Polymarket has become the official prediction market of Elon Musk’s X, launching a new real-time tool that combines data from X posts, Polymarket event contracts, and xAI’s chatbot Grok to explain market movements. 

The S&P 500 steadied after a 1.5% weekly gain, with markets eyeing U.S.-China trade talks and key inflation data ahead. Gold steadies near $3,310 as strong US jobs data lifts the dollar, while US-China trade talks may support safe-haven demand. CoinDesk Indices, which track the broader crypto market, rose 0.42% in the past 24 hours, while Bitcoin and Ether dropping 0.29% and 0.98%, respectively. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is LA, up 8.7% after the Lagrange token debuted on Bybit with a 2.5M prize pool incentive.

Lagrange (LA), founded in May 2023, is a blockchain infrastructure project introducing the first infinite proving layer, powered by a decentralized ZK Prover Network and a hyper-parallel ZK Coprocessor. Its native token, $LA, supports proving operations, transaction fees, and staking, with a total supply of 1 billion and a 4% annual emission rate. 

, with a 2.5 million $LA prize pool available for traders and depositors in celebration of the launch.

Check out the latest prices, charts, and data of 

, launching a new real-time tool that combines data from X posts, Polymarket event contracts, and xAI’s chatbot Grok to explain market movements. This marks the first of several planned integrations aimed at offering contextual, data-driven insights to users. The partnership highlights the growing fusion of traditional tech platforms with blockchain and crypto technologies.

BTC spot ETFs saw a net outflow of $131.6 million for the week ending June 6, 2025, driven by sizable redemptions on Monday and Thursday despite strong mid-week inflows. GBTC accounted for $40.6 million in outflows, while non-GBTC ETFs saw $91.0 million withdrawn. Since inception, total net inflows remain strong at $44.2 billion.

 has launched for farming Optimism XP: a weETH pool on Unichain now offers a 6x–8x multiplier, replacing the previous 0.25x rate on Optimism. To take advantage, users should withdraw their existing weETH/WETH position from Velodrome, convert all WETH to weETH, bridge their weETH to Unichain via Stargate, and supply it on Euler. The process is flexible, allowing withdrawals at any time. This update presents a significant boost for those farming XP, so acting quickly is advised while the high multiplier lasts.

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Polymarket partners with X to power real-time market prediction tool

Bybit’s Crypto Loans platform empowers traders with intuitive, transparent tools to maximize their assets’ potential, ensuring they can seize every moment of this cycle with confidence.

This post is written by Emily Bao, Head of Spot at Bybit.

The current crypto bull market is alive with opportunity. But as thrilling as these cycles are, lasting success often comes down to something less glamorous but far more crucial: strategic capital management.

In a market that moves at lightning speed, ensuring your funds are always working for you is paramount. Capital efficiency means more than just smart trading. It’s about maximizing returns by actively deploying your assets, whether through trading, staking or even borrowing, all while carefully managing risks.

As head of spot at Bybit, I’ve seen how streamlined and transparent financial tools are essential for navigating the volatile crypto market cycles. That’s why I’m particularly excited about Bybit’s 

Why capital efficiency matters in a bull market

Managing capital in crypto can be a fragmented and often confusing experience. Traders often have to juggle multiple platforms, grapple with opaque risk models or decipher complex fee structures. This wastes time and can also lead to missed opportunities — or, worse, overexposure to risk.

Bull markets amplify both the potential rewards and the dangers. Prices can surge, new projects can offer exciting prospects and the FOMO can be intense. However, this environment also brings heightened volatility, which could affect margin positions if not managed carefully.

Further, to stay competitive and maximize gains, traders need to optimize their capital, whether that means borrowing to seize a fleeting trading opportunity, freeing up liquidity for a new token launch or simply managing their existing positions more effectively against market swings.

Bybit’s new unified Crypto Loans are a game-changer

At Bybit, we’re always listening to our users and striving to simplify their trading experience. That’s why we’ve integrated our previously segregated 

. This isn’t just a cosmetic change; it’s a fundamental upgrade designed to make borrowing more intuitive, transparent and efficient for all types of traders.

 several key features that directly address the need for better capital efficiency. We’ve implemented a unified cross-margin model, meaning a shared cross-margin system for both flexible and fixed-term loans. This allows for consolidated loan-to-value (LTV) ratios — initially 80%, with a margin call at 85% and liquidation at 92% — simplifying your overall risk management.

Another powerful feature is shared collateral, where you can use assets like Bitcoin (BTC), Ethereum (ETH), USDT or USDC interchangeably across different loans. This enables agile capital allocation without needing to prematurely liquidate appreciating assets.

We also employ tiered collateral ratios, which assign asset-specific risk profiles, providing transparent borrowing limits based on what you hold. For our flexible loans, hourly interest calculation with compounding ensures fair, predictable costs, making strategic planning easier.

Let’s consider a common scenario where a trader needs liquidity but doesn’t want to sell their crypto assets.

Imagine that Alice is holding 5 BTC during a bull run, anticipating further price increases, but she also wants to invest in a promising new altcoin. With Bybit Crypto Loans, she can pledge her Bitcoin as collateral and borrow USDT, freeing up capital to make the altcoin trade. This way, she maintains her core BTC position while potentially profiting from the altcoin trade.

Another example case involves needing margin for leveraged trading in 

. If Alice identifies a 3x leveraged long opportunity on ETH but lacks sufficient margin after a recent trade, our UTA Loan feature can help. In this scenario, Alice can automatically borrow the necessary ETH to meet the margin requirement, ensuring she doesn’t miss her entry. The borrowing and repayment are handled seamlessly within the UTA.

Managing risk during market volatility is also crucial. Suppose our trader uses a loan to borrow USDC for an arbitrage play, and a sudden 15% market dip pushes her LTV ratio close to the 85% margin call threshold. With our unified platform’s transparent dashboard, which allows for real-time LTV monitoring, Alice can then quickly add more collateral, such as BTC. This way, she can lower her LTV and avoid a margin call, all from a single interface.

Unlocking your capital’s full potential

In a fast-moving bull market, the ability to access and manage capital efficiently is what separates successful traders from the rest. Bybit’s unified Crypto Loans platform is designed to give you that edge.

What truly sets our offering apart is our industry-leading risk buffer — we offer a high LTV of 92%, which means liquidation only occurs if the LTV reaches or surpasses this point. We also have the highest strong flat line in the industry, with a risk rate at or below 95%.

What’s more, we provide comprehensive options, supporting both fixed and current (flexible) loans across a diverse range of assets so you can choose the borrowing strategy that best fits your goals.

Finally, we’ve focused on creating a seamless experience by integrating current and fixed deposits into a single, intuitive UI, making the borrowing process easier than ever.

Unified Crypto Loans provides the tools you need to put your cryptocurrencies to work, enhance your trading strategies and navigate the bull run with greater confidence and efficiency. Visit

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Seize the bull run: Why Bybit’s Crypto Loans are a game changer for capital efficiency

The cryptocurrency market has undergone significant transformations since Trump’s US presidential election win in 2024, with major companies capitalizing on the more favorable regulatory environment for crypto firms. 

The cryptocurrency market has undergone significant transformations since Trump’s US presidential election win in 2024, with major companies capitalizing on the more favorable regulatory environment for crypto firms. One of the most notable milestones in this evolution was the 

successful IPO of Circle, the issuer of the USDC stablecoin

. Circle's public debut with the stock code CRCL not only marked a significant achievement for the company, but also set the stage for a wave of potential 

 in the crypto sector that could excite investors in 2025.

Circle's IPO: A benchmark in the crypto space

Circle's journey to becoming a publicly traded company began with its strategic decision to merge with a special purpose acquisition company (SPAC). This route has become increasingly popular among tech companies looking to go public, as it often provides a faster and less cumbersome process than traditional IPOs. Circle's IPO was particularly significant because it highlighted the growing acceptance of cryptocurrencies in mainstream finance.

Upon its debut, Circle's stock jumped from an IPO price of $31 to close at $107 in its first week of trading, driven by the increasing adoption of cryptocurrency and the rising demand for 

Investment bankers underestimate Circle's valuation

Investment bankers underestimated Circle's valuation during its IPO despite significant investor demand, including interest from ARK Invest. The oversubscription revealed this misjudgment. Despite initial interest, ARK Invest acquired shares only through the secondary market post-debut. This strong fund house interest could have justified a higher IPO price. Clearly, traditional valuation methods are inadequate for cryptocurrency companies, at least currently, due to the scarcity of publicly traded crypto firms. Investment bankers appear to be unfamiliar with accurately assessing crypto valuations.

After an impressive first week, valuation metrics suggest CRCL's valuation is excessively high. However, a closer examination of Circle's financials reveals significant potential for improved profitability. Tether 

 for the first half of 2024, with a $1.3 billion net operating profit in the second quarter alone, indicating a 25% net operating profit margin. In contrast, CRCL's 2024 net operating profit margin is only 10%, according to data from Seeking Alpha.

 Should CRCL's profitability reach Tether's level, its P/E ratio would significantly decrease to around 50x. While a 50x P/E ratio would remain elevated, it’s not unusual for rapidly growing companies in traditional finance. 

What’s more, the rarity of stablecoin issuers in the TradFi market should provide some premium to the CRCL valuation.

Investors need to be aware of price adjustments, based on the Coinbase experience

In the 2022 bull market, Coinbase's IPO displayed trends similar to CRCL's recent experience, with a sharp decline in share price, mirroring a broader market correction that began in late 2022. This drop saw Coinbase's shares plummet from $3,000 to under $100. Consequently, CRCL investors are advised to anticipate heightened volatility, a common risk for growth stocks like Coinbase and Circle. Despite these concerns, there's optimism, as Coinbase has recovered its share price over the subsequent two years.

With Circle's success as a backdrop, many companies in the crypto space are now eyeing the public markets. Apart from Gemini’s 

, the potential for a wave of IPOs in 2025 could bring renewed excitement to the market, with several candidates poised to make their mark. 

As a leading developer in the Ethereum ecosystem, Consensys has made significant contributions via products like MetaMask and Infura. With a valuation estimated at around $7 billion, the company is reportedly in a strong position to pursue an IPO, and Consensys' public listing could attract attention due to its pivotal role in the 

Ledger, known for its hardware wallets that provide secure storage for cryptocurrencies, is another strong candidate for an IPO. The company has gained traction among individual investors and institutions alike, as cybersecurity becomes an increasingly critical concern in the crypto space. A Ledger public offering could further solidify the company’s reputation as a leader in the security sector.

Fireblocks, an institutional custody provider, has seen its valuation soar to approximately $8 billion. With institutional interest in cryptocurrencies on the rise, Fireblocks' IPO could be particularly attractive to investors looking to capitalize on the growing adoption of digital assets by traditional financial institutions.

As one of the largest cryptocurrency exchanges in the US, Kraken has been a staple in the crypto community. The company has expressed intentions to go public in the near future, and an IPO would likely generate significant buzz in the crypto market as Kraken's robust trading platform and commitment to compliance could make it an appealing option for investors.

Chainalysis, a blockchain analytics firm, has positioned itself as a vital player that helps businesses and governments understand 

. Due to increasing regulatory scrutiny in the crypto space, Chainalysis' services are in high demand. A public offering could enable the company to expand its operations and solidify its market leadership.

Bithumb, one of South Korea's largest cryptocurrency exchanges, is reportedly planning an IPO on the KOSDAQ, with potential aspirations for a listing on the Nasdaq-100. Given the growing interest in Asian markets, Bithumb's public debut could attract global investors looking to tap into the burgeoning crypto scene in Asia.

 Blockchain.com, a cryptocurrency exchange and block explorer with a strong user base, and Animoca Brands, a leading player in web3 gaming that’s focused on developing play-to-earn games, are both on the radar for potential IPOs.

The anticipated wave of crypto IPOs in 2025 could significantly impact market sentiment. As more companies enter the public arena, the legitimacy of the cryptocurrency industry will increasingly be reinforced. Investors are likely to be drawn to these offerings, especially given the track record of success demonstrated by Circle's IPO.

Moreover, the increasing demand for cryptocurrencies and blockchain technology suggests that the market is ripe for new opportunities. Investors eager to get involved in the next generation of digital finance will be closely watching these upcoming IPOs that could provide lucrative entry points into the evolving landscape of the crypto industry.

Circle's successful IPO has set a benchmark for the cryptocurrency sector, paving the way for a series of potential public offerings in 2025. Companies like Consensys, Ledger, Fireblocks and Kraken are just a few examples of the many players eager to make their presence known in the public markets. 

As the crypto landscape continues to mature, these IPOs could not only excite investors, but also further legitimize the role of cryptocurrencies in the global economy. The future looks promising, and the coming years may witness a transformative era for both the crypto market and its stakeholders.

Advanced

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Bybit Crypto Insights Report: Investment bankers underestimate Circle’s valuation; what are the next potential crypto IPOs?

Major TradFi institutions are increasingly entering the stablecoin market, collaborating to launch stablecoins and enhance their credibility in mainstream finance.

: Major TradFi institutions are increasingly entering the stablecoin market, collaborating to launch stablecoins and enhance their credibility in mainstream finance.

: While USDT remains the largest stablecoin by market cap, USDC is rapidly gaining ground, driven by its regulatory compliance and significant institutional demand, with its market cap increasing by 87% year-over-year.

: New legislation, including the GENIUS and STABLE Acts in the U.S., is providing much-needed regulatory clarity for stablecoins, facilitating broader adoption and encouraging compliance among issuers.

: The DeFi ecosystem is moving away from algorithmic stablecoins toward overcollateralized models, reflecting a preference for stability and regulatory compliance amid past failures.

: The stablecoin market has reached a total capitalization of $250 billion, indicating a robust growth trajectory and positioning stablecoins as integral components of the global financial system.

Institutionalization of stablecoins: Big players are rushing in

In 2025, the stablecoin landscape is increasingly being shaped by institutional players, with significant involvement from traditional finance (TradFi) institutions such as JPMorganChase, Bank of America and Citigroup. These banks are exploring joint stablecoin initiatives, leveraging their credibility to enhance adoption and integration into mainstream finance. Projects like Circle's USDC are benefiting from regulatory compliance, capturing market share from competitors. 

Bybit has emerged as a leader in stablecoin innovation, offering unique products such as USDtb, backed by institutional-grade assets. This institutional embrace is blurring the lines between TradFi and 

, enhancing the legitimacy of stablecoins within various financial applications.

The stablecoin market is expanding quickly

The stablecoin market has seen substantial recent growth, with a total market capitalization of $250 billion as of May 2025, marking a 17% increase year-to-date. USDC is emerging as a significant competitor to USDT, growing its market cap from $32 billion to $60 billion and driven by institutional demand for compliant alternatives. While USDT retains the largest market share, accounting for 63% as compared to USDC's 25%, USDC's growth trajectory suggests a potential shift in dominance. Trading volumes for USDC have surged, reflecting its strategic adoption by leading exchanges and further solidifying its position as a preferred choice among regulatory-compliant stablecoins.

DeFi stablecoins pivot to overcollateralization and compliance

The DeFi space is witnessing a marked shift toward overcollateralized and regulatory-compliant stablecoins as it moves away from algorithmic models that have faced increased scrutiny. With the 

, confidence in algorithmic stablecoins has declined significantly. As of now, algorithmic stablecoins represent only $800 million of the total market cap, down 77% since Terra’s UST collapse. In contrast, crypto-backed stablecoins, such as Dai and USDe, account for approximately $17 billion. This trend reflects a growing preference for stablecoins that offer robust collateralization and regulatory compliance, indicating a maturation of the DeFi space in alignment with broader market dynamics.

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Bybit Crypto Insights Report: Stablecoin growth drives crypto adoption, with regulation-compliant stablecoins leading the pack

Glossary

A limit order is a function in cryptocurrency trading that allows you to establish the exact price range for selling or buying your digital assets, particularly in terms of the minimum and maximum prices.

In the dynamic world of trading, understanding and effectively utilizing limit orders is crucial. This comprehensive guide will explore the ins and outs of limit orders, their strategic importance in trading, and how they can be a game-changer for both novice and experienced traders.

A limit order is an instruction to buy or sell a security at a specific price or better. Unlike market orders, where transactions occur immediately at the current market price, limit orders give traders control over the price at which they're willing to trade.

The Role of Limit Orders in Trading Strategies

One of the primary advantages of limit orders is their ability to help traders control entry and exit points. By setting a specific price, traders can plan their trades more strategically, leading to potentially more favorable outcomes.

. For instance, traders might set a buy limit order at a support level or a sell limit order at a resistance level, identified through technical indicators like 

A key benefit of limit orders is risk management. By predefining the price, traders can prevent buying too high or selling too low, thus managing potential losses.

A buy limit order is placed below the current market price and executed at the limit price or lower. It's often used in anticipation of a bullish reversal after a price decline.

Conversely, a sell limit order is set above the current market price and executed at the limit price or higher. This is typically used to secure profits before a potential bearish reversal.

For comprehensive trade management, limit orders can be combined with 

. This approach allows traders to set both a target price and a stop-loss to manage risks effectively.

Limit orders are versatile and can be adapted to various market conditions. In a 

, for instance, sell limit orders can be particularly effective.

The cryptocurrency market, known for its volatility, can greatly benefit from limit orders. For instance, in Bitcoin trading, a well-placed limit order can capitalize on sudden price movements, as explained in 

Limit orders are not just for Bitcoin; they play a significant role in 

, or others, limit orders can be a valuable tool.

Imagine you're eyeing Bitcoin but find its current price too high. Setting a buy limit order at a lower price point, based on your analysis or the 

, can help you purchase it at your desired price.

If you own Ethereum and anticipate a price drop, a sell limit order set above the current price ensures you sell at a profit before any potential decline.

Understanding and utilizing limit orders is a fundamental aspect of successful trading. Whether you're involved in cryptocurrency, stocks, or any other market, mastering limit orders can significantly enhance your trading strategy.

Limit Order

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