Bybit is expanding yield opportunities for holders of its liquid staking token, bbSOL, by integrating several decentralized finance ecosystem.

The crypto exchange, the second-largest globally by trading volume, announced the initiative on Nov. 15, highlighting new DeFi yield opportunities made possible through strategic partnerships

According to the press release, Bybit is collaborating with platforms such as RateX, marginfi, and Save to bolster bbSOL, which recently reached an all-time high of $230 less than three months after its launch.

Bybit has partnered with leveraged yield exchange RateX to introduce synthetic yield farming for bbSOL holders. This product enables holders to trade synthetic yield tokens tied to various yield-bearing assets while benefiting from fixed yield conversion and liquidity provision.

Bybit’s is also eyeing bbSOL dominance with collaboration with leading Solana (SOL) lending and borrowing protocols Save and marginfi. 

Together, the DeFi protocols bring a total value locked of $900 million in liquidity to bbSOL. DeFiLlama data shows Save has a TVL of $506 million, while marginfi’s currently stands at around $478 million.

Currently, bbSOL is available across eight DeFi projects on Solana and is increasingly adopted within centralized finance products on Bybit. Users can convert over 300 crypto assets on the exchange into bbSOL, enhancing its accessibility.

Bybit launched bbSOL, its first exchange-backed liquid staking token on Solana in September.

The ecosystem also boasts of another exchange-based Solana LST by Binance, bnSOL. Like bbSOL, Binance staked SOL allows holders to earn from their staked Solana coins as well as staking rewards from other Binance products.

Binance will be the first platform to launch the stablecoin USUAL on Nov. 19. The crypto exchange will provide trading support for USDT and USUAL trading pairs.

In a notice published on Nov. 14, Binance announced the 61st project that will be launched on Binance Launchpool, the stablecoin Usual. The webpage for Usual is expected to be available 12 hours before the pre-market launch on Nov. 19 at 10:00 UTC.

Usual Labs is a decentralized fiat stablecoin issuer backed by Kraken, Mantle, Starkware and GSR, as well as more than 150 investors. The token will be launched on the Ethereum network.

According to the announcement, users will be able to receive airdrops for the USUAL tokens in the form of BNB (BNB) and FDUSD (FDUSD) within four days. Farming for USUAL will start on Nov. 15 at 00:00 UTC.

According to Usual’s X post, the stablecoin uses a revenue-based model that prioritizes its community members.

According to data from CoinMarketCap, the Usual stablecoin went up by 0.08% and is current trading hands at $0.9991. The stablecoin has a market cap of $345.71 million and a total supply of 346 million USUAL tokens.

Binance provides a total token supply of 4 billion USUAL tokens, with 7.5% of the supply being allocated to rewarding users. The initial circulating supply for the stablecoin’s listing will be 12.37% of the total token supply, amounting to 494,600,000 USUAL.

Usual will be available for pre-market trading in USUAL/USDT trading pairs. At the moment, it is only available for pre-market trading with the exchange stating that the pre-market closing time and spot listing time will be announced at a later date.

Last week, the stablecoin issuer completed a round of community funding which raised a total of $1.5 million. The Echonomist, Breed Syndicate, and Comfy Capital were among the investors participating in the community round.

Usual introduced the stablecoin USD0 in February 2024, describing it as a permissionless stablecoin backed by real-world assets. It also serves as a governance token that allows users to vote on the network’s future.

Bitcoin, the world’s largest crypto asset, hit a record-high trading volume after the cryptocurrency reached a new all-time high of $89,956 on Nov. 12.

According to a Matrixport report, Bitcoin’s trading volume soared above $145 billion in the past 24 hours, marking a new all-time peak that stands roughly 50% above previous highs observed in August and March this year.

In later trading hours, the volume continued to climb, briefly surpassing $170 billion according to Coingecko data.

Analysts at Matrixport noted that the surge in Bitcoin’s volume was driven largely by growing retail investor interest following Donald Trump’s recent victory in the U.S. presidential election. 

Trump has vowed to foster a crypto-friendly environment in the U.S., with promises to make it the “crypto capital of the planet,” establish a Strategic Bitcoin Reserve, and replace SEC Chair Gary Gensler—a stance the crypto sector views as a strong bullish catalyst.

Google searches for Bitcoin have also significantly increased, reaching the highest level in five years, with a 78% rise, also confirming the growing public interest in the flagship cryptocurrency.

Further, spot Bitcoin ETFs have also recorded a major uptick following Trump’s victory, bringing in over $4.2 billion, which has helped fuel Bitcoin’s rally to its recent all-time high.

Matrixport’s analysis noted that, based on historical trends, growing retail trading activity often sustains for several weeks, sometimes even months, during market upswings. As such, it is likely that BTC will maintain its bullish momentum in the coming weeks, the report added.

When writing, Bitcoin (BTC) was down 2.61% from its all-time high, as the cryptocurrency appeared to be undergoing a typical correction following its recent rally.

However, BTC proponents, like Michael Saylor, Arthur Hayes, and much of the crypto community, remain optimistic, projecting prices will climb higher, with targets of $100,000 and beyond.

Previously, analysts at Berstein noted that they remain confident in their price target of $200,000, owing to a crypto-friendlier regulatory environment under Trump, and the hopes of a pro-crypto SEC.

On X, one crypto trader pointed to a potential bullish pennant pattern forming on Bitcoin’s four-hour chart, noting a possible target of $103,000 in the near term.

Meanwhile, banking giant Standard Chartered expects BTC will reach $125,000 by January 2025.

However, before its next leg up, pseudo-anonymous analyst Rekt Capital expects Bitcoin’s price to correct further. According to the analyst, Bitcoin has only reached about 50% of its potential gains this bull cycle and expects the peak to be hit sometime around October next year.