KAS has emerged as the market’s top gainer in the past 24 hours. Its price has surged by 15% after hitting a two-year low during Tuesday’s trading session.

The rebound comes amid a broader resurgence in crypto market activity, with increased trading volumes and rising open interest signaling renewed investor confidence.

KAS Rally Backed by Rising Demand 

A corresponding uptick in trading volume has accompanied KAS’ double-digit gains. During the review period, the coin’s daily trading volume totaled $189 million, rising by over 95%.

When an asset’s trading volume rallies alongside its price, it indicates strong market participation and increased investor interest. Higher volume confirms that KAS’ price increase is backed by real demand, not speculative trades.

Also, the coin’s rising open interest reflects this. At press time, this is at $64 million, climbing 7% over the past day. 

Open interest refers to the total number of outstanding derivative contracts that have not been settled. As it climbs, it suggests increased market participation and fresh capital entering KAS positions. This signals growing confidence in the asset’s price trend and hints at a sustained uptrend if it continues. 

Moreover, the coin’s funding rate has flipped from negative to positive, highlighting the bullish shift in sentiment toward KAS. At press time, this stands at 0.0013%.

The funding rate is the periodic fee exchanged between long and short traders in perpetual futures contracts to keep the contract price aligned with the spot price. When its value is positive, it means long traders are paying short traders. This trend indicates that the market sentiment is bullish, and traders are willing to pay a premium to maintain their long positions.

Kaspa (KAS) Tests Critical Support at $0.065—Breakout or Breakdown Ahead?

KAS currently trades at $0.066, bouncing off the support formed at $0.065. It could continue its uptrend if this price zone is established as a strong support floor. In that case, KAS could exchange hands at $0.081 in the near term.

On the other hand, if selling pressure gains momentum, KAS could shed its recent gains and fall below the $0.065 support toward $0.049.

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According to data from PiScan, the Pi Network’s core team currently holds the majority of the total Pi Coin (PI) supply.

While such concentration may be necessary during the early stages of a network’s development, it also raises significant concerns about the project’s future decentralization.

Pi Coin Supply Concentration: Core Team’s Control Sparks Worries

The latest data reveals that the Pi Network’s core team controls approximately 62.8 billion Pi Coins across six wallets. Additionally, around 20 billion PI sits in roughly 10,000 unlisted wallets that belong to the team.

This brings the total supply held by these entities to about 82.8 billion PI. It represents a major chunk of the total maximum supply of 100 billion.

Further complicating the centralization issues, Pi Network is currently operating with only 43 nodes and three validators globally. In stark contrast, more established Layer 1 networks, such as Bitcoin (BTC), operate with over 21,000 nodes. Moreover, Ethereum (ETH) has over 6,600, and Solana (SOL) has around 4,800 nodes. 

The limited number of nodes and validators means that control of the network is concentrated in the hands of a few entities. Therefore, this makes the network much more centralized than its more established counterparts.

That’s not all. This lack of transparency adds another layer of uncertainty.

“Analyzing Pi Network’s source code and on-chain data is currently challenging due to its incomplete openness,” PiScan posted on X.

Meanwhile, Pi Network has also raised doubts regarding privacy and third-party involvement. In the 2025 privacy policy update, Pi Network revealed that it uses ChatGPT for its Know Your Customer (KYC) process. This feature was not mentioned in the previous version of the policy. 

“We use ChatGPT, as a trusted AI partner, to automate identity verification and enhance security measures. By using our KYC services, users consent to the use of ChatGPT, and other AI providers that may be later implemented, as part of our KYC process,” the document states.

The introduction of artificial intelligence (AI) into the KYC process brings a new layer of complexity to how user data is shared and processed.

These concerns add to a growing list of issues surrounding Pi Network. The community has previously highlighted technical difficulties during the mainnet migration. In addition, many users, frustrated by the long lockup period and limited immediate access to their tokens, have been trying to sell their accounts.

This dissatisfaction has resulted in a sharp decline in Pi Network’s popularity. According to Google Trends, the search interest for “Pi Network” has dropped significantly since the mainnet launch on February 20. 

On launch day, the search interest was at 100, indicating a peak of public attention and excitement surrounding the event. However, this figure has plummeted to just 12 at the time of this report, reflecting a steep decline in interest.