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Crypto token failures soar, with 1 in 4 launched since 2021 dying in Q1: CoinGecko

About one in four crypto tokens launched since 2021 have failed in the first quarter of this year amid a crypto market downturn and token creation becoming easier than ever, says crypto data platform CoinGecko.

Since 2021, nearly 7 million cryptocurrencies have been listed on CoinGecko’s token tracking tool GeckoTerminal, and over half, or 3.7 million tokens, “have since stopped trading and are considered failed,” CoinGecko research analyst Shaun Paul Lee said in an April 30 report.

“Alarmingly, the first quarter of 2025 alone saw the collapse of 1.8 million tokens,” he added, which is “the highest number of failures recorded in a single year.” It also comprises just under half of all failures and represents a quarter of all tokens launched since 2021.

CoinGecko recorded tokens with at least one trade before going defunct and only Pump.fun tokens that graduated, or completed the token creation platform’s bonding

XRP traders predict new all-time highs as ETF approval odds rise to 85%

Key takeaways:

XRP ETF approval odds rise to 85% following a SEC leadership change.

Analysts predict XRP could rise to new all-time highs again in 2025.

XRP price dropped by 5% over the past 24 hours as US GDP data showed a shrinking economy.

However, a strengthening market structure and investors’ growing hope for a spot XRP ETF approval in the United States suggest that the altcoin might revisit its April peak at $2.36 in the short term.

XRP/USD daily chart. Source: Cointelegraph/TradingView

Technical charts currently show XRP (XRP) trading within a falling wedge pattern. A “falling wedge” is a bullish reversal chart pattern that comprises two converging trend lines that connect lower lows and lower highs. This convergence indicates weakening downward momentum.

The pattern will resolve when the price breaks above the upper trendline at $2.40, and if this happens,

Robinhood beats Q1 estimates despite revenue, crypto trading dip

Trading platform Robinhood has still managed to beat Wall Street estimates as its first-quarter revenues fell and its crypto trading volume cooled from a record high in Q4.

Robinhood’s Q1 results shared on April 30 show revenues fell 8.6% from the previous quarter to $927 million, topping Zacks analyst estimates by 3.16%.

The company’s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 million from the firm’s record-setting Q4 2024.

The drop could be partly attributed to the Trump administration’s tariffs, which triggered an 18% fall in the crypto market cap over the quarter.

Crypto trading volume on Robinhood also fell 35% over Q1 compared to the fourth quarter of 2024, which the firm attributed to a 10% drop in customer trades placed and a 27% fall in average notional volume per trade.

Robinhood CEO Vladimir

Solana futures open interest nears all-time high — Will SOL price follow?

Key points:

Solana held the $140 support level for a week, a first in more than two months, highlighting traders’ growing confidence.

SOL futures open interest hit $5.75 billion on April 30, showing strong institutional interest.

With rising DEX volumes and a $9.5 billion TVL, SOL could rally to $200 before a potential spot ETF approval on Oct. 10.

Solana’s native token, SOL (SOL), fell 4% between April 29 and April 30 after failing to sustain the $150 level. Despite this short-term decline, traders seem more confident as the $140 support remained intact for a whole week, an outcome that hadn’t happened in over two months.

As demand for leveraged SOL positions reached near record highs on April 30, traders are now reconsidering the chances of a SOL rally above $200.

Solana futures aggregate open interest, SOL. Source: CoinGlass

SOL futures open interest climbed to 40.5 million SOL on April 30, marking

Ethereum bulls show interest as traders’ confidence in ETH’s $1.8K level improves

Key takeaways:

Traders remain cautious about ETH’s price action, but optimistic sentiment is beginning to return.

The May 7, Ethereum Pectra upgrade could boost investor sentiment, but ETH’s price action shows investors are still hesitant to open new positions.

Ether (ETH) has been trading below $1,900 since March, leading investors to question whether the failed attempt to reclaim $4,000 in December 2024 signaled the end of an era for the leading altcoin. Concerns continue to mount as derivatives market data shows that professional traders remain cautious about ETH’s price outlook.

ETH monthly futures should trade at a premium of 5% or more compared to spot markets to compensate for the longer settlement period, but this indicator has held below the neutral threshold.

Ether 3-month futures annualized premium. Source: Laevitas.ch

Part of the lack of enthusiasm stems from disappointment with the United States government, as Ether was

‘Huge Shift’ in crypto firms’ compliance mindset, says Elliptic co-founder

The crypto industry has seen a significant shift toward regulatory compliance since its early days, according to James Smith, co-founder of Elliptic, a crypto compliance firm established in 2013.

“In the early days, only a few companies approached compliance in a serious way,” Smith told Cointelegraph at the Token2049 event. “Coinbase was our first customer — they knew from the start that they wanted to build their business that way. But for most others, it just wasn’t a major priority.”Elliptic co-founder James Smith at Token2049. Source: Cointelegraph

That began to shift as regulators, including those in New York State, took a more active interest in the crypto industry. The involvement of traditional financial institutions like Fidelity and DBS Bank also contributed, as they entered the space with established compliance expectations from traditional finance services.

Fidelity, for instance, offered its first crypto service for customers in 2019, while the Asian giant DBS <a data-ct-non-breakable="null"

'To have freedom of money, you have to have freedom of speech' — CZ

Binance co-founder and former CEO Changpeng “CZ” Zhao took the stage at Token2049 in Dubai, United Arab Emirates (UAE), where he told the audience that his investment in social media platform X was aimed at protecting freedom of speech.

The former Binance executive joined a fireside panel with macroeconomic analyst Raoul Pal to discuss the rationale behind his 2022 investment in X and artificial intelligence. Zhao said:

“I think freedom of money is important, but to have freedom of money, you have to have freedom of speech. Freedom of speech is kind of the bottom line. If you don’t have that, nothing — no other freedom — works.”

“So, when we invested in Twitter back then, it was based on that philosophy,” Zhao continued.

The former Binance CEO also criticized Europe’s crypto policies, characterizing them as dead in the water compared to more pro-business

Bitcoin rebounds from bearish US GDP data as dip buyers push BTC price back toward $95K

Key takeaways:

Bitcoin bulls are attacking the $95,000 level again after today’s brief US GDP-induced sell-off.

Traders are semi-agnostic to negative US economic data as they expect the Federal Reserve to resume easing and rate cuts at some point in the future.

Bitcoin (BTC) price knocks on the door of $95,000 after starting the NY trading session with a slight sell-off to $92,910 following alarm-raising US GDP data, which showed the economy shrank in Q1 2025. The move mirrors a similar recovery seen in the DOW and S&P 500, which bounced 0.35% and 0.15% respectively at the closing bell.

The quick recovery in Bitcoin price highlights the strong bid by a variety of market participants, and it lines up with the view that the April 30 GDP data could be a one-off event resulting from businesses ramping up their imports ahead of President

Bloomberg Intelligence boosts Solana ETF approval odds to 90%

Bloomberg Intelligence has boosted its estimated odds of US regulators approving a Solana exchange-traded fund (ETF) in 2025 to 90%, according to an April 30 post on the X platform.

The company also set more favorable chances of approval for other altcoin ETFs, including proposed funds holding XRP (XRP) and Dogecoin (DOGE), Bloomberg analyst Eric Balchunas said in an X post.

The estimates reflect an improved outlook from Bloomberg analysts. In a February analysis, Bloomberg pegged the odds of a Solana (SOL) ETF approval at only 70%. They ascribed a 65% and 75% chance of approval to funds holding XRP and DOGE, respectively.

As of April 30, six asset managers — including Grayscale, VanEck and 21Shares — are awaiting clearance from the US Securities and Exchange Commission

Coinbase files brief with US Supreme Court in support of taxpayers' privacy

US-based cryptocurrency exchange Coinbase has filed an amicus brief in the country’s Supreme Court in support of a taxpayer fighting the Internal Revenue Service (IRS) gaining access to his data from a digital asset platform.

In an April 30 filing in the Supreme Court of the United States (SCOTUS), lawyers for Coinbase argued that a First Circuit Court of Appeals decision set a “dangerous precedent” for crypto users, potentially allowing the government to “trace users’ every crypto transaction in the past and monitor every crypto transaction in the future.” The appeal to the Supreme Court stemmed from petitioner James Harper, a Coinbase user, who took legal action against the IRS after the crypto exchange was forced to turn over transaction data to the government using a sweeping “John Doe” summons in 2017.

“This case directly affects Coinbase’s interest in protecting the privacy rights of its users and