After a sharp 75% rally, SUI is now showing signs of exhaustion as it approaches a key resistance area. Although the trend remains bullish, technical indicators suggest a healthy pause may be on the horizon before the next leg of…

Why SUI may pull back before the next bullish expansion

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&#8217;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&#8217;s crypto revenue plummeted nearly 30% quarter-on-quarter to $252 
million from the firm&#8217;s record-setting Q4 2024. 
The drop could be partly attributed to the Trump administration&#8217;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 Tenev said on an earnings call that crypto trading 
volumes would continue to fluctuate but the firm is more focused on capturing 
as much market share as possible.
Despite the fall from last quarter, Robinhood&#8217;s crypto revenue rose 100% from 
the same quarter a year ago, while trading volumes jumped 28% over the same 
period.
_Robinhood &#8216;s quarterly revenues by segment since Q1 2023. Source: 
__Robinhood_
The firm also added $500 million to its now $1.5 billion buyback authorization 
program, aimed at boosting shareholder value and confidence in the firm&#8217;s 
financial health. The company has bought back $667 million worth of shares so 
far.
Shares in Robinhood (HOOD) rose 1.51% in after-hours trading on April 30 to 
$49.85 since the firm disclosed its Q1 results, Google Finance data shows.
Tenev said Robinhood&#8217;s $200 million acquisition of Bitstamp crypto exchange is 
still looking likely to receive regulatory approval in the middle of 2025, 
which would enable it to serve institutional investors in the US.
Regulatory pressure also eased for Robinhood in Q1 after the Securities and 
Exchange Commission closed its investigation into the firm&#8217;s crypto business 
on Feb. 21.
## Crypto tokenization remains a key focus for Robinhood
Tenev said Robinhood is still exploring integrating crypto tokenization into 
the company&#8217;s services.
Tokenizing private equities is a &#8220;huge unlock&#8221; for both individuals and 
companies that can solve a lot of problems in secondary market transactions, 
he said.
_**Related:**__**Ripple $4B-$5B bid to purchase Circle rejected &#8212; Report**_
&#8220;I think that will unlock a ton of economic value for the crypto industry in 
the US,&#8221; Tenev said.
The Robinhood CEO previously said crypto tokenization could let investors buy 
tokenized shares in big-name private firms like OpenAI and SpaceX within 
minutes.
&#8220;That&#8217;s been kind of our primary policy objective in Washington when it comes 
to crypto,&#8221; Tenev said.
_**Magazine:**__**ZK-proofs unlock trillions in Bitcoin for DeFi &#8212; BitcoinOS 
and Starknet**_

Robinhood beats Q1 estimates despite revenue, crypto trading dip

**Key points:**
 * Solana held the $140 support level for a week, a first in more than two months, highlighting traders&#8217; 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&#8217;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&#8217;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 a 
5% increase from the previous month and nearing its all-time high. In dollar 
terms, this represents $5.75 billion in futures positions, ranking third in 
the cryptocurrency market and over 50% higher than the demand for XRP 
derivatives. This strong adoption of SOL derivatives points to growing 
institutional interest.
## Data shows increased demand for bearish leveraged SOL positions
Traders often believe that increased demand for SOL futures signals rising 
optimism. However, since longs (buyers) and shorts (sellers) are always 
matched, a rise in open interest does not necessarily indicate a bullish 
outlook. To better understand leverage demand in SOL futures, one can look at 
the funding rate for perpetual contracts.
_ETH perpetual futures 8-hour funding rate. Source: Laevitas.ch_
Currently, the funding rate on SOL perpetual futures is negative, which shows 
more demand for bearish positions. The last period of moderate optimism ended 
on April 25 after a failed attempt to break above $156. The lack of bullish 
leveraged positions may be partly due to the 43% price gain SOL saw in the 
three weeks from April 8 to April 29.
A $200 target for SOL may seem ambitious, but the token was trading near $195 
in mid-February, even after decentralized application volumes had dropped by 
80% from their January peak. While Solana has faced criticism for its heavy 
reliance on memecoins, there is more to the network than just speculation on 
new tokens.
_Total value locked (TVL) on Solana Network, USD. Source: DefiLlama_
Solana ranks second in total value locked (TVL), with $9.5 billion in 
deposits, including liquid staking, collateralized loans, automated yield 
platforms, and synthetic derivatives. Several Solana decentralized 
applications are among the top fee earners, with Meteora collecting $19.1 
million in seven days, followed by Pump-fun with $18.6 million and Juto with 
$14.6 million.
## Solana network dominates volumes on decentralized exchanges
Since April 14, Ethereum&#8217;s average base layer transaction fee has been $0.65 
or less, yet Solana&#8217;s decentralized exchanges have seen nearly 90% higher 
trading volumes. Even when including the entire Ethereum layer-2 ecosystem, 
Solana led the past week with $21.6 billion in decentralized exchange 
activity.
_Decentralized exchange volumes, 7-day market share. Source: DefiLlama_
Positive highlights from the Solana network include an 87% weekly increase in 
Raydium&#8217;s volumes and a 58% rise in Meteora activity. So, even if demand for 
bullish leveraged positions stays flat, SOL&#8217;s price could eventually reflect 
the improved onchain metrics.
_**Related:**__**More than 70 US crypto ETFs await SEC decision this year**_
From a trading perspective, SOL could also benefit from the possible approval 
of a spot Solana ETF in the United States. Analysts believe the final deadline 
for the US Securities and Exchange Commission&#8217;s decision is Oct. 10, with a 
90% chance of approval. Still, SOL might rally above $200 before this event, 
as the network is well-positioned to attract new retail investors.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

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

In a recent update on X, analyst GemXBT highlighted that Solana (SOL) is 
moving within a consolidation phase, with the price hovering near the $147 
level. The pattern indicates that SOL is coiling up, potentially preparing for 
a significant move once a breakout occurs. This period of sideways trading 
isn’t without significance. Historically, such consolidation phases can act as 
a prelude to sharp breakouts or breakdowns. Traders are now closely watching 
for volume spikes or candlestick signals that could hint at the next major 
trend. Current Market Context: Why Solana Consolidation Matters GemXBT 
emphasized that key support lies below the current price, around the $146 
level, which has acted as a crucial buffer, preventing further declines and 
helping to maintain short-term stability. On the upside, immediate resistance 
is forming near $150, a level that has previously halted bullish advances. 
This resistance zone is now being closely monitored, as a breakout above it 
could trigger a stronger upward push. Related Reading: Solana (SOL) Holding 
Strong Above $150 — Breakout Zone In Play GemXBT further elaborated on the 
technical indicators that support SOL’s current consolidation outlook. He 
noted that the Relative Strength Index (RSI) continues to hover in the neutral 
zone, reflecting the prevailing market indecision. This midpoint reading 
indicates that neither bullish nor bearish momentum is dominant at the moment, 
which aligns with Solana’s sideways price movement. The lack of an overbought 
or oversold signal suggests that a breakout in either direction is still on 
the table, making the coming sessions particularly crucial for confirming the 
next trend. In addition, GemXBT highlighted that the Moving Average 
Convergence Divergence (MACD) has recently formed a minor bearish crossover, 
which could be an early warning sign of building downward pressure. Although 
the signal isn’t strong enough to confirm a trend reversal yet, it does raise 
concerns, especially if the $147 support level fails to hold. The Battle 
Between Bulls And Bears Based on GemXBT analysis, as Solana continues to 
consolidate between the $146 and $150 range, the market is at a crucial 
indecision point. After breaking out of the zone between $146 and $150, the 
next resistance to watch is the $164 level. If buyers are able to push the 
price past this barrier, it could pave the way for a rally toward the $211 
level and beyond, marking a significant shift in momentum and market 
sentiment. Related Reading: Solana Price Enters Consolidation Trend Above $130 
That Could End In A Breakout However, if bearish pressure intensifies and the 
$146 support gives way, it might trigger a sharper decline as sellers regain 
control. In that case, lower support areas such as $137 and $118 would come 
into play quickly. With both Solana bulls and bears eyeing these pivotal 
levels, the next decisive move is likely to set the tone for SOL’s short-term 
trend. Featured image from Adobe Stock, chart from Tradingview.com

Solana At A Crossroads: Consolidation Before The Next Major Surge?

Robert Kiyosaki sounds the alarm on global panic, asking if bitcoin dropped to 
$300, would you cry or celebrate—urging action before the financial crash 
hits. Robert Kiyosaki Sounds Alarm on Financial Panic and Looming Great 
Depression Robert Kiyosaki, author of the best-selling personal finance 
classic Rich Dad Poor Dad, has issued a fresh warning about […]

Robert Kiyosaki Warns Global Panic Is Spreading, the Crash Is Just Beginning

**Key takeaways:**
 * Traders remain cautious about ETH&#8217;s price action, but optimistic sentiment is beginning to return.
 * The May 7, Ethereum Pectra upgrade could boost investor sentiment, but ETH&#8217;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&#8217;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 classified alongside other altcoins in the 
&#8220;Digital Asset Stockpile&#8221; Executive Order on March 6. The Trump administration 
decided that only Bitcoin (BTC) was significant enough to be included in its 
own &#8220;Strategic Reserve.&#8221; In practical terms, altcoins already held by the 
government could be retained, but not newly acquired.
## Ether&#8217;s market cap falls below its top four rivals
For the first time ever, in April 2025, Ether&#8217;s market capitalization dropped 
below the combined value of its four largest competitors: Solana (SOL), BNB, 
Cardano (ADA), and Tron (TRX).
_Ether market cap vs. the sum of SOL, BNB, ADA, TRX. Source: TradingView / 
Cointelegraph_
After rebounding from lows near $1,400, Ether&#8217;s total market capitalization 
now stands at $217 billion, which is enough to surpass the combined value of 
its four main competitors. However, unless Ether consistently outperforms 
these rivals, sentiment is unlikely to improve. Some traders have high hopes 
for the upcoming &#8216;Pectra&#8217; network upgrade, but current derivatives data does 
not reflect a bullish outlook.
Ether&#8217;s decline has also coincided with weak demand for the Ethereum spot 
exchange-traded fund (ETF) in the United States. Institutional interest was 
lacking, despite ETH&#8217;s price rising from $2,400 to $4,000 between October and 
December 2024. In contrast, Bitcoin ETFs saw assets more than double, growing 
from $50 billion in October 2024 to $110 billion currently.
## Ethereum leads in TVL, but there&#8217;s a catch
Although Ethereum remains dominant in terms of total value locked (TVL), it 
has struggled to match Solana&#8217;s integrated user experience or Tron&#8217;s dominance 
in the stablecoin sector. Traders appear uninterested in Ethereum&#8217;s higher 
decentralization or improved security, especially for activities involving 
frequent deposits and withdrawals, where layer-2 solutions provide limited 
benefits.
The absence of demand for leveraged bullish ETH positions does not necessarily 
mean that professional traders expect further price declines. If whales and 
market makers were unwilling to offer downside protection, this would be 
reflected in the ETH options markets, signaling increased risk of a market 
downturn.
_ETH 30-day options skew (put-call) at Deribit. Source: Laevitas.ch_
Contrary to some expectations, put (sell) options are trading at levels 
similar to call (buy) options. Notably, professional traders are now more 
comfortable with downside risks than they were two weeks ago. While ETH 
derivatives are not signaling strong bullish sentiment, they also do not 
suggest that professional traders are worried about further declines at 
current price levels.
_**Related:**__**3 Ethereum charts flash signal last seen in 2017 when ETH 
price rallied 25,000%**_
There is a chance that the upcoming &#8216;Pectra&#8217; network upgrade could positively 
affect Ether&#8217;s price. Scheduled for May 7, this event might renew investor 
interest in the project by closing the gap with some of its competitors. 
Staking mechanisms designed for institutional investors could result in more 
ETH being locked in validator nodes, reducing the circulating supply. 
Historically, Ethereum upgrades have often been associated with brief spikes 
in ETH&#8217;s price.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.