Tether is set to launch a U.S.-based stablecoin by the end of this year, with CEO Paolo Ardoino strengthening relationships with Washington. This move comes as the political landscape shifts under Trump’s influence, paving the way for more crypto-friendly regulations. The launch of Tether’s stablecoin marks a significant step in expanding its offerings and solidifying its presence in the global crypto market.
On Wednesday, Robinhood Markets Inc. (NASDAQ: HOOD) reported strong numbers for the first quarter of 2025, surpassing Wall Street expectations. The trading platform attributed the growth primarily to crypto trading, as total revenue reached a record $927 million.
With earnings of $0.37 per share, Robinhood marked a 50% year-over-year increase in revenue.
Crypto Trading Fuels Robinhood’s Record Q1 Revenue
The company’s cryptocurrency trading revenue significantly contributed to this growth, which doubled to $252 million compared to the same period last year.
“This quarter, we significantly accelerated product innovation across our key initiatives, highlighted by the announcement of Robinhood Strategies, Banking, and Cortex. Customers have clearly responded, demonstrated by… robust year-over-year growth in trading across all asset classes,” said Vlad Tenev, Chair and CEO of Robinhood, in a statement.
The surge in crypto trading was fueled by heightened stock market volatility and the renewed interest in crypto with the new administration in Washington. But nothing could match the figures seen during the crypto rally during Trump’s reelection in November 2024. Despite the impressive year-over-year growth, Robinhood’s crypto revenue remained lower than the previous quarter’s $358 million.
In the last quarter of 2024, Robinhood’s revenue grew substantially to reach $1.01 billion, largely driven by a sharp increase in crypto revenue by 700% to reach a whopping $358 million. The marginal drop in the January to March quarter reflected some cooling of the crypto market.
Despite a strong reliance on revenue from crypto trading in recent quarters, Robinhood is planning to diversify its revenue sources. “It’s going to go up and down in terms of trading volumes. We’re diversifying the business outside of the crypto business, which will make us less reliant on crypto transaction volumes,” said Tenev during the earnings call with shareholders, reported Fortune.
Robinhood’s Transaction-based Revenues Grow by 77%
Robinhood also reported that the transaction-based revenues overall rose 77% to $583 million during the last quarter. Options trading revenue also increased by 56% to $240 million, and equities revenue climbed 44% to $56 million. Net interest revenue also saw a 14% uptick, reaching $290 million.
As the results were announced, HOOD’s stock prices rose by around 3% towards the end of the trading session from $47.5 to $49.1 on Wednesday, but remained marginally below the previous day’s close.
Robinhood’s user base expanded to 25.8 million customers last quarter, with monthly active users reaching 14.4 million. However, this figure was slightly below expectations and down from the previous quarter.
In a show of confidence, the company announced a $500 million increase to its share repurchase program, bringing the total authorization to $1.5 billion. Its international is also likely to jump with the acquisition of Luxembourg-based cryptocurrency exchange Bitstamp Ltd. on track to close in the middle of this year.
Robinhood’s above-expectations performance indicates a strong position in the market, particularly in the crypto trading space, despite the inherent volatility.
Cryptocurrency exchange titan Binance has once again captured substantial investor attention with its latest update on the SIGN token. On Tuesday, April 29, the CEX enhanced its offerings for the token’s futures listing in tandem with a 30% price rally. Now, traders and investors are left speculating if the token could sustain such a massive pump, as other renowned exchanges have also extended market support to the same.
Binance Issues Update On SIGN Token: Details
According to an official Binance release dated April 29, the CEX giant is increasing the funding rate settlement frequency of the USD-Margined SIGNUSDT Perpetual Contract from every four hours to one hour starting from April 29 at 10:00 UTC. Mentioned below are some of the other vital details that traders should know regarding this enhanced offering.
Source: Binance official site.
As per the announcement, this decision by the exchange comes primarily to protect users and prevent risks, given the highly unpredictable nature of digital assets. Further, the top crypto exchange also revealed that it may take additional protective measures in regard to the USD-Margined perpetual contract without further announcement, bringing changes to it.
The exchange added that it remains poised to make potential adjustments to the perp contract ahead, encompassing but not limited to changes in the maximum leverage value, position value, and other trade offerings. Users can move on to the official site for further details on the enhanced offerings.
SIGN Price Rallies Amid Support From Major CEXs
At the time of reporting, SIGN token price gained nearly 32% and was sitting at $0.1030. The crypto embarked upon a rally from a bottom of $0.06727 intraday. Notably, the bullish price trajectory comes riding the back of major exchange listings recently.
Not long ago, CoinGape Media reported that Binance revealed an airdrop event for SIGN and opened trading for the same. Moreover, the exchange also launched a SIGNUSDT futures listing recently.
On the other hand, even S. Korean exchange Upbit added the same token on its platform today, pegged to KRW, BTC, and USDT. Besides, even Asian crypto exchange OKX added the SIGNUSDT perpetual contract to its stockpile of offerings. Additionally, KuCoin revealed that the SIGN token went live for trading on the platform yesterday.
In response, broader market sentiments about the crypto’s future price action remain highly bullish in the wake of listings on top crypto exchanges. For context, listings on globally leading exchanges usually pave the way for increased investor interaction with assets, thereby bringing a surge of funds.
Ethereum (ETH) is up more than 10% over the last seven days as the market shows signs of renewed activity. However, key technical indicators reveal a mix of weakening trend strength and cautious optimism from buyers.
ETH is currently battling critical resistance zones that could define whether the rally continues or fades. With momentum still fragile, May could be a decisive month for Ethereum’s next major move.
Ethereum’s Trend Weakens Sharply as Bears Close In
Ethereum’s DMI chart shows its ADX is currently at 24.91, a sharp decline from 39 two days ago. The ADX, or Average Directional Index, measures the strength of a trend, whether up or down.
Generally, an ADX reading above 25 signals a strong trend, while values below 20 suggest the market is entering a period of weakness or range-bound trading.
The steep drop in ADX indicates that Ethereum’s recent momentum is quickly losing strength. Without renewed buying or selling pressure, ETH could remain stuck in a more volatile, sideways pattern over the short term.
Meanwhile, the directional indicators are showing a clear shift. The +DI, which tracks bullish pressure, has dropped to 22.71, falling from 31.71 three days ago and 27.3 yesterday.
In contrast, the -DI tracks bearish pressure has climbed to 17.68, up from just 7.16 three days ago and 15.64 yesterday. Yesterday, the gap between buyers and sellers nearly closed, with +DI at 20.91 and -DI at 20.1, suggesting sellers almost regained market control.
ETH RSI Climbs After Sharp Drop: Will the Recovery Hold?
Ethereum’s RSI is currently sitting at 56, up from 45.5 one day ago, after reaching 70.46 four days ago. The Relative Strength Index (RSI) is a momentum indicator that measures the speed and magnitude of price movements.
Typically, an RSI above 70 suggests an asset is overbought and may be due for a pullback, while an RSI below 30 indicates oversold conditions and the potential for a rebound.
Readings between 30 and 70 are considered neutral, with levels around 50 often signaling a market at a decision point. The sharp swing in Ethereum’s RSI over the past few days reflects the recent volatile sentiment around ETH.
With the RSI back up to 56, Ethereum has regained momentum after dipping into neutral-to-bearish territory. A reading above 50 leans slightly bullish, suggesting that buyers have started to reassert some control, though not with overwhelming strength.
However, if momentum stalls again and the RSI turns back down, it would suggest the recovery is losing steam and that Ethereum could fall back into a broader consolidation or even a correction phase.
Ethereum Battles Key Resistance as Breakout or Breakdown Looms
Ethereum price has made several attempts over the past few days to break above the resistance level at $1,828. If ETH manages to break and hold above this level decisively, it could open the door for a stronger move upward.
The next major target would be $1,954, and if bullish momentum remains strong, a further rally toward $2,104 could unfold. Ethereum could eventually test $2,320 in an even more aggressive uptrend, marking a significant bullish extension.
These levels will be key to watch as they could define the strength and sustainability of any breakout in the coming days.
On the downside, if Ethereum fails to hold its current levels and the trend reverses, the first critical support to watch lies at $1,749. A break below that could trigger a move lower toward $1,689.
Losing these levels would signal a much deeper correction, suggesting that the recent attempts at recovery were only temporary before a more prolonged bearish phase sets in.
