In this article, we break down what to expect from Liberation Day and how it could shape the outlook for equities, the US economy and crypto markets.

 April 2, 2025 as "Liberation Day" — a moment he claims will restore America's trade fairness through sweeping reciprocal tariffs. With few concrete details confirmed, global markets remain on edge. Investors are bracing for the economic fallout of a potential trade war, and crypto traders are watching closely to assess the impact on digital assets. In this article, we break down what to expect from “Liberation Day” and how it could shape the outlook for equities, the US economy and crypto markets.

Since returning to the White House in January 2025, President Trump has prioritized reshaping US trade policy with a renewed focus on tariffs. His administration has already announced 

 on all steel and aluminum imports. Many of these actions take effect this week, coinciding with his so-called Liberation Day.

Trump argues that tariffs are a necessary tool to reduce the US trade deficit and force foreign nations to stop what he calls "economic warfare" against the American worker. Treasury secretary Scott Bessent 

 countries with persistent trade surpluses — dubbed the 

 — as primary targets for reciprocal tariffs. These include China, the EU, Canada and Mexico.

However, critics point to the growing risk of a global trade war, with multiple partners already threatening or initiating retaliatory measures. Goldman Sachs recently 

, citing declining business confidence and mounting economic uncertainty. The tariffs, designed to protect US industries, could instead raise prices and weigh on consumer spending.

What to expect from Trump's ‘Liberation Day’ announcement

Trump is expected to reveal his tariff plans in a Rose Garden press conference on April 2. White House press secretary Karoline Leavitt 

 that the president would impose tariffs on "any country that has treated the American people unfairly" — though no nation-specific exemptions have been confirmed. Trump has promised these reciprocal tariffs will be 

While final details remain under wraps, proposals have included both country-wide and sector-specific tariffs. These could range from uniform, percentage-based levies to targeted charges on industries like pharmaceuticals, semiconductors and autos. Trump's advisers, including Trump trade adviser Peter Navarro and commerce secretary Howard Lutnick, claim the new tariffs could generate over $600 billion annually — though many economists dispute this figure.

Delayed tariffs on Canadian and Mexican imports, 

 in early March, are also set to take effect this week. These include taxes on agricultural products, energy goods and automotive components. Trump has also 

 a 25% tariff on imports from countries that purchase oil or gas from Venezuela.

Given the administration's conflicting signals in recent weeks, there's a wide range of potential outcomes. Whether “Liberation Day” ushers in immediate enforcement, additional delays or future negotiation rounds remains to be seen. For now, uncertainty reigns.

Potential impact on the US economy and global markets

Economists warn that broad-based tariffs could lead to slower US growth, higher consumer prices and widening inequality. Goldman Sachs now 

 Trump's trade policies to reduce annual GDP growth to 1.5% from 2%, while the odds of a recession are being raised from 20% to 35%.

Global equity markets have already shown signs of stress. European and Asian indices dipped ahead of “Liberation Day,” while the S&P 500 and Nasdaq-100 

 in March (respectively). Auto manufacturers, tech firms and retailers could be especially vulnerable if tariffs disrupt global supply chains.

There's also the question of the Federal Reserve's response. With inflation risks rising, policymakers may hold off on anticipated rate cuts, further complicating the economic outlook heading into Q2.

How will ‘Liberation Day’ affect the crypto industry?

Crypto markets have mirrored broader risk sentiment over the past quarter, with investors reducing exposure amid macroeconomic turbulence. As of April 1, the 

 is down 16.9% year-to-date. Bitcoin has fallen 10.48%, Ethereum 44.2% and Solana 33% — despite reaching new highs in January on hopes for pro-crypto policies from the Trump administration.

Investor optimism has since cooled as recession risks, inflation concerns and policy unpredictability drive a risk-off mood. Bitcoin dipped to $81,656 over the weekend, marking its weakest Q1 since 2018. Traders remain cautious ahead of “Liberation Day,” awaiting clarity before opening new positions.

“Liberation Day” could further weigh on crypto prices if market volatility increases and capital rotates out of risk assets. However, some analysts believe any resulting sell-off may offer an opportunity to 

 — especially if Trump follows through on crypto-friendly regulation later this year. For now, though, many eyes are on April 2.

With details still unknown, the crypto market remains in a "wait-and-see" phase. “Liberation Day” could mark a turning point — for better or worse — depending upon the scope and execution of Trump's tariff agenda.

Intermediate

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Trump's 'Liberation Day': What it means for crypto markets

Grayscale has filed to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). 

Daily top performer — Compound Finance (COMP)

The S&P 500 rose 0.38% as investors awaited new tariffs amid weak factory data and declining job openings. Gold eased to $3,113 after hitting a record high, driven by profit-taking ahead of Trump's tariff announcement, but remains strong due to safe-haven demand and economic uncertainties. The Coindesk Indices, which tracks the broader crypto market, are up by 1.30%, with Bitcoin and Ether are up 3.10% and 5.19%, 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 COMP, up 14.3%, following the proposal for the creation of a foundation to ensure consistent leadership and coordination by Compound.

Compound Finance (COMP), launched in September 2018, is a DeFi lending platform that allows users to earn interest on crypto assets. Built on smart contracts, it adjusts interest rates based on supply and demand, connecting lenders and borrowers without intermediaries. In June 2020, Compound decentralized with the launch of COMP and full governance transfer. However, it lacks a core operational pillar. With Compound v4 development and increased community engagement, the need for consistent leadership has grown. To address this, Compound Labs 

 creating a Compound Foundation for structure, clarity, and coordination, similar to other ecosystems like Uniswap.

Check out the latest prices, charts, and data of 

 to convert its private Digital Large Cap Fund, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, into a publicly available exchange-traded fund (ETF). The fund, which currently holds 79.4% Bitcoin and 10.69% Ethereum, has grown by 478.83% since its launch in 2018. The conversion would allow everyday investors to access the crypto market, covering about 75% of the digital asset market cap. If successful, it would eliminate the current barrier that restricts access to accredited investors. The filing is still in progress, with management fees and other details pending.

Yesterday, BTC spot ETF had a total outflow of $157.8 million, with GBTC seeing a loss of $10.1 million and non-GBTC products losing $147.7 million.

 that its airdrop might be approaching, with a claim page now live. Registration for the airdrop runs from April 2 to April 17, and claims are expected to open on April 22. However, nothing has been officially confirmed yet. Stay tuned for updates.

Beginner

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Grayscale files to convert digital large cap fund into publicly accessible crypto ETF

In this guide, we'll dive into how to trade crypto with the Bybit app, a convenient and feature-rich platform. Explore spot and derivatives trading for beginners on the Bybit app.

Welcome to our step-by-step guide on trading using the Bybit app. In this article, we’ll walk you through everything you need to know — from downloading the app and setting up your account to executing spot, margin and derivatives trades. Bybit is a leading cryptocurrency exchange that offers a fully localized and user-friendly mobile experience, making it easy for both beginning and seasoned traders to manage their investments seamlessly.

First, download the Bybit app from the App Store (iOS) or Google Play (Android). Once you’ve installed the app, open it and select your preferred language.

 and register using your email address or phone number. Complete the verification process by submitting your mainland Chinese ID or passport as required. This step is crucial to ensure your account is secure, and to unlock higher withdrawal limits.

After verifying your identity, head over to the 

 tab to fund your account. You can directly deposit cryptocurrencies like BTC or USDT. Our 

 (UTA) streamlines fund management, allowing you to trade seamlessly across different markets without the hassle of multiple wallets.

Spot trading with Bybit lets you buy or sell cryptocurrencies at current market prices with immediate settlement.

To begin, log in to the app and tap on the 

Choose your desired trading pair, such as BTC/USDC or ETH/USDT, from the list.

 lets you specify a price at which you want to buy or sell. 

Enter the amount you wish to trade, review the details and confirm your order.

Once your order is executed, monitor its status in the 

Bybit has an intuitive interface that displays real-time updates, so you can track your trades anytime with ease. 

How to execute a spot margin trade with the Bybit app

For traders looking to leverage their positions, Bybit offers a spot margin trading feature that allows you to borrow funds to increase your buying power. Start by logging into your account and tapping on 

Choose a trading pair, such as ETH/USDC, which supports margin trading with leverage options of up to 10x. 

Once your trading pair is selected, you’ll need to select the margin amount (e.g., 

 at which you want your limit order to execute.

You’ll also see several other important metrics, such as 

Enter the amount you wish to trade, and then carefully review all of the details.

After confirming your order, your margin trade will be executed. You can track your position in the 

 tab, where you can also set up stop-loss or take-profit orders to manage risk. 

How to trade derivatives with the Bybit app

Bybit also offers derivatives trading, which allows you to speculate on the price movements of cryptocurrencies without actually owning the underlying assets. Derivatives include Futures and Perpetual contracts, which can be traded with leverage, sometimes up to 100x.

To start, log in to your account and tap on 

Set your desired leverage (e.g., 50x) and choose between 

 margin modes, based on your risk preference.

 (if using limit or conditional orders) and 

Once you’re satisfied with your parameters, confirm your order and your position will appear in the 

Trading with the Bybit app offers numerous advantages that make managing digital assets both efficient and secure. The platform’s user-friendly design, high-speed execution and comprehensive risk management tools cater to traders of all levels. Our Unified Trading Account (UTA) streamlines fund management by consolidating assets for spot, margin and derivatives trading under one account, which reduces operational complexity and enhances overall efficiency. This streamlined approach lets you focus on strategy rather than logistics.

Additionally, Bybit’s state-of-the-art security measures — such as multi-factor authentication, regular independent audits and cold storage of assets — ensure that your transactions are conducted safely and transparently. With an interface designed to minimize distractions and provide real-time data, you can quickly monitor market movements and adjust positions. 

Our commitment to a secure and reliable trading experience is evident in our continuous improvements and proactive customer support. These features empower you to make informed trading decisions, fostering confidence in your ability to navigate the dynamic crypto market.

Bybit delivers a secure, robust and intuitive mobile platform that simplifies cryptocurrency trading for everyone. In this guide, we’ve explored how to set up an account, fund it and execute various types of trades — spot, margin and derivatives — using a fully localized and user-friendly interface. Our Unified Trading Account and comprehensive risk management tools ensure a smooth trading experience so you can focus on growing your investments.

Looking ahead, Bybit remains dedicated to innovation and excellence in the crypto industry. We continually refine our platform, based on user feedback and market trends, ensuring that you have access to the latest tools and features. Our commitment to transparency and security underpins everything we do as we build trust and empower traders. 

How to trade spot crypto on Bybit app.png

How to trade with the Bybit app

Approval of an Aptos Spot ETF could drive price growth and mainstream adoption by offering regulated, accessible exposure to APT for investors.

In early March 2025, Bitwise Asset Management, Inc. filed an S-1 registration statement with the SEC to launch a Aptos Spot 

 (ETF), sparking fresh excitement in the crypto market. Known for its cutting-edge blockchain architecture and lightning-fast transactions, Aptos is gaining traction, and now joins the growing list of projects seeking mainstream investment products. 

This article describes how an Aptos Spot ETF works, its potential impact on the market, regulatory hurdles and the significance of potential approval for the future of altcoin investments. Could this be the move that propels Aptos to blockchain supremacy?

An Aptos Spot ETF is an exchange-traded fund that physically holds the 

 (APT) cryptocurrency and directly tracks its real-time price, providing investors exposure to its market performance without needing to own the asset itself.

An Aptos Spot ETF would operate by acquiring Aptos tokens through authorized participants (APs), typically large financial institutions. These APs play a crucial role in the creation and redemption of ETF shares. They purchase Aptos tokens, either from the open market or directly from exchanges, and transfer them to the ETF in exchange for newly issued shares.

Once the tokens are bought, the ETF stores them securely, often through specialized custodial services that ensure transparency and regulatory compliance. The ETF tracks the value of Aptos (APT) by referencing a specific pricing benchmark, such as the CF Aptos-Dollar Settlement Price, aggregating data from major trading platforms in order to accurately reflect the APT token’s market value. 

Creation and redemption of Aptos Spot ETF shares

Creation and redemption of ETF shares takes place in large blocks, known as Baskets, which typically consist of 10,000 shares. APs are key in maintaining liquidity and ensuring that the ETF’s price stays aligned with the value of the underlying asset. 

In the creation process, an AP delivers cash for an amount equivalent to the value of the ETF shares it wants. The fund’s sponsor then uses this cash to acquire Aptos tokens from pre-approved trading counterparties, who operate independently of the APs. Once the tokens are acquired, the ETF issues the corresponding number of shares to the AP, which can then sell them on the open market.

On the flip side, during the redemption process, an AP wishing to redeem ETF shares returns the specified number of shares to the fund. In return, the AP receives cash for an amount equivalent to the value of the underlying Aptos tokens. To fund this redemption, the sponsor arranges for the sale of the required Aptos tokens to approved counterparties, and the cash proceeds are used to fulfill the redemption request.

Once created, ETF shares are listed and traded on public stock exchanges, allowing investors to buy and sell them as they would traditional stocks during market hours. This provides liquidity and accessibility to a broader range of investors.

The ETF provider charges an annual management fee for overseeing the fund's operations. These fees compensate the provider for managing the fund and ensuring its alignment with the underlying asset's performance. This mechanism ensures that the Aptos Spot ETF stays closely aligned with the market value of Aptos tokens, while offering investors the convenience of trading ETF shares on traditional financial markets.

On Mar 5, 2025, Bitwise Asset Management submitted an 

 to the US Securities and Exchange Commission (SEC), seeking approval to launch an Aptos Spot ETF. To address regulatory concerns, Bitwise has decided to exclude a staking provision from the Aptos ETF. (

 allows users to earn rewards by holding their cryptocurrency instead of selling it, but this can complicate ETF structures and raise issues with the SEC.) 

Bitwise still needs to submit an SEC Form 19b-4 for its Aptos Spot ETF application. Once the SEC acknowledges receipt of the 19b-4, the review process will officially begin, which could take several months. With the SEC grappling with an increasing number of Spot ETF applications, Bitwise's filing is expected to draw significant attention. The outcome could set an important precedent for the future of altcoin ETFs in the US.

Current impact of Aptos Spot ETF applications on the crypto market

The announcement of Bitwise’s filing for an Aptos Spot ETF had an immediate and positive effect on the crypto market. In response to the news, 

, jumping more than 18% to around $6.48. This spike reflected investor optimism surrounding the potential approval of the ETF and the impetus it would provide for growing acceptance of Aptos in traditional financial markets.

The market’s reaction highlights a rising interest in alternative cryptocurrencies, as well as the anticipation of more diversified investment options. While the approval of the Aptos Spot ETF is still uncertain, the filing has already had a significant impact on market sentiment, demonstrating the powerful influence of regulatory developments on cryptocurrency valuations.

What will it mean if an Aptos Spot ETF application is approved?

​The approval of an Aptos Spot ETF by the US SEC would mark a significant milestone in the cryptocurrency and traditional finance sectors. 

Looking to capture the market and trade APT tokens? Bybit offers the 

The potential approval of an Aptos Spot ETF represents a transformative moment for both the crypto and traditional finance sectors. It promises increased accessibility and liquidity for Aptos, while also offering institutional and retail investors a regulated means to gain exposure to Aptos via its APT token. Enhanced price discovery and regulatory validation could stabilize the token’s value and boost market confidence. Finally, success in this application may pave the way for additional altcoin ETFs, broadening investment opportunities and further integrating cryptocurrencies into mainstream financial markets.

aptos etf.png

Aptos Spot ETF: Fast track to blockchain supremacy

Bybit Learn

y00ts is a Solana-based NFT project that allows users to make and sell PFPs. It features 15,000 NFTs in the collection. Find out more about it in this article.

If you're an NFT enthusiast, you've probably picked up on the excitement around y00ts. Want to learn more? You're in the right place. Read on to discover what it is, the team behind it, how to make money with it, how to buy it and much more.

y00ts is a new non-fungible token project that allows users to make and sell PFPs. As a bonus, it's on the 

 blockchain — one of the fastest in existence.

, which is also the team behind the famous 

 NFT collection that recently hit an all-time high price in SOL. 

The y00ts NFT collection is centered on a sheep avatar, with layers of metadata to give y00ts their unique characteristics. There are a total of 15,000 NFTs in this collection, each one available to mint for 375 DUST tokens.

 are pieces of NFT art designed for use as profile pictures. Designs generally feature images of characters or avatars, making them popular among fun-loving internet surfers and individuals who'd rather not use their own photos.

Their status as NFTs differentiates them from other profile picture artworks, which creates serious appeal for collectors within the NFT space. The exclusivity of using an NFT image is exciting enough to entice even celebrities to display them.

Numerous PFP NFT projects within the overall NFT market have come and gone, but this one seems like it's here to stay.

Initially, this Solana NFT project wasn't meant to be y00ts at all. The DeGods developers planned a project called

, which would have been an expansion collection within the DeGods ecosystem. However, the creators realized Duppies didn't go far enough. According to the 

, y00ts aims to be "a common-sense version of copyright & ownership for NFTs."

The founders' vision involves y00ts functioning like a regular copyright, but with a few differences. Typically, one entity handles intellectual property rights. In the case of y00ts, the NFT collection will function as a governing body to do that job in a decentralized manner.

With y00ts, intellectual property (IP) rights aren’t specific to one holder; instead, they’ll exist in a registry listing, where everyone can see who’s approved to use each NFT's IP. Nobody can be sure whether this founding vision will catch on, but y00ts will be a fascinating test of this new licensing implementation method.

The y00ts Solana NFT project is the brainchild of 

Solana project DeGods is a digital art collection, but it's also a community full of developers, creators, artists and other innovators. Dust Labs, meanwhile, is a software company that specializes in benefiting holders by raising the value of NFTs. Considering the success of both DeGods and Dust Labs, it's hard to think of a better founding duo.

The popularity of these NFTs is undeniable, even though the project hasn't yet launched. That's obvious when you visit the website and see that applications for scholarships to mint y00ts NFTs are no longer being accepted.

That popularity is based partly on the success of earlier projects from the founders. Frank and Kevin's transparency on Twitter doesn't hurt, either. And that's not all: y00ts stands out for its sole focus on PFPs and its attempt to change the copyright game. Often, PFP projects are afterthoughts in broader projects. But that's not the case here.

The y00ts store is a marketplace where PFP holders will be able to customize avatar traits. Artists who create them can earn royalties from the sale of the traits they’ve created. Of course, artists can also choose to make the trait free of charge.

It’s important to note that eligibility to use the store won't be automatic. Instead, you’ll need to stake a y00ts NFT for 30 days before you can earn the ⓨ token which will allow you to shop.

Each PFP will be highly customizable. When someone wants to create a custom y00ts trait, they can submit it for approval. There are a few restrictions, though:

Creators whose traits are approved will own the ⓨ (y00ts copyright) of the IP.

There are two notable ways to earn money with ⓨ. Being an artist is the obvious one. Fortunately, non-artists can make bank, too.

y00ts artists' wallets won't be complaining about the numerous ways to make money.

After a trait receives approval, the creator owns the license. That means they can set their prices, decide whether to accept SOL or DUST (the DeGods community token), and earn 5% royalties on every sale. They can even sell the license in its entirety if they want to. It is important to note that the 

 mentioned that the DUST token has no economic value. Instead, the price of the token is determined by the free market. As of now, the price of one DUST token is approximately $1.51.

Artists can also pick the quantity available, giving them control over the supply and, hopefully, creating more demand for rare traits.

The fun doesn't stop there. Creators can also design fashion brands for the collection, and apply them to numerous traits.

Last but not least, artists will have the opportunity to complete paid commissions for y00ts holders.

 the financial fun. Fortunately, enterprising individuals can earn significant cash without creating a single trait.

Users will be able to make traits for six months. After that, the y00ts store will stop accepting them. Once that happens, holders can divide their y00ts into parts. They can then sell the individual items, which will be in limited supply. y00ts holders can also trade for other traits.

Additionally, non-artists can create y00ts clubs — sub-communities based on commissions of custom sets of traits. They only need to pick an artist from the y00ts store. Holders can then register their clubs with ⓨ and add their own logos.

The y00ts developers envision clubs revolving around things like memes and common interests, though y00ts holders will undoubtedly come up with surprises.

All traits within a registered club fall under one y00ts copyright, so a club creator can monetize the entire sub-community. They'll receive royalties from every y00ts sale of a trait from their club. Alternatively, club owners can sell the rights to traits for DUST or SOL.

This is the general breakdown of y00ts' rarity structure, give or take a couple of percentage points:

The launch date for y00ts was supposed to be September 2, 2022, which has come and gone. The delay occurred because, for reasons that are still unclear, Twitter briefly

 of several members of the y00ts team on August 31. Twitter is the primary method through which the y00ts team communicates, and the account suspensions made it challenging to complete all necessary pre-launch tasks.

The new launch date was purported to be Sunday, September 4, at

.” However, the mint was once again pushed back after the team ran into a blocker bug, as 

. If a fortune teller were here, they could tell you the market cap and the most expensive sale; alas, they are not. To get that information as soon as possible after launch, you can check

So far, 200 SOL is the highest sale price these NFTs have reached. There are, however, secondary market listings offering them for prices as impressive as 

. At the collection's highest floor price, its market cap reached almost 2.8 million SOL.

After starting at 124 SOL upon launch, the floor price quickly reached 186 SOL (about $6,138 at the time) within 24 hours, with only a brief dip to 129 a little after 6 a.m. on September 6. The floor is now 136 SOL ($4,243).

 taught us anything, it's that Frank — the founder of both y00ts and DeGods — knows how to lift floor prices. You can see how much DeGods’ floor rose in just the past three months right

With a cofounder like Kevin, who specializes in raising NFT value, it's fair to say that y00ts' floor price could continue to rise. Displays of eager anticipation from those who wish to buy y00ts tokens further emphasize how well things might go.

The first people to get their metaphorical hands on y00ts were

. Minting cost them 375 DUST (currently around $725, though the value was higher at launch), the DeGods system's native token. There were originally 15,000 NFTs available, though many have now been minted.

Despite the fact that scholarship winners got the first chance to mint y00ts, that's not the only way to get them. DeGods holders also had a shot at getting them early. Fortunately, the rest of us have options, too.

Individuals had to apply for a scholarship to get on the “y00tlist” — similar to a presale list — and mint an NFT. If you're reading this article, it's too late for you to get a y00ts scholarship, since the collection has already launched. However, it would have been too late even if you'd attempted it a couple of days before launch. The applications closed on September 2, two days earlier than expected. That was likely an unpleasant surprise to anyone who had heard earlier statements that applications would close September 4.

The scholarship was an interesting choice on the developers' part. Let's talk about how it works.

The team members behind this Solana NFT project say they chose applicants based on merit. In this context, merit means people they believe will actively participate in the community while adding value. Developers expect that a curated community will help y00ts flourish.

Some have worried that "merit" might mean "has a big Twitter following," but that's not the case. People with small follower counts received fair consideration as well.

The scholarship process involved checking to ensure applicants had enough SOL or DUST to mint their project. It also required applicants to verify their social media accounts and answer several relevant questions. Each person had to state which category they fall under: Artist, meme creator, etc.

Anyone who didn't make it to the y00tlist must turn to the open NFT market.

If you can't manage to get a y00ts NFT in the primary market, you can always head to a secondary market.

, Solana’s top NFT market, is a particularly good option. Its biggest draw? Low transaction fees. Magic Eden also has the best attributes filter around.

A new NFT market seems to pop up every second, but sticking with a well-established, trustworthy choice like Magic Eden is wise.

 is another popular platform where you can find these NFTs. Rarible now has a large selection, too.

As stated previously, unless you're a fortune teller, you can't be sure that y00ts NFTs are an excellent long-term investment. But anyone who's paying attention can make an informed guess that they will be. Here's why:

Another reason for high hopes is one that’s too big to include in a bullet list. Dust Labs, the software company behind y00ts, recently 

. The funding round saw investments from Chapter One, Foundation Capital, FTX Ventures, Jump Capital, Metaplex and Solana Ventures. A belief in y00ts' future success played no small part in confidence among these investors.

y00ts has the potential to become a game changer in the NFT PFP world, wildly surpassing other PFP projects. Its novel approach to managing intellectual property rights, singular focus on PFPs and insistence on creating a great community from Day 1 make it stand out in a saturated field.

y00ts NFTs: Creating More Than Just NFT PFPs

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