There has been a lot of buzz online this week about ProShares launching an XRP ETF on April 30. Some social media posts and reports claimed that the U.S. Securities and Exchange Commission (SEC) had approved it and that it would go live this week.
But that’s not true.
A spokesperson from ProShares cleared up the confusion. They said: “ProShares does not have any ETF launches scheduled for Wednesday, April 30. We have no further news to share at this time.”
So where did the rumor come from?
The misunderstanding seems to have started because people confused the “effective date” listed in a regulatory filing with an official launch date. When a fund’s registration becomes “effective,” it means it has cleared one step with the SEC, but that doesn’t guarantee a launch on that date.
In fact, the SEC could still object to the launch. A fund’s registration statement becoming effective is only one part of the process. It’s required before a launch, but it doesn’t confirm the exact timing or guarantee approval.
While the news isn’t true—yet—talk of an XRP futures ETF is still important. It shows that XRP is gaining attention from major financial players. And just like with Bitcoin and Ethereum, a futures ETF could be a step toward a full spot ETF in the future.
A new CoinGecko report shows that XRP liquidity is heavily concentrated on just three exchanges — Bitget, Binance, and Coinbase.
Together, these platforms control around 67% of all trading activity close to XRP’s market price. This means most buy and sell orders for XRP sit on just a few order books.
If any one of these exchanges faces issues or lowers support, XRP traders could face delays, slippage, or bigger spreads.
CoinGecko’s analysis looked at what it costs to trade XRP within a small price move of two cents, which equals about 1% of its price.
XRP Liquidity Across Different Centralized Exchanges. Source: CoinGecko
Within that range, XRP shows about $15 million in available orders across eight exchanges. Two-thirds of that sits with the top three.
Bitget Leads XRP Trading at Tight Price Bands
Bitget shows the most liquidity at very small price movements. That means XRP is easiest to trade there if you’re looking to move funds without big price changes.
However, Bitget’s liquidity drops off quickly as you move further from the market price.
By the time you reach the two-cent range, Binance andCoinbase have nearly caught up in volume. This reinforces how dependent XRP is on just a few platforms.
Other exchanges like OKX, Bybit, Kraken, and Crypto.com play a smaller role. Their XRP order books are much thinner compared to the leaders.
One surprising detail in the report is that XRP lags behind Solana (SOL) in both liquidity and trading volume — despite having a higher market cap.
Solana has around $20 million in trading depth within a $1 price range, which is stronger than XRP’s $15 million within two cents. SOL also saw nearly twice as much volume as XRP during the study period.
This gap raises questions about how much real trading interest there is in XRP. Higher market cap doesn’t always mean stronger market support.
In this case, SOL appears to have more consistent demand from active traders.
To sum it up, XRP’s trading activity is strong, but highly concentrated. Bitget, Binance, and Coinbase dominate its liquidity, leaving the asset vulnerable to exchange-level risks.
Polymarket, the world’s leading decentralized prediction platform, is close to completing a $200 million funding round that would push its valuation beyond $1 billion.
This milestone would place the platform into the prestigious “unicorn” club. Moreover, Polymarket has recently seen a rebound in trading volume and new user signups following the conclusion of the US election.
Polymarket Nears $200 Million Raise, Eyes Unicorn Status
According to Reuters, Polymarket is preparing to finalize a $200 million fundraising round led by billionaire Peter Thiel’s Founders Fund.
Data from Cryptorank shows that Polymarket raised $74 million between 2020 and 2024. Notable investors, including Ethereum co-founder Vitalik Buterin, have backed the platform’s future.
Founders Fund led a $45 million Series B round in May last year. The current round signals the fund’s continued commitment and long-term belief in Polymarket.
Polymarket’s Fundraising History From 2020 to 2024. Source: Cryptorank
The new capital is expected to help Polymarket expand its infrastructure, enhance product development, and address legal challenges, especially in the US, where the platform is currently banned due to gambling regulations.
This agreement makes Polymarket the official prediction market partner of X. The integration combines Polymarket’s forecast data with real-time analysis from Grok AI and posts on X to provide users with deeper insights.
The partnership strengthens Polymarket’s market position and grants it access to millions of users worldwide.
Monthly Trading Volume on Polymarket Recovers Above $1 Billion
According to Dune Analytics, May 2025 marked a strong comeback for Polymarket, with trading volume exceeding $1 billion. This follows a decline earlier in the year caused by post-election fatigue.
Polymarket’s Trading Volume And User Data. Source: Dune
The platform also recorded over 100,000 new accounts each month. It maintained an average daily trading volume of $40 million, with around 20,000 active traders.
This resurgence reflects growing community confidence in the potential of decentralized prediction markets. It comes at a time when both the crypto sector and the broader world are experiencing increasingly eventful and attention-grabbing developments.
Despite the growth, Polymarket continues to face significant regulatory challenges. Recently, the US CFTC issued a subpoena to Coinbase seeking information related to Polymarket. It is to be noted that Polymarket has been inaccessible to US residents since 2022. This followed a $1.4 million settlement with the CFTC for operating an unregistered derivatives trading platform.
Polymarket has also faced legal trouble in France for violating gambling laws related to prediction markets. Furthermore, some people believe that large investors can manipulate market prices, raising questions about the platform’s neutrality.
Most of the altcoins are trying hard to make a strong comeback after the latest pullback from their respective local highs. Meanwhile, the Dogecoin price continues to maintain a strong descending trend after the rejection from the local resistance zone close to $0.2. While Bitcoin & Ethereum prices are closely consolidating within a narrow range, aiming to trigger a rebound above the bearish range, DOGE price seems to be losing its grip over the rally. The token is about to erase the gains incurred in the past 30 days, which hints towards the resurgence of a fresh bearish trend.
This raises concerns about whether Dogecoin has a future. Will the cost of 1 Dogecoin reach $0.5 in 2025?
The DOGE price is maintaining a horizontal trade without displaying any strong possibility of a trend reversal. As a result, enough liquidity is accumulated on either side, which suggests the token has entered a decisive phase.
The DOGE price has triggered a rebound before reaching the liquidating zone around $0.164, where the liquidation leverage has surpassed $500 million. Therefore, to reclaim the higher levels, the price is required to liquidate the leverage within this range by plunging below the range. This could squeeze out all the shorts, enabling a significant rebound and a continued upswing. Still, the question remains: Will this help the DOGE price reach $0.2?
The short-term price action of DOGE suggests the price is experiencing tremendous upward pressure after failing to hold above the ascending trend line. The conversion line of the Ichimoku cloud is acting as a strong resistance, without displaying any chance of a bullish crossover. On the other hand, the Stochastic RSI faced a pullback after testing the average range, hinting at the growing dominance of the bears.
Therefore, the Dogecoin (DOGE) price is expected to test the local support at $0.162, which is below the liquidation level at $0.164. This move is expected to cause a short liquidation and trigger a strong upswing towards higher targets, probably at $0.18 initially and later at $0.2.
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Most of the altcoins are trying hard to make a strong comeback after the latest pullback from their respective local highs. Meanwhile, the Dogecoin price continues to maintain a strong descending trend after the rejection from the local resistance zone close to $0.2. While Bitcoin & Ethereum prices are closely consolidating within a narrow range, …
