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

Web3 Experts

Inscriptions consist of arbitrary content that’s stored on individual satoshis, the smallest unit of the Bitcoin currency, using the Bitcoin network.

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 first emerged, it introduced a revolutionary and trustless system for transferring value. Being able to send financial transactions securely and peer-to-peer was innovative and exciting, although the prospect of also supporting other activities had always been discussed.

Ordinals and inscriptions now offer a method to store information other than financial transactions. Additional information stored on the 

 can now become a one-of-a-kind digital artifact, otherwise known as a Bitcoin non-fungible token (

This article explores the history, principles and potential of Bitcoin NFTs. Could it be the next big thing — or is it just another fleeting trend in the fast-paced world of blockchain innovations? 

 on Bybit Learn, we aim to demystify these complex topics and provide insightful perspectives from industry leaders. Join us in this third installment as we invite Relationship Manager Daniel Basharimov from the Bybit VIP Team to join us for a dive into the world of Ordinals and inscriptions.

Ordinals are a unique system of ordering satoshis, the smallest units of Bitcoin, that allows the creation of 

. Users can inscribe data like text or images as digital artifacts onto individual satoshis.

 upgrade enabled more efficient and flexible data storage on the Bitcoin blockchain. 

 were officially launched onto the Bitcoin mainnet on Jan 20, 2023. They can be used for creating digital art, verifying identity, proving ownership and more. Unlike traditional NFTs on separate layers or platforms, Ordinals are directly embedded into the base of Bitcoin’s network, which makes them decentralized, rare and more secure.

Ordinals have different levels of rarity: Common, Uncommon, Rare, Epic, Legendary and Mythic. The rarity signals the uniqueness and scarcity of inscribed satoshis, and can be determined based on factors such as block height, inscription time and overall demand. 

Ordinals serve as unique identifiers for 

, the smallest units of Bitcoin, and are assigned based on the chronological order in which individual satoshis are 

 on Bitcoin’s blockchain. Essentially, the first satoshi ever mined is labeled as Ordinal 1, the second one as Ordinal 2 and so forth.

However, Ordinals go beyond mere numerical identification: they can incorporate additional information through a process called inscribing, which means that users can attach various data types, such as images or text, to specific satoshis. This functionality enables the creation of diverse digital assets, ranging from NFTs to 

The creation of Ordinals involves special Bitcoin transactions following the Ordinals protocol. These transactions include the Ordinal number, inscribing data and the Taproot address of the owner. Taproot facilitates more complex and flexible transactions. Miners validate these Ordinal transactions, ensuring their inclusion in Bitcoin blocks, similar to regular transactions.

Ordinals, along with their associated data, are stored on the Bitcoin blockchain as part of their transaction history. They’re accessible and verifiable by anyone using a Bitcoin 

 or an Ordinal explorer. Transferring an Ordinal from one owner to another involves an additional transaction to update the Taproot address. Ordinals therefore are imbued with the security, immutability and decentralization inherent in Bitcoin itself.

Inscriptions consist of arbitrary content that’s stored on individual satoshis, the smallest unit of the Bitcoin currency, using the Bitcoin network. 

This process creates Bitcoin-native digital artifacts (also known as NFTs) that can be stored, transferred and traded on the Bitcoin blockchain. Inscriptions use Ordinal theory, which assigns a unique Ordinal number to each satoshi based on its position in the transaction history, making it possible to identify and track each one.

 was created on Dec 14, 2022 by Casey Rodarmor. Named Inscription #0, this inscription is a pixel art representation of a black-and-white skull and is permanently recorded on the Bitcoin blockchain.

 on the Bitcoin blockchain refers to a method of storing data by interlinking existing inscriptions with new ones, thus establishing networks of interconnected data sources. This approach offers several advantages for developers: It enables the execution of software entirely on-chain, facilitates the storage of extensive files and allows the implementation of advanced contracts without the need for new cryptographic techniques.

Two other notable benefits are lower transaction costs, and the reduction of storage duplication. These are achieved by minimizing the amount of data inscribed on each satoshi and contributing to the overall efficiency of the blockchain. Recursive inscriptions have been employed by projects such as 

, known for creating impressive 3D art under 1 KB in size. Another prominent example is 

’s use of recursive inscriptions to immortalize his single-page HTML website on the Bitcoin blockchain.

While recursive inscriptions offer exciting possibilities for on-chain data storage and efficient transaction processing, their implementation comes with complexities and challenges that need to be managed carefully, especially regarding the balance between centralization and decentralization within Bitcoin’s ecosystem.

Inscriptions create digital artifacts such as images, text, audio and applications that can be stored and transferred. They become a way of imprinting information onto the Bitcoin blockchain, adding a layer of data to specific units of Bitcoin. Unlike with other blockchain platforms, Bitcoin inscriptions don't rely on sidechains or separate tokens, instead using the witness of Bitcoin transactions to embed arbitrary data. 

Inscribing can be a technical process that starts with installing 

, installing the “ord” client, and then committing and revealing a transaction. Thankfully, the development of inscription tools has made the process more accessible to users. These user-friendly applications simplify the creation and exchange of inscriptions on the Bitcoin network and empower users to generate and inscribe digital artifacts with ease, using low-code or no-code interfaces to support a more inclusive, user-friendly environment within the Bitcoin ecosystem.

Inscriptions have sparked a dialogue as to whether they could serve as a platform for expressing creativity, establishing identity and asserting ownership on the Bitcoin network.

However, opinions within the community are divided. Some enthusiasts view inscriptions as a promising avenue for expanding the functionality and cultural impact of Bitcoin. On the other hand, skeptics express concerns about the potential drawbacks, questioning the value and utility of inscriptions. The debate centers on issues such as block space efficiency and the potential impact on Bitcoin's fungibility.

Looking forward, the future of Bitcoin inscriptions remains uncertain. Nevertheless, they could open up possibilities for innovation and experimentation within the Bitcoin protocol. According to a report published Mar 3, 2023 by Galaxy Digital’s research unit, the market for Bitcoin NFTs built on inscriptions 

 by 2025, signaling a significant economic aspect to this emerging phenomenon. Despite its potential, however, this market's growth may face challenges that include technical and regulatory hurdles. 

When asked to share his perspective on Galaxy Digital's analysis, Bybit’s Daniel Basharimov notes that the report presents a range of projections for the Bitcoin NFT market, with a conservative estimate at $1.5 billion in a down market and an optimistic $10 billion, should Bitcoin NFTs rival those of Ethereum and other blockchains and introduce novel use cases. The report underscores the influence of major NFT players and evolving infrastructure on these forecasts. Notably, the NFT market has seen fluctuations in trading volumes and activity, with a peak in early 2023 followed by a downward trend. 

Despite these changes, interest in NFTs, especially premium ones, remains robust. Future market performance will hinge upon factors such as market trends, technological development and user engagement, with the interplay of Ethereum and Bitcoin NFTs being particularly crucial.

In the following section, we delve deeper into the complexities and potential of Bitcoin inscriptions, guided by insights from Basharimov as he sheds light on both the challenges and the promising future of this technology.

Looking to the future, the landscape will be shaped by technological advancements, market dynamics and upcoming challenges.

. This marketplace will incorporate a variety of 

, enhancing user interaction. Additionally, Bybit plans to expand its offerings by gradually integrating marketplaces from various protocols, providing users with a broader range of trading options within the Bybit Wallet ecosystem. Stay tuned for this exciting development by following our official 

 and tune in to our AMA with Lorenzo from UniSat and Dirk from Bybit Web3 on Jan 29, 2024, 1PM UTC.

Inscriptions using Bitcoin's Ordinal system are seen by sources such as Bybit’s Daniel Basharimov as a potential catalyst for a new era of digital creativity and ownership. This integration of non-fungible tokens into Bitcoin's core could provide a unique combination of security, decentralization and boundless possibilities. Experts suggest that, whether inscriptions become a lasting trend or a brief innovation, they represent an opportunity to delve into new creative territory within Bitcoin's robust structure.

Inscriptions: A Gateway to Understanding Ordinals

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