Fragmentation and complicated user experience remain two of the most significant obstacles to cryptocurrency’s mainstream adoption, according to a new industry report. Most users now use at least two wallets to manage their cryptocurrency investments.

The lack of interoperability across blockchains means users need to create multiple wallets to interact with different networks, with users having at least two wallets rising by 16% over the past year. According to a research report published by onchain user experience platform Reown and crypto intelligence firm Nansen, 62% of crypto users reported using at least two wallets over the past three months, up from 45% in 2024.

More than 18% of respondents said security was their top concern related to wallet use, while 10.6% cited poor user experience as the biggest issue.

Wallet usage over the past 3 months. Source: Nansen, Reown

Related: Bitcoin volatility lowest in 563 days, Hayes predicts $1M BTC by 2028

AI integration may be next “breakthrough” for crypto wallets

“We’re at a pivotal moment in the evolution of wallet UX,” according to Eowyn Chen, the CEO at Trust Wallet. “The next wave of users, especially those coming from traditional Web2 or emerging markets, are bringing new expectations that challenge how we design tools and interfaces.”

Chen said wallets are shifting from asset storage tools to becoming the primary gateway to Web3 services, including digital identity, financial products, governance and gaming.

“That’s why we see wallets evolving into intelligent, personal companions — tools that not only hold your assets, but understand your behaviour, preferences, and needs,” she said.

Chen added that integrating artificial intelligence agents could help users navigate Web3 as easily as they shop online, while also reducing risks from scams such as phishing attacks. These scams typically involve tricking victims into sending assets to fake wallet addresses.

The need for more robust wallets became more apparent after an unknown attacker stole $330 million worth of Bitcoin (BTC) in a social engineering scam from an elderly US citizen, Cointelegraph reported on April 28.

Related: Crypto hackers hit DeFi for $92M in April as attacks double from March

Mobile wallets dominate, hardware wallet usage on the rise

Out of the 1,000 surveyed participants, 51% of users preferred using a mobile wallet, down from 54.8% in 2024.

Mobile vs hardware wallet usage. Source: Nansen, Reown

Only 10% of the respondents preferred using a hardware wallet, up from just 7% a year ago, signaling that hardware wallets are slowly gaining traction among more advanced crypto users. However, only 3% of new investors reported using a hardware wallet.

Social wallets, which are connected to a user’s email or other social account and require no seed phrase, have “transformed onboarding,” and are at the “forefront of UX innovation, quickly adopting technologies like passkey signers and gas abstraction,” according to Derek Rein, chief technical officer at Reown. He added:

“Crucially, they prioritize simple, easy design, users shouldn’t need to understand gas tokens or chain switching just to transact.”Sentiment around social wallets. Source: Nansen, Reown 

However, users are still hesitant, with 39% of surveyed respondents saying that improved security and trust would help them adopt social wallets.

Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Tesla CEO Elon Musk has lashed out at The Wall Street Journal (WSJ), calling the publication’s latest report “an EXTREMELY BAD BREACH OF ETHICS,” after it claimed the Tesla board was actively seeking his replacement as CEO.

The report, published on April 30, alleged that the board had approached recruitment firms due to concerns over Musk’s political activity and split focus across multiple ventures.

Musk took to X to denounce the article, stating that the WSJ deliberately published false information while knowingly excluding an “unequivocal denial” from Tesla’s board.

Tesla board chair Robyn Denholm also issued a strong rebuttal early Thursday morning, posting on Tesla’s official X account that the board had not contacted recruiters.

“This is absolutely false,” she said. “The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”

Musk and Tesla board dismissing WSJ report. Source: Elon Musk

Related: WSJ debacle fueled US lawmakers’ ill-informed crusade against crypto

Musk under scrutiny for role in DOGE

The WSJ’s report comes amid growing scrutiny of Musk’s political involvement, particularly his advisory role in US President Donald Trump’s Department of Government Efficiency (DOGE).

Critics argue that his involvement with the Trump administration has hurt Tesla’s brand, especially in international markets. Tesla’s first-quarter profit plunged 71%, and its market value has declined by over $800 billion since the start of the year.

The automaker’s Q1 results released show revenues hit $19.34 billion, missing Wall Street estimates by 7.85% and marking a 9.2% fall from the same period last year.

However, the firm held onto its Bitcoin during the first quarter of 2025. Tesla’s digital asset holdings dropped 11.61% in value from $1.076 billion to $951 million in Q1, alongside Bitcoin’s 11.56% price fall to $82,514 over the same time.

Musk, who also runs SpaceX, Neuralink, and the recently merged X and xAI, has agreed to shift more of his time back to Tesla in response to shareholder pressure. According to reports, he is now advising DOGE remotely and has scaled back his physical presence in Washington.

Related: Elon Musk’s sale of X to xAI just made fraud lawsuit ’a lot spicer’

Crypto executives lash out at WSJ

Musk’s backlash against the WSJ adds to a growing chorus of criticism from crypto executives who have recently accused the outlet of misleading coverage and bias against the digital asset industry.

On April 12, Binance’s former CEO Changpeng Zhao dismissed a WSJ report that claimed he has agreed to provide evidence against Tron founder Justin Sun as part of a plea deal with the United States Department of Justice (DOJ).

“WSJ is really TRYING here. They seem to have forgotten who went to prison and who didn’t,” Zhao wrote in an April 12 X post. “People who become gov witnesses don’t go to prison. They are protected. I heard someone paid WSJ employees to smear me.”

Soruce: CZ

In March 2023, Tether also rejected a WSJ report alleging it used fake documents and shell companies to maintain banking access, calling the claims “stale,” “inaccurate,” and “misleading.”

Magazine: Binance hits back at WSJ, Hong Kong crypto ETF’s take ‘$50B equivalent’: Asia Express

Key takeaways:

Strategy’s stock rose 32% in April, its biggest monthly gain since November.

Speculation is building that Strategy will announce a major capital raise during its Q1 earnings call on May 1 as it continues to grow its Bitcoin holdings.

Analysts expect a 1% year-on-year revenue bump to $116.6 million, following the firm’s $120.7 million revenues for Q4 2024.

Michael Saylor’s Strategy closed April with its highest monthly gain since November, ahead of the firm’s highly anticipated earnings call on May 1.

Strategy (MSTR), formerly known as MicroStrategy, closed April 30 trading at $380.11, a 32% increase from its closing price of $288 on March 31, according to Google Finance data.

Speculation mounts on “huge capital raise” 

It’s Strategy’s highest monthly gain in five months, following a 59% rise over November as the value of its vast Bitcoin (BTC) holdings swelled amid a price rally that saw BTC reach $100,000 for the first time on Dec. 5, which was kicked off by Donald Trump’s Nov. 5 election win.

Source: Mark Harvey

The recent surge in Strategy’s stock price comes as the firm prepares to announce its first-quarter 2025 results after the US markets close on May 1. Saylor will host a webinar to discuss the results shortly after, at 9 pm UTC.

According to Seeking Alpha, analysts expect Strategy to report revenue of $116.6 million, reflecting a 1% year-on-year increase. The analytics firm also said that Strategy has beaten revenue estimates 25% of the time over the past two years.

The estimate represents a 3.40% decline compared to the previous quarter. The firm reported $120.7 million in revenue in the fourth quarter of 2024, marking a 3% year-on-year fall that missed analyst estimates by about $2 million.

Strategy reported a net loss of $670.8 million in Q4 2024 as the firm stacked an additional 218,887 Bitcoin.

Apollo Sat’s founder Thomas Fahrer said in an April 30 X post, that “MSTR will announce a huge capital raise in their earnings call tomorrow. $100B is in play.”

Related: Strategy added 15,355 Bitcoin for $1.42B as the price surged above $90K

On March 10, Strategy announced that it had entered into a new sales agreement that would allow the firm to issue and sell shares of its 8% Series A perpetual strike preferred stock to raise funds for general corporate purposes, including potential Bitcoin acquisitions.

At the time of publication, Strategy is holding 553,555 Bitcoin, worth approximately $52.57 billion, according to Saylor Tracker data.

Meanwhile, Syz Capital partner Richard Byworth recently mulled over the idea that Strategy should take a more aggressive approach to buying Bitcoin by acquiring companies to use their cash holdings to fund purchases and do away with over-the-counter buys.

“Should Saylor buy Bitcoin really carelessly? As in, not try and buy it through OTC desks…and actually just buy it with the intention of massively ramping the price,” Byworth said.

Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 Gamer

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

OpenAI CEO Sam Altman’s crypto-tied digital identity project World, formerly Worldcoin, has made its US debut in six cities. 

The project, which aims to verify humans in the age of artificial intelligence, is initially coming to what it calls the “key innovation hubs” of Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco, according to an April 30 announcement.

World offers a crypto token, Worldcoin (WLD), to those who verify their identity with its spherical device called an Orb, which scans a user’s face and eyes.

The firm had previously skirted launching in the US due to regulatory concerns over offering a token, fears now seemingly allayed with the crypto-friendly Trump administration.

The data from World’s Orb scan can be used to make a World ID on the company’s platform that aims to verify that a user is human and can be used to verify that with other platforms, including Minecraft, Reddit, Telegram, Shopify and Discord.

The company has faced scrutiny from regulators and many jurisdictions have probed World over privacy concerns. Some countries, including Spain and Portugal, have suspended World’s activities over its data collection practices.

Source: World

In addition to World’s US rollout, the company said at an event in San Francisco on April 30 that it would partner with Visa for a “World Visa card” to launch later this year for those who have scanned their eyeballs, which allows for payments using WLD tokens and other cryptocurrencies. 

Matchmaking with verified ID

The online dating giant Match Group, which owns Tinder, Hinge, Match.com and Plenty of Fish, will also begin a pilot program testing out World ID for its apps.

The firm said that the project aims to provide dating app users with the means of verifying that the profiles they interact with represent real people seeking real connections.

Related: World competitor Billions Network launches non-biometric digital ID

World has established separate partnerships with prediction market startup Kalshi and decentralized lending platform Morpho. 

Altman co-founded the project in 2019, when it was known as Worldcoin, to create a global identity verification system using the blockchain to combat fraud and bots. It rebranded to World in 2024 and currently has 26 million users globally, with 12 million of them verified through Orb scans. 

WLD prices initially jumped around 15% following the announcement. However, those gains have since been lost, with the token down more than 5% over the past 24 hours, trading at just over $1 at the time of writing. 

WLD is down more than 90% from its March 2024 all-time high of $11.74, according to CoinGecko. 

Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

Crypto losses spiked by 1,163% over April, with the lion’s share of lost crypto coming from a single heist of an elderly US individual’s wallet, says blockchain security firm CertiK.

CertiK said in an April 30 X post that a total of $364 million was lost to exploits, hacks and scams in April, jumping from the $28.8 million recorded by CertiK in March. 

The firm added that white hat exploiters had returned around $18.2 million from exploits on the crypto protocols KiloEx, Loopscale and ZKsync, which brought down the month’s total.

The largest hack in April, and the fifth largest to date, involved an elderly US individual who lost 3,520 Bitcoin (BTC), valued at $330.7 million. The Bitcoin was stolen from their wallet after a hacker used advanced social engineering tactics to gain access on April 30.

Excluding that attack, April’s crypto losses were $34 million, a 21% jump from March.

CertiK said phishing scams, bolstered by the Bitcoin heist, were the main culprits for losses, while social engineering, access control hacks and price manipulation exploits rounded out the top four types of attacks that stole the most value.

Crypto losses in April spiked to $364 million, a 1,163% increase compared to last month. Source: CertiK

February accounts for the most significant number of crypto losses of the year so far, with $1.53 billion. Most of that was from the $1.4 billion Bybit hack by North Korea’s Lazarus Group, which also holds the crown for the largest crypto hack ever.

Hackers return some funds

Over $18 million was returned for the month. Decentralized exchange KiloEx suspended platform operations after suffering a $7.5 million exploit; however, on April 15, the exploiter returned all the stolen funds, only four days after the attack.

The ZKsync Association also recovered $5 million worth of stolen tokens from an April 15 security incident involving its airdrop distribution contract.

Related: Crypto hackers hit DeFi for $92M in April as attacks double from March

Meanwhile, DeFi protocol Loopscale recovered half of the funds stolen during a major exploit on April 26, when manipulating its RateX PT token pricing functions led to the theft of $5.7 million in USDC (USDC) and 1,200 Solana (SOL).

Losses to crypto scams, exploits and hacks were declining in the final days of 2024, with December registering the smallest amount stolen at $28.6 million, compared to $63.8 million in November and $115.8 million in October.

Magazine: DeFi’s billion-dollar secret: The insiders responsible for hacks

The first decentralized finance (DeFi) company to launch a user-friendly suite of products on Bitcoin will “win the entire market” of the blockchain’s 300 million users, one crypto founder says.

Alexei Zamyatin, the co-founder of the Bitcoin layer 2 Build on Bitcoin, told Cointelegraph at Token2049 in Dubai that “the advantage of Bitcoin DeFi is that the market is much bigger, you have a much bigger retail user base that you can tap into.”

“It’s not easy to convert it, but if you manage to win in Bitcoin DeFi, you win the entire market.”

Zamyatin said the 300 million Bitcoin users would mean DeFi services on the blockchain would “outgrow everything we’ve seen so far in Ethereum and Solana.” 

Build on Bitcoin is one of the firms looking to win market share, offering a hybrid layer 2 solution that combines Bitcoin’s security with Ethereum DeFi capabilities via BitVM, a platform that processes Turing-complete Bitcoin contracts.

Zamyatin argued that Bitcoin-native bridges are necessary for DeFi on Bitcoin as the blockchain’s security is strong, but it lacks the human talent, tools and network effects of Ethereum. 

Alexei Zamyatin speaking with Cointelegraph’s Ezra Reguerra at Token2049. Source: Cointelegraph

Zamyatin said Bitcoin (BTC) yield and stablecoin products are driving strong demand for Bitcoin-based DeFi.

“A lot of institutions that are buying Bitcoin now usually have to find yield on the assets they hold. So Bitcoin yield is becoming a very hot and highly sought-after thing.”

Demand for Bitcoin-backed stablecoins is also skyrocketing because Bitcoin is the “best collateral,” Zamyatin added.

What if we tokenized the Bitcoin ETF so institutions could get access to DeFi yields? pic.twitter.com/2HCpwbCZDS

— alexei (@alexeiZamyatin) April 10, 2025

Bitcoin staking has become the main DeFi use case outside of payments, which involves Bitcoin holders locking their coins in self-custodial vaults or extractable one-time signatures to earn staking rewards on proof-of-stake blockchains like Ethereum.

The Babylon Protocol is currently leading this market with $4.64 billion worth of value locked, representing nearly 80% of all value locked on Bitcoin, DefiLlama data shows.

Bitcoin’s DeFi TVL is still a fraction of the $54.6 billion worth of value locked on Ethereum.

Bridging solutions a controversial topic

Zamyatin acknowledged the numerous hacks on blockchain bridges, but argued most of those incidents resulted from teams failing to manage their private keys, rather than from smart contract vulnerabilities.

While competition in the retail market is wide open, Zamyatin noted that many institutions still hesitate to use bridges that allow users to move value between incompatible blockchains.

Related: Bitcoin NFTs, layer-2 and restaking hype ‘completely gone’

Zamyatin noted that efforts have been made to increase the number of bridge signers from five to 50 in some cases.

However, institutions have been reluctant to adopt these solutions because they often don’t know who’s signing the transactions.

For example, the Ren Protocol’s RenBTC operates via a decentralized network of nodes called Darknodes, which sign transactions to lock BTC and mint RenBTC to use on other chains. 

However, institutions continue to avoid these protocols due to the degree of anonymity involved and instead opt to use trusted custodians like BitGo and Coinbase Custody for such activities.

Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

Additional reporting by Ezra Reguerra.

North Carolina’s House of Representatives has passed a bill allowing the state’s treasurer to invest public funds in approved cryptocurrencies, which will now head to the Senate.

The House passed the Digital Assets Investment Act, or House Bill 92, on its third reading on April 30 by a vote of 71 to 44.

Republican House Speaker Destin Hall introduced the bill in February, which would allow the treasurer to allocate 5% of the state’s investments into designated digital assets.

The investments can only be made after obtaining an independent third-party assessment confirming that the crypto holdings are maintained with a secure custody solution and risk oversight and regulatory compliance standards are met. 

New amendments allow the treasurer to examine the feasibility of allowing members of retirement and deferred compensation plans to elect to invest in digital assets held as exchange-traded products (ETPs).

The House also passed a related bill, the State Investment Modernization Act, or HB 506, with little discussion on April 30, in a 110 to 3 vote.

The bill aims to create the North Carolina Investment Authority (NCIA) to take over investment management from the treasurer.

If passed into law, the authority to invest in digital assets would transfer from the treasurer to NICA, and approval would be required from its board of directors based on third-party assessments to make crypto investments.

Local news outlet NC Newsline reported that Treasurer Brad Briner supports both bills.

Crypto legislation race. Source: Bitcoin LawsArizona leads the crypto bill race

North Carolina is second to Arizona in the state-level race to approve legislation allowing local governments to invest in cryptocurrencies. 

Related: New Hampshire Bitcoin reserve bill heads to full Senate vote

On April 28, Arizona’s House approved two bills, SB 1025 and SB 1373, proposing different methods for the state to establish a crypto reserve.

Arizona is the only state whose House and Senate have passed crypto-related bills, which are both awaiting Governor Katie Hobbs’ decision.

Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

Key takeaways:

Galaxy Digital plans to begin trading on the Nasdaq on May 16, pending shareholder and Nasdaq approval.

Nasdaq-listed crypto firms posted strong gains in April after a period of macroeconomic uncertainty.

Galaxy CEO Mike Novogratz says the listing will broaden the company’s investor base and US presence.

The Toronto Stock Exchange (TSX) listed crypto investment firm Galaxy Digital is set to move to the US-based Nasdaq on May 16, pending stakeholder approval at its upcoming shareholders meeting.

Galaxy’s planned move comes as several Nasdaq-listed crypto firms saw substantial gains in April, following a turbulent few months of macroeconomic uncertainty.

Galaxy founder and CEO Mike Novogratz said on April 30 that the listing would be a milestone “that would position us to advance our vision of building a gateway for investors to safely and efficiently access every corner of the digital asset and artificial intelligence ecosystems.”

Nasdaq listing will widen Galaxy’s investor base

A special Galaxy shareholders’ meeting is scheduled for May 9 to seek final approval for the move, with Nasdaq also needing to offer its approval before listing the crypto firm.

The company plans to use the ticker symbol GLXY on the Nasdaq, and if it goes ahead with the listing, will enter a transition period during which it will continue to trade on the TSX, on which it first listed in July 2020.

Galaxy is down 12.28% on the TSX so far this year amid a broader market downturn, according to Google Finance data.

GLXY is down 12.28% since Jan. 1 on the Toronto Stock Exchange. Source: Google Finance

Meanwhile, the Nasdaq 100 is down 7.33% so far in 2025, according to TradingView data. However, it held steady in April, with some commentators downplaying the recent bearish sentiment.

Novogratz is widely known as a pro-crypto advocate and Bitcoin (BTC) bull. It was reported on April 17 that Galaxy Ventures Fund I LP is expected to raise around $175 million to $180 million by the end of June to build a portfolio of 30 crypto and blockchain startups.

Crypto entrepreneur Anthony Pompliano said in an April 30 X post that “the Nasdaq 100 ended April up more than 1%, and people are still talking about the Great Depression.” 

“Insane,” Pompliano added.

Related: Bitcoin ‘aging’ chart projects sixfold BTC price rally above $350K

Several crypto-related firms listed on the Nasdaq have posted gains over the past month, following broader market turbulence due to macroeconomic uncertainty stemming from Trump’s tariffs.

Crypto exchange Coinbase (COIN) is up 17.80%, Michael Saylor’s Strategy (MSTR) is up 31.86%, and Bitcoin mining firm CleanSpark (CLSK) is up 21.58%, according to Google Finance data.

Magazine: TV hit Peaky Blinders to launch crypto game, FIFA Rivals on Polkadot: Web3 Gamer

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Nearly 30 crypto advocate groups led by the lobby group the Crypto Council for Innovation (CCI) have asked the Securities and Exchange Commission for clear regulatory guidance on crypto staking and staking services.

The CCI’s Proof of Stake Alliance (POSA) group argued in an April 30 letter to the agency’s Crypto Task Force lead, SEC Commissioner Hester Peirce, that staking is fundamentally a technical process, not an investment activity. 

“Staking isn’t niche — it’s the backbone of the decentralized internet,” the letter said. 

The letter responded to the SEC’s call for public input on whether staking and liquid staking, where crypto users lock up their tokens to earn more, should be regulated under federal securities laws.

The coalition called for the SEC to support responsible inclusion of staking features in exchange-traded products (ETPs), and “avoid overly prescriptive rules that could freeze market structures and stifle innovation in the staking space.”

The group argued that staking fails to meet the securities-defining Howey test definition of an “investment contract” as stakers retain ownership of their assets.

Source: Crypto Council for Innovation

They added that blockchain protocols, not a staking provider’s efforts, determine rewards, and providers don’t deliver profits through managerial decisions like a company does. 

The letter requested that the SEC Issue principles-based guidance similar to recent SEC staff statements on proof-of-work mining.

“In the past 4 months, we’ve seen more movement and constructive dialogue with the SEC than in the past 4 years,” the group said. “Now, the industry is stepping up with concrete principles to include in guidance — a reflection of this new collaborative approach.”

Related: Ethereum ETF staking will have little impact without multimonth rally: Analyst

The group argued that the existing securities disclosure regime is ill-suited for staking services, which are fundamentally technical rather than financial in nature. 

Big names in support of staking clarity 

The Proof of Stake Alliance includes several high-profile crypto organizations and companies, including the venture capital firm Andreessen Horowitz (a16z), blockchain software firm Consensys, and the crypto exchange Kraken, which restored staking services in the US earlier this year.

The SEC has yet to approve a crypto staking exchange-traded fund (ETF) and delayed the decision on allowing staking for Grayscale’s spot Ether ETF on April 14.

In April, Bloomberg ETF analyst James Seyffart predicted that an Ether ETF that includes staking could come as soon as May.

Magazine: ZK-proofs unlock trillions in Bitcoin for DeFi — BitcoinOS and Starknet

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 curve.

There are more crypto tokens than ever, but many are failing to survive in the long term. Source: CoinGecko

Lee linked the recent token die-off to “broader market turbulence” after Donald Trump’s inauguration in January, which saw Bitcoin (BTC) hit a peak high but was followed by a sharp downturn in the crypto market.

More crypto tokens used to survive 

Last year saw the second-highest number of token failures at 1.3 million, and in comparison, Lee said that the three previous years had a much lower attrition rate.

Lee attributed the ballooning number of tokens and their failures to the token creation tool Pump.fun, “which simplified the process of creating tokens, leading to a flood of memecoins and low-effort projects entering the market.”

Pump.fun went online in January 2024. CoinGecko’s report shows that last year had the largest number of new crypto tokens with over 3 million launched, compared to 2023, which saw just over 835,000.

“Before the launch of Pump.fun in 2024, cryptocurrency failures numbered in the low six digits. Project failures between 2021 and 2023 made up just 12.6% of all cryptocurrency failures over the past five years,” Lee said.

Prior to 2024, crypto token failure rates were relatively low. Source: CoinGecko 

Pump.fun’s graduation rate, where token trading moves off the site, has never been particularly high, with roughly 98% of tokens failing. 

The platform’s best-performing week so far was in November 2024, when 1.67% of memecoins moved on to the open market.

Related: AI tokens, memecoins dominate crypto narratives in Q1 2025: CoinGecko

CoinGecko founder Bobby Ong said in a March 6 report that memecoin investor interest appears to have cooled after a series of bad launches, noting the fallout from the Libra (LIBRA) token launch.

Pump.fun had a weekly trading volume high after the launch of Trump’s memecoin on Jan. 18, but both crypto and stock markets were hit with extreme volatility starting in March following Trump’s threats of sweeping tariffs.

Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge