess.

Spread Trading on Bybit currently supports combinations such as Spot and Perpetual, Spot and Expiry, Perpetual and Expiry, or even two Expiry contracts with different dates. This flexibility lets you build strategies that align with different market outlooks — bullish, bearish or neutral.

There’s a strong reason why Spread Trading is a go-to for many experienced traders: it allows for strategic plays that are more sophisticated than just guessing price direction. On Bybit, it’s not only powerful, but also convenient.

First, you get price certainty. Your spread is locked in at the price you specify. There’s no 

 between legs because the entry prices are automatically calculated and matched. You’re trading the spread, not the individual legs.

Secondly, the trading experience is smoother. Instead of placing two separate orders and manually trying to sync them, Bybit handles everything as a single transaction. You don’t have to worry about whether one leg gets filled and the other doesn’t — that risk is eliminated through atomic execution.

Third, this setup is a great hedge against volatility. By taking opposing positions on two related contracts, you reduce exposure to sharp price movements. Your P&L becomes more about the relative performance between contracts, rather than the market direction itself.

There’s also a strong cost advantage. Trading spreads on Bybit is significantly cheaper than doing it manually. You pay only half the trading fees you’d incur if you placed two individual trades on the order book. For high-volume or 

, that translates to meaningful savings over time.

Finally, it unlocks strategy flexibility. Whether you're 

 funding rates between Spot and Perpetual, doing 

 with different Futures contracts or taking advantage of price convergence before expiry, this platform gives you the tools to execute those ideas efficiently.

How to get started with Bybit Spread Trading 

Now that you have a better understanding of how Bybit Spread Trading works, let’s look into how to get started. Please note that you’ll need to have a Bybit account in order to proceed. If you don’t already have one, please check out our 

 for more information on how to create a Bybit account.

: Log in to your Bybit account and hover your cursor over the 

: The available spreads are organized in a grid, with each tile representing a unique combo. Choose your preferred combo to trade.

Tiles with a border around them signify that Spread Trading offers a better price. Hover over a tile for more details, or use the bar at the bottom of the grid to explore more options.

On the order placement page, set up your order with the following parameters:

to place your order. A pop-up window will appear for you to confirm your order details. Then, click on 

Congratulations — you’ve successfully placed an order!

You can view your Spread Trading orders from any trading page (Spread Trading, Spot and Futures), as they all share the same order data.

 to view your active orders. You’ll be able to view the combo, underlying asset, order price and more. 

If you would like to adjust your order parameters, you may click on the pencil icon under 

. To cancel your order, simply click on the order’s corresponding 

to view your completed orders. To view each order’s information on each leg, click on the order’s corresponding 

button. For additional insights, click on 

Spread trading isn’t for everyone — but if you’re someone who enjoys strategic trading, hedging or arbitrage, it’s a tool worth adding to your arsenal. It appeals to traders who are less interested in taking a directional bet, and more focused on capitalizing on inefficiencies in the market.

You don’t have to be a pro trader to benefit, either. The simplified execution and intuitive UI mean even intermediate users can explore advanced strategies without being overwhelmed. As long as you understand how spreads work, and how your P&L is affected by their movement, you’re already halfway there.

More importantly, in times of market uncertainty or low volatility — when price action feels sluggish — spread trading gives you an alternative way to profit. It keeps you in the game — even when momentum plays aren’t cutting it.

Bybit Spread Trading is a powerful tool that combines simplicity with sophistication. Whether you're looking to hedge, save on fees or experiment with 

 strategies, it offers a clean and user-friendly way to do so. With lower risk, lower costs and plenty of flexibility, Bybit Spread Trading is a smart move for any trader looking to level up their game — especially when markets get messy.

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Bybit Spread Trading: Smart strategies for market swings

Crypto

Altcoins

Polymath (POLY) is an Ethereum blockchain–based security token issuance platform that allows entities seeking to raise capital to issue standardized SEC-compliant security tokens.

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Capital markets are highly regulated environments with significant responsibilities and requirements placed upon the primary parties — businesses looking for investors to raise funds. Unfortunately, standard blockchain technology is not equipped to accomplish this strategy. Polymath is one of the leading projects designed to address these limitations and bring the benefits of raising capital to the blockchain world.

The Need for Regulatory-compliant Security Tokens 

The highly regulated nature of capital markets has long impeded large-scale fundraising on a blockchain. By default, blockchains are designed to have open access, and are subject to virtually no regulatory mechanism, while privacy and regulatory control are two pillars of 

 (ICOs), many projects tried to attract investors by issuing security tokens meant to provide some assurance of ownership. They 

 the utility tokens used by these crypto platforms. Unfortunately, many of the tokens were “security” in name only, without any tangible standards or regulations. The Securities and Exchange Commission (SEC) was rightly unimpressed with the offers, and didn’t consider these tokens proper securities.

Polymath was then launched in 2018 and registered with the SEC to bring standardization and regulatory compliance into the process of tokenized capital raising. 

blockchain–based security token issuance platform. It allows entities seeking to raise capital to issue standardized, Ethereum-based security tokens that are compliant with SEC regulations.

, a compliant standard for security tokens.The platform uses a related security standard, 

, to issue its own security tokens. The tokens specify a set of rules and requirements that issuers and investors must satisfy for a capital-raising transaction to occur.

Polymath's technology brings efficiency to the process of tokenizing securities on Ethereum. However, the team behind the project didn’t stop there. They’ve also developed a native blockchain, 

 (POLYX), which is specifically designed for tokenized securities and capital-raising on the blockchain. Unlike Ethereum, Polymesh has been created with capital markets in mind. As of now, the Ethereum-based Polymath and Polymesh operate in parallel. Eventually, Polymath’s activities will likely shift toward Polymesh.

 is the company’s comprehensive solution for end-to-end tokenized capital-raising. It helps companies establish and manage the life cycle of their capital-raising activities — creating offers, tokenizing the offers, attracting investors and more.

 platform to browse through offers and narrow down their selections using a variety of filters — e.g., by country, capital requirements, identification requirements and so on.

 is a utility for managing security tokens. You can use it to handle all the token’s operations, such as reserving ticker symbols, configuring token rules and distributing the token.

While the new Polymath Capital Platform is a one-stop solution for the overall tokenized capital-raising process, Polymath Token Studio manages all the details and specifications of the actual security token.

Polymath requires issuers to specify all the parties involved in their projects. These include brokers, legal representatives, custody agents and more. Upon satisfying these requirements, a company seeking capital can mint and promote its security token with the ST-20 standard.

At the moment, Polymath has six security tokens listed on its Ethereum platform.

The security tokens listed on Polymath’s Ethereum account

To choose a suitable project, potential investors browse through offers on Polymath, just as traditional market investors evaluate stocks, bonds or commodities to invest in. Polymath offers a good deal of information about each one of its projects, thanks to the platform’s standards.

This is in stark contrast to many other crypto projects, even those with “security” tokens based on the conventional ERC-20 standard. Many such projects, now and in the past, have lacked the critical information required to evaluate their attractiveness and safety from an investment perspective. Projects with obscure two-page white papers and anonymous founders using online forum handles have sought significant capital by issuing these tokens.

With Polymath, significant project-related details are rigorously collated to help ensure the safety of investors’ funds. For example, Polymath uses a procedure that 

 token issuers. Thus, a Reddit username, no matter how inventive or funny, will not work for a project founder’s registration.

Similar rigorous identification and information standards apply to investors. You have to prove your identity and supply key facts demonstrating your investor status.

When an investor selects a project, Polymath uses an escrow system based on smart contracts to hold the deposited funds, which are then released when all the requirements are met by both parties — the issuer and the investor.

To be fully compliant with SEC regulations, Polymath applies waiting periods on the release of security tokens to investors. For those with accredited investor status, the waiting period is 90 days. The SEC 

 as individuals meeting one of the following criteria:

If you don’t meet the accredited investor criteria, the waiting period to access your security tokens will be one year.

POLY is Polymath’s utility cryptocurrency. It’s an 

 token on Ethereum, and it powers the platform’s Ethereum-based operations. The new Polymesh blockchain has its own native crypto called POLYX. Polymath has announced that POLY tokens may be converted to POLYX at a 1:1 rate and transferred to Polymesh using the POLY to POLYX Bridge utility.

POLY is used on Polymath to pay fees for all on-platform transactions — e.g., minting of security tokens, or using services such as identity verification. The token is involved in transaction payments on Polymath, just as Ether coin is used on Ethereum to pay for all blockchain-wide transactions.

While the Polymesh blockchain’s new POLYX coin has governance and staking functionalities, the POLY token doesn’t have either of these. Thus, POLY is a classic utility token employed largely to facilitate on-platform transactions.

POLY has a total supply of 1 billion tokens and a circulating supply of 898.5 million. There’s no supply cap specified for the token. Its current price (as of Oct. 19, 2022) is around $0.26, giving it a market cap of around $220 million.

The trading of POLY began in early 2018 when the platform deployed its first smart contracts on Ethereum. Despite quickly reaching a high of $1.59 on February 20, 2018, it eventually declined to about $0.15 by the end of the year, as its launch coincided with the 2018 

In 2019, POLY dipped below the $0.10 mark and stayed at sub-10-cent levels throughout the rest of the year and 2020. Beginning in February 2021, the token’s fortunes changed dramatically, with wild ups and downs throughout the year. POLY’s volatility was nothing unusual, given the overall crypto market’s spectacular 

As the market experienced its final major crash of 2021 in November, POLY’s price entered a multi-month downtrend, bottoming out in June 2022 at $0.17. Since then, POLY has had a mild recovery.

In general, POLY’s performance since early 2021 has been nothing out of the ordinary, given the overall market conditions. Many price prediction experts anticipate POLY to grow in value due to its potential contribution to the blockchain industry. 

 to hit a maximum of $1 by 2025 and cross the $6 mark by 2030. 

 toward the token, though more conservative, predicting POLY’s price at around $0.65 in 2025 and only exceeding $1 by 2030.

We expect POLY to perform moderately well, perhaps at the level of the overall market. The project has moderate potential for these reasons:

Polymath is a major project designed to bring venture capital to blockchains. It may prove to be instrumental in getting investors to view crypto security tokens as a legitimate form of securities. For now, Polymath may provide companies and investors with a capital market platform that’s complementary to traditional financial market platforms. In the future, however, companies and investors might come to view blockchain and security tokens as the preferred platform to raise capital and invest.

Polymath Crypto: Tokenizing Securities With Blockchain

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