Altcoin
Will Pi Network Price Recover Above $2 Amid Rush for Pi Domains?
Pi Network price has come under strong selling pressure, dropping another 8% to $1.45 today. However, the recent buzz around the launch of Pi domains could change the trajectory of Pi Coin, pushing it back to above $2 once again.
Pi Network Launches Domain Bidding with Pi Coins
In the latest development, Pi Network announced the launch of .pi domains allowing users to exclusively bid in the native cryptocurrency, i.e. Pi Coin. The event already kicked off on Pi Day on March 14, and will continue further until Pi2Day, up to June 28, 2025.
The auction represents a significant step for the Pi ecosystem, as it creates a real-world utility case for the cryptocurrency. According to the announcement:
“The .pi Auction is fully run on Pi cryptocurrency—people need to use Pi to bid and purchase something that has real-world meaning and purpose.”
The organization also announced that it won’t accept any other digital assets except for Pi Coins. All proceeds from the auction will be reinvested into the Pi ecosystem, supporting developer programs, events, and initiatives that enhance Pi’s utility.
Heavy Rush for Amazon, Samsung and Tesla Pi Domains
Soon after the announcement within the Pi Network ecosystem, .pi domains linked to top firms such as Tesla, Samsung, and Amazon have been bid on a single wallet address. The total expenditure for these bids amounts to a substantial 60,000 Pi Coins (PI).
This activity highlights growing interest in Pi domains, showcasing the platform’s potential to create a competitive marketplace centered around exclusive naming rights within the Pi Network.
The auction structure for .pi domains includes a dynamic timeframe for individual domain bidding. While the overall auction has a fixed end date, specific domain auctions will be extended if new bids are placed within 24 hours of their scheduled conclusion.
Pi Coin Action Moving Ahead
Ahead of the Pi Day on March 14, traders had turned increasingly bearish about Pi Coin eroding nearly $1 billion market cap for the altcoin. As per the Coinglass data, the open interest has also dropped 6% in the last 24 hours.
Crypto market analysts are hopeful that the PI price will stage a bounce back from the $1.45 levels. On an immediate basis, Pi Coin first needs to reclaim $1.56 levels, which will open further gates for a rally to $2 and beyond.
It will be interesting to see whether market analysts turn bullish ahead of here. Some market analysts have also been predicting a PI price rally to $10 moving from here onwards.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst XRP Captain has provided an ultra bullish outlook for the XRP price. He suggested that the crypto could reach triple digits in this market cycle while asserting that such an ambitious price target is realistic.
Analyst Sets “Realistic” Target Of $100 For The XRP Price
In an X post, XRP Captain stated that $100 is a realistic target for the XRP price in this bull run. However, the analyst failed to mention when exactly XRP could reach this ambitious target or what could spark the parabolic rally to this price target.
This prediction comes just as crypto Egrag Crypto stated that XRP will reach double digits in this market cycle and then triple digits in the next cycle. Meanwhile, crypto analyst Dark Defender has provided an even more bullish outlook for the coin than XRP Captain.
Dark Defender recently predicted that the XRP price could rally to $333 if it mirrors its performance in the 2017 bull run. Analysts like Egrag Crypto have also alluded to the coin’s historical performance in 2017 as the reason it could enjoy massive gains in this bull run.
Insight Into The Crypto’s Current Price Action
In an X post, Dark Defender stated that the XRP price is forming Wave 1 on the daily chart. He remarked that he expects the crypto to move towards $2.42 first. The analyst affirmed that the real momentum will start after XRP stands above the Ichimoku clouds.
The analyst then highlighted $2.22 and $2.04 as the support levels to watch out for while the targets are $4.2932 and $5.8563. As CoinGape reported, crypto analyst Rose Premium also predicted that XRP could soon reach $5 as BlackRock gears up for ETF filing.
Egrag Crypto stated that XRP’s dominance is showing tremendous strength. He noted that the dominance is on the verge of closing above the 2021 high of 6%, surpassing Fib 0.6, which he considers a critical level and a super bullish sign once this close happens.
The analyst further remarked that if the dominance successfully closes above Fib 0.5, it could surge straight to Fib 0.888, which is his target of 15 to 20%. He added that this would align with the highs from 2015. It is worth mentioning that the Egrag Crypto previously asserted that XRP will flip Ethereum to become the second-largest crypto by market cap.
In another X post, the analyst stated that XRP’s Relative Strength Index (RSI) is steadily ticking upwards and that it is just a matter of time before market participants witness a celestial move.
Egrag Crypto also highlighted key RSI targets. He stated that 70 is for bullish confirmation, 77 is for bullish momentum, 85 is for bullish continuation, and 89 is for a parabolic rally for the XRP price.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
21Shares has announced that it is bringing down the curtain on its Bitcoin and Ethereum futures exchange-traded funds (ETFs). The issuer is eyeing March 28 as a tentative date for the liquidation of both ETFs amid a wave of new filings in the US.
21Shares Set To Liquidate Bitcoin and Ethereum ETFs
According to an announcement, crypto ETF issuer 21Shares has disclosed plans to ditch its Bitcoin and Ethereum futures ETFs. Per the announcement, the affected ETFs are the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF.
While the press release did not give clear reasons for the liquidations, it hinged its decision on a periodic review of its offerings. The statement cited a need to align existing product lineups with market dynamics and clients’ needs in a changing landscape.
However, pundits say the liquidations are a result of jarring ETF outflows in recent months.
Shareholders can sell their holdings up until March 27, a date touted as the last trading day for both ETFs. 21Shares plans to put the final nail in the coffin for both ETFs on March 28, liquidating all remaining assets.
“Shareholders who continue to hold shares of a Fund on the Fund’s Liquidation Date will receive a liquidating distribution with a value equal to their proportionate ownership interest in the Fund,” read the press release.
Increased ETF Activity In The Cryptoverse
Despite the wave of outflows, the ETF space is sizzling with frenetic activity. Buoyed by impressive returns, 21Shares slashed fees to 0.49% for its Bitcoin Ethereum Core ETPs.
Bitwise has rolled out its OWNB ETF to track companies holding Bitcoin on their balance sheets. Bitcoin ETF investors continue to put their faith in offerings in the face of price amid Rex Shares launching the first Bitcoin Corporate Bond Convertible ETF
Outside of Bitcoin, several issuers have filed for XRP, HBAR, DOGE, and AVAX ETFs with the US SEC. For Ethereum investors, CBOE has applied to the SEC to approve staking in Fidelity’s ETH ETF.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
21Shares has announced that it is bringing down the curtain on its Bitcoin and Ethereum futures exchange-traded funds (ETFs). The issuer is eyeing March 28 as a tentative date for the liquidation of both ETFs amid a wave of new filings in the US.
21Shares Set To Liquidate Bitcoin and Ethereum ETFs
According to an announcement, crypto ETF issuer 21Shares has disclosed plans to ditch its Bitcoin and Ethereum futures ETFs. Per the announcement, the affected ETFs are the ARK 21Shares Active Bitcoin Ethereum Strategy ETF and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF.
While the press release did not give clear reasons for the liquidations, it hinged its decision on a periodic review of its offerings. The statement cited a need to align existing product lineups with market dynamics and clients’ needs in a changing landscape.
However, pundits say the liquidations are a result of jarring ETF outflows in recent months.
Shareholders can sell their holdings up until March 27, a date touted as the last trading day for both ETFs. 21Shares plans to put the final nail in the coffin for both ETFs on March 28, liquidating all remaining assets.
“Shareholders who continue to hold shares of a Fund on the Fund’s Liquidation Date will receive a liquidating distribution with a value equal to their proportionate ownership interest in the Fund,” read the press release.
Increased ETF Activity In The Cryptoverse
Despite the wave of outflows, the ETF space is sizzling with frenetic activity. Buoyed by impressive returns, 21Shares slashed fees to 0.49% for its Bitcoin Ethereum Core ETPs.
Bitwise has rolled out its OWNB ETF to track companies holding Bitcoin on their balance sheets. Bitcoin ETF investors continue to put their faith in offerings in the face of price amid Rex Shares launching the first Bitcoin Corporate Bond Convertible ETF
Outside of Bitcoin, several issuers have filed for XRP, HBAR, DOGE, and AVAX ETFs with the US SEC. For Ethereum investors, CBOE has applied to the SEC to approve staking in Fidelity’s ETH ETF.
Aliyu Pokima
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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