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XRP withdrawal has peaked on the popular Korean exchange Upbit, as on-chain analytics reports the vanishing of 5.5 billion Ripple tokens today. The prominent cryptocurrency gained bullish traction at the beginning of the year and surged to multi-month highs. However, the same is stuck in massive consolidations, losing its name. Now this massive 5.5 billion
The post 5.5 Billion XRP Vanishes from Upbit – Glitch or Secret Whale Move? appeared first on CoinGape.
Polymarket’s prediction market for the next Pope crossed $6.4 million in total bets today after a viral hoax falsely claimed the Catholic Church intended to excommunicate gamblers.
The fake announcement, circulated on X by an account with over 240,000 followers, mimicked an official Church statement.
The viral fake post condemned platforms like Polymarket for turning the sacred papal election into a “speculative exercise” and urged the faithful to treat the Conclave as a spiritual, not financial, matter.
However, the post was quickly debunked. It lacked the Church’s formal tone and formatting, did not capitalize key terms like “Conclave” or “Papal Election,” and unusually named Polymarket directly—something highly improbable from the Vatican.
Although the rumor was fabricated, it inadvertently revealed rare internal data from Polymarket. A screenshot embedded in the hoax suggested that total wagers on the papal successor stood at $2.5 million as of April 21. That figure has since more than doubled.
Polymarket opened the “Next Pope” market in February, well before Pope Francis’ death earlier this week, as speculation around succession grew.
“The Holy See deplores the reduction of the solemn conclave to a mere speculative exercise on platforms such as Polymarket and urges the faithful to uphold the dignity of the papal election as a matter of prayerful discernment rather than profit,” claimed a fake notice published by Yoxic, an X user with over 240,000 followers.
Since the Conclave convened, trading volume has surged. In just three days, bets on the outcome have climbed by nearly 160%
The Catholic Church has largely remained indifferent to the crypto sector, aside from isolated instances like a US archdiocese accepting Bitcoin donations. There’s no indication that Church leaders are paying attention to Polymarket, especially during a pivotal moment like the election of a new Pope.
Still, the sudden spike in trading highlights the intersection of global religion and decentralized speculation. As of today, the “Next Pope” market is one of the most active on Polymarket.
Polymarket’s surge in betting volume reflects a broader trend: crypto-native platforms are becoming arenas for real-time speculation on major political, cultural, and now religious developments.
While the Catholic Church is unlikely to weigh in on Web3 anytime soon, the spike in interest reveals how digital markets increasingly reflect—and amplify—the intensity of public discourse.
The post Fake Vatican Notice Fuels $6.4 Million Surge in Polymarket’s Next Pope Bets appeared first on BeInCrypto.
Over 50% of all cryptocurrencies ever launched since 2021 are now defunct. An even more alarming trend is emerging in 2025, where the percentage of failed tokens launched this year has reached the same level in just the first five months.
That percentage will naturally rise with more than half of the year left. Representatives from Binance and Dune Analytics told BeInCrypto that these failures are just another reminder of the need to launch viable projects, backed by solid tokenomics and a robust community.
A recent CoinGecko report revealed some jaw-dropping data. Of the approximately 7 million cryptocurrencies listed on GeckoTerminal since 2021, 3.7 million have subsequently died.
Several factors are considered when evaluating whether a coin has reached its end.
“A coin is classified as ‘dead’ when it loses all utility, liquidity, and community engagement. Key indicators include near-zero trading volume, abandoned development (no GitHub commits for 6+ months), and a price drop of 99%+ from its all-time high. Teams often vanish without warning—social media accounts go dormant, domains expire,” Alsie Liu, Content Manager at Dune Analytics, told BeInCrypto.
A significant 53% of listed cryptocurrencies have failed, with most collapses concentrated in 2024 and 2025. Notably, the over 1.82 million tokens already stopped trading in 2025 significantly outpaced the approximately 1.38 million failures recorded throughout 2024.
With seven months out of the year ahead, this trend of increasing failures in the current year will continue to grow.
Experts attribute the high failure rate of cryptocurrency projects, often termed “ghost coins,” to various factors, including broader macroeconomic conditions affecting the crypto market.
CoinGecko specifically suggested a potential link between economic concerns like tariffs and recession fears, noting a surge in meme coin launches after a certain election, with subsequent market volatility likely contributing to their decline.
However, not all responsibility can be placed on a greater economic downturn. Other aspects can contribute to these project failures.
“Common factors include inability to find product market fit leading to negligible interest from users or investors, or project teams that focus too much on short-term speculation with no long-term roadmap, and sometimes abandonment by developers (rug pulls). Broader issues like fraudulent intentions, weak user traction, novelty-driven hype, financial shortfalls, poor execution, strong competition, or security failures also contribute to project failure,” a Binance spokesperson told BeInCrypto.
The rapid rise in ghost tokens also came with the exponential launch of projects en masse, particularly since the start of 2024.
Last year was novel in its own right following the proliferation of meme coins. This new narrative emerged particularly after the launch of Pump.fun, a Solana platform that allows anyone to launch a token at a minimal cost.
According to CoinGecko data, 3 million new tokens were listed on CoinGecko in 2024 alone. Half of these projects died, but the other half survived. However, the situation in 2025 appears less stable.
While the number of new token launches remains high, the number of failures is nearly equivalent, with launches only marginally exceeding deaths by about a thousand.
“Ecosystems with low barriers to token creation see the highest number of ghost coins. In general, platforms that make it very easy and cheap to launch new tokens see the most abandoned coins. During this cycle, Solana’s meme coin surge (e.g., via token launchpads like Pump.fun) drove a flood of new tokens, many of which lost user traction and daily activity once initial hype faded,” Binance’s spokesperson explained.
The greater meme market has also taken a particular blow to its popularity.
As of March 5, the meme coin market capitalization had sharply decreased to $54 billion, marking a 56.8% drop from its peak of $125 billion on December 5, 2024. This downturn was accompanied by a significant decrease in trading activity, with volumes falling by 26.2% in the preceding month alone.
Certain token categories have been hit harder than others.
A 2024 BitKE report indicated that video and music were prominent categories with many failed cryptocurrency projects, reaching a 75% failure rate. This outsized percentage suggests that niche-focused crypto ventures often face challenges in achieving long-term viability.
“These niches face adoption and utility gaps. Music tokens struggle to compete with Spotify/YouTube, while ‘listen-to-earn’ models often lack demand. As more mainstream celebrities get into the space without knowing much about blockchain technology, tokens have become the new cash-grab business,” Liu explained.
Binance’s spokesperson noted that legal and technical hurdles, such as music licensing and the significant resources needed for video delivery, complicated the scaling of decentralized alternatives.
They further explained that many projects struggled to remain sustainable without substantial user adoption or strong network effects.
“This highlights that a good concept alone is not enough; crypto projects must also compete with entrenched Web2 platforms, navigate complex industry challenges, and deliver real-world utility to succeed. Without aligning with user behavior and market needs, even well-intentioned initiatives risk fading into ghost tokens,” Binance told BeInCrypto.
Despite the discouraging number of failed tokens, this situation offers important insights into building resilient projects that withstand unfavorable market conditions.
Prospective token creators can learn significant lessons from once-popular projects that ultimately failed. The negative outcomes experienced by these ventures, particularly in severe instances, can motivate the development of new projects responsibly and avoid similar pitfalls.
Binance referred to notorious ghost coin cases BitConnect and OneCoin.
“BitConnect, once a top-10 coin, collapsed in 2018 after being exposed as a Ponzi scheme promising ~1% daily returns. Investors lost nearly $2 billion. OneCoin, raising ~$4 billion, never had a real blockchain and relied on aggressive multi-level marketing before collapsing. Both cases highlight the dangers of projects built on hype, unrealistic promises, and lack of verifiable technology,” Binance’s spokesperson explained.
These examples also offer valuable lessons for individual investors trading tokens, regardless of whether the token is newly launched or more established.
While concerning, the rising number of ghost coins serves as a crucial reminder that discernible warning signs often precede the downfall of these cryptocurrencies.
These cases underline the necessity of rigorous research, validating underlying principles, and maintaining a cautious perspective, especially when investment gains appear unrealistically high. Prioritizing risk management and sustainable long-term factors should outweigh short-term speculative trading.
Binance particularly highlighted the importance of “Do Your Own Research” (DYOR) when evaluating crypto projects.
“Practically, this means reviewing the whitepaper, assessing whether the project solves a real problem, verifying the team’s credibility, examining tokenomics and supply distribution, and checking community and development activity,” Binance said, adding that “In essence, DYOR is about empowerment and protection. It helps investors identify solid projects and avoid scams or ghost tokens by spotting red flags early. Given how fast crypto markets move, personal due diligence remains essential for navigating the space safely and successfully.”
Ultimately, the prevalence of ghost tokens highlights a critical truth for crypto participants: thorough research and fundamental value are paramount for identifying lasting projects.
The post 50% of Crypto Coins Fail: Lessons from Ghost Tokens in 2025 appeared first on BeInCrypto.
Binance has recently expanded trade offerings for Hyperlane (HYPER), SIGN, Initia (INIT), KERNEL, and WalletConnect (WCT) tokens. Via an official press release on Wednesday, April 30, the crypto exchange revealed that it is adding these tokens as new loanable assets on VIP Loan.
Meanwhile, traders and investors are left speculating whether the enhanced trade offering could impact the assets’ prices. At the time of reporting, 4 of these tokens witnessed a waning price action, whereas one extended intraday gains to nearly 30%.
As per an official Binance announcement dated April 30, the CEX has added HYPER, SIGN, INIT, KERNEL, and WCT as new loanable assets on VIP loan. This announcement has ignited an optimistic market sentiment for the tokens, given that the new offering could enhance the tokens’ utility.
The 5 cryptos mentioned above could witness a surge in demand with this new offering on one of the top crypto exchange globally. Further, even liquidity remains primed to improve, thereby driving more trading for the coins. The upshot? broader sentiments about future price movements remain somewhat optimistic amid a broader bullish market.
For more details on the update, users can move on to the official Binance announcement.
However, despite the new offering by the CEX that boosted the market sentiment and exposure of these tokens, 4 out of 5 have witnessed a price fall. CoinMarketCap’s data signaled that KERNEL price dipped 5% intraday despite the enhanced exposure, closing at $0.1757. Further, the weekly chart for the token also illustrated a 10% crash, undermined by the broader market’s recent gains.
Similarly, HYPER price erased nearly 3% intraday and lost 27% over the week to reach $0.1963. WCT price also fell roughly 2% over the day and 4% over the week, reaching $0.3942. Even SIGN price fell 18% to $0.1016 intraday despite the abovementioned offering and numerous other token offerings from Binance. However, this crypto pumped nearly 50% over the week, reflecting optimism in light of listings on major CEXs.
Besides, INIT price has pumped by a remarkable 28% over the day and is currently sitting at $0.8482, undermining the other 4 crypto.
The post Binance Expands Support For HYPER, SIGN, & These 3 Crypto appeared first on CoinGape.