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

Bybit Learn

Trading

Position sizing is the process by which a trader defines contract size, trade size and other risk criteria prior to getting into the market. Learn more here.

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No matter what kind of trading you may dabble in, there will always be some sort of risk to it. This risk increases when you’re trading highly volatile assets such as crypto. As such, many traders tend to employ 

 to ensure that any losses remain low. One of the most common crypto risk management strategies is position sizing. Read on to find out more about what position sizing entails, and how you can use it to manage risk.

Position sizing is the process by which a trader defines contract size, trade size and other risk criteria prior to getting into the market.

Position sizing is essentially a trading strategy by which you define your entry price, exit price and overall risk prior to making a trade. For instance, you may decide that you’re only going to enter the market after it breaches the day’s high, the week’s low or some other objective level.

The next step in the position sizing process is to determine what size you want to put on a trade. If you have a smaller account, you'll likely want to trade a mini or micro lot as opposed to a standard lot. Furthermore, you'll likely want to trade a single lot at a time or use a tight 

 to better preserve your trading capital.

When done properly, position sizing can help to preserve your trading capital and ensure that you don't blow out your account after a single trade. There are many different types of position sizing strategies, such as fixed-dollar amount, percentage dollar amount and contract size value. You may also use mathematical formulas, such as the Kelly Criterion, to calculate position size or otherwise help you determine your optimal position.

Why Is Position Sizing Important for Crypto Traders?

Proper position sizing is important for crypto traders because crypto markets are some of the most volatile you'll encounter. It isn't uncommon for the price of Bitcoin to change by thousands of dollars in a single day. Therefore, it's important to have rules in place to ensure that your position size is in line with your account size, risk tolerance and trading goals.

You have almost no control over when or how fast the markets will move. Of course, market makers know this, and will use it to their advantage. It's not uncommon to see markets held in a tight trading range for several hours or days before a parabolic move to a new high or low.

It's also not uncommon to see markets trend in one direction for hours or days in a row before suddenly reversing to where a breakout started. The use of proper position sizing strategies can help you avoid the temptation to chase moves. Instead, you only enter or exit the market when it makes sense for you to do so, which can help to keep your trading account at a healthy level.

Even if you stick to proper position sizing best practices, there’s no guarantee that any single trade is going to be profitable. However, if you have a clearly defined plan, you can review it to see why a trade wasn't successful. For example, maybe you weren't using the correct position size, or went over your account risk limit because you made an error when calculating your position size.

Of course, it's also possible that you got out of the market too early (or stayed in too long) because you let emotion take over. Regardless of why a trade didn't work, the fact that you have objective and defined rules means that you’ll likely be able to determine what went wrong, and what you need to avoid in the future.

In addition, you’ll want to review your winning trades to determine if there was anything that you did wrong in regard to position sizing, or other aspects of your trade that you could execute better next time. For example, maybe you stayed in the market even after hitting your profit target because you were feeling good, and wanted to squeeze more out of the market. Although you may have been successful today, it's more important to develop good habits that will allow you to preserve and grow your trading capital and account over the long term.

While position sizing can be an effective way to minimize risk, it is not foolproof. For example, if market makers decide to gap the market before or during a 

, your stop-loss may be exceeded, which means that you would exceed your maximum risk on a trade.

You may also be triggered into a trade if a market maker widens its spread. In such a scenario, a limit order to buy might be initiated even if the market doesn't hit your preferred entry price.

Alternatively, a limit sell order might be initiated even if the market doesn't fall to your defined entry price. [A 

, in which you determine where you want to enter the market, is generally good until you cancel it or until the end of a trading day.]

Even if you trade your plan properly, there’s no guarantee that your trading strategy will work. However, you’re almost guaranteed to fail if you don't follow your position sizing rules, or don't follow them consistently. It's not uncommon for new traders to get into trouble if they try to trade when they're tired, angry or experiencing other negative emotions. It may also be more challenging to trade properly when you're stressed or otherwise unable to focus.

Position sizing techniques can help to ensure that every trade you make is a meaningful one. Let's take a closer look at how you can use position sizing as it relates to the size of your account, as well as to that of any trade you want to make.

Most professional traders limit their risk to no more than 1% of their overall account balance per trade. Therefore, if you have $1,000 in your account, you wouldn't want to risk more than $10 at any given time. Although it may be frustrating to have such a low maximum risk when you start out, your goal as a beginner isn't necessarily to make money. Instead, your goal is to get better at managing your emotions, learning from your mistakes and developing good position sizing habits in a relatively stress-free way.

Let's say that your maximum risk for a single trade is $10, and that each price interest point (

) is worth $1. In this scenario, you’d want to put a stop-loss order no more than 10 pips below your entry price if you’re looking to buy, and no more than 10 pips above your entry price if you’re looking to sell.

This position sizing method helps you determine how many lots you want to control in any given trade. Generally speaking, the number of lots that you purchase depends on your confidence in your trade. It also depends on the size of the lot that you’re purchasing. Typically, a micro lot allows you to control $1,000 of an underlying asset and a mini lot allows you to control $10,000 of an underlying asset, while a standard lot is $100,000 of an underlying asset.

The fixed dollar amount method is one of the easier position sizing techniques for new traders to understand and master. This is because you simply choose a dollar amount that you’re content with risking (and potentially losing) in a given trade. The amount that you’re willing to risk then determines your position size, stop-loss, and other trade entry and exit criteria. For example, if you wanted to risk $100 on a trade where each pip is worth $5, your maximum stop-loss would be 20 pips from your entry.

Ideally, your account risk limit and risk per trade will be roughly the same. This can help to preserve trade capital and ensure that you're being consistent with each trade you make. In most cases, this means that you won't risk more than 1% of your capital on any given trade. However, you can adjust your position sizing per trade (up or down) as you see fit.

Contract size value position sizing allows you to control your risk because smaller contracts have smaller pip values. For example, a micro lot can have a pip value of as little as 10 cents. This means that for every pip the market moves, you'll only risk a dime. A mini lot typically costs $1 per pip, while a standard lot typically comes with a risk of $10 per pip. Of course, you'll want to check with your broker regarding pip values before using contract size as a position-sizing tool.

The Kelly Criterion is a mathematical formula that uses past results in an effort to calculate the correct position size for future trades. 

The formula is as follows: Kelly % = W − [(1 − W) / R], where W equals your winning probability and R indicates your profit/loss ratio. 

The result of this optimal position calculation will be somewhere between 0 and 1, where 0 represents an optimal position of 0% and 1 equals an optimal position of 100%.

For instance, if you get a result of 0.05, then you’ll want to allocate 5% of your account toward your cryptocurrency of choice. Of course, never breach your account risk, trade risk or other position sizing rules simply because a calculator told you to.

Is Position Sizing an Effective Crypto Risk Management Strategy?

Position sizing is generally an effective crypto risk management strategy. When used properly, position sizing can provide you with an objective method of determining your entry and exit criteria, helping you to filter out the noise and avoid being manipulated by market makers. Having an objective trade plan also means that you're rarely risking more than you can afford to lose, based on your account size.

Position sizing should be considered an integral part of your overall trading strategy. When used consistently, position sizing may help to prevent catastrophic losses that might exceed your initial investment. It can also help you manage your emotions, which can be especially difficult for new traders.

What Is Position Sizing & How Do You Use It to Manage Risk?

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