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Here’s Why Pi Coin Is Falling

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Pi Network price slipped about 17% today, indicating a waning risk-bet appetite of the investors. Despite the buzz around the coin, the crypto has recorded significant losses lately, especially due to a lack of major announcements and updates regarding the token. Amid this, a Pi Coin enthusiast has revealed key reasons that might have triggered the recent selloff in the market.

Pi Network Price Slips 17%

Pi Network was one of the top laggards in the crypto market today, sparking concerns among traders. Pi Coin value was down more than 17% and exchanged hands at $1.16, while its one-day trading volume rose 54% to $551 million.

Notably, the latest loss comes as a huge Pi token unlock looms. For context, the unlock eventually increases the supply, causing pressure on the price. Besides, it has dampened the traders’ sentiment, resulting in the recent decline in the value.

Pi Coin Faces Major Selloff Amid Investor Concerns

Pi Coin’s recent price plunge has left many investors questioning the project’s long-term viability. Enthusiasts note that the drop directly correlates with declining public sentiment. One of the key triggers was Pi’s failure to secure a Binance listing, despite 86% of its community voting in favor.

This rejection has shaken investor confidence, further pressuring the token. Adding to the concerns, the Pi Core Team failed to deliver any groundbreaking updates on Pi Day, a crucial event for the community.

Many early miners, who have supported the project for years, are now openly criticizing the team for the lack of visible progress. With the project in development for six years, frustrations are mounting as expectations remain unfulfilled.

Lack of Development Roadmap Raises Red Flags

A major complaint among Pi Coin investors is the absence of a clear roadmap for the Open Mainnet launch. Unlike other crypto projects that provide transparent timelines, Pi Network has remained vague about its future developments. This uncertainty has led to growing skepticism, with some fearing that the project may never reach full decentralization.

In a recent social media post, Pi enthusiast Dr Altcoin pointed out that the crypto’s ranking has fallen to #13, with its price dropping below $1.30. He emphasized that the declining value reflects the community’s disappointment in the project’s progress. Without a roadmap, investors remain hesitant, leading to increased sell-offs.

Community Demands Transparency & Progress

The Pi Network community is calling for immediate action from the core team. Investors believe that for Pi Network price to regain momentum, the team must address the lack of trust by:

  • Releasing a clear Open Mainnet roadmap.
  • Launching the long-awaited 100 decentralized applications (DApps).
  • Disclosing key investors and partnerships.

According to Dr Altcoin, these steps are crucial in restoring faith in the project and preventing further price declines. Without transparency and real progress, Pi Coin risks losing more support. However, a recent Pi price analysis hints at a 3X rally if Binance lists the token on its platform.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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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Analyst Predicts XRP Price To Reach $20 With 18 XRP ETFs On The Horizon

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Crypto analyst Amonyx has predicted that the XRP price could reach as high as $20. The analyst alluded to the XRP ETFs, which could launch soon as the fundamentals that will spark such a parabolic rally for XRP.

XRP Price To Reach $20 With 18 ETFs On The Horizon

In an X post, Amonyx predicted that the XRP price could reach $20 while noting that eighteen XRP ETF filings have now been submitted to the US SEC. These include filings from asset managers such as Bitwise, Grayscale, 21Shares, Canary Capital, and WisdomTree, all of whom have filed to offer a Spot XRP ETF.

These XRP ETFs undoubtedly provide a bullish outlook for XRP, considering that these funds will drive institutional funds into the crypto’s ecosystem and ultimately spark a parabolic price surge, as Amonyx predicts.

A recent CoinGape market analysis also suggested that the Ripple price could rally to $20 if the US SEC approves the altcoin ETFs this year. The analysis indicated that approval of the ETFs could be a catalyst for XRP to break above the resistance levels at $5 and $10 as it rallies to this price target.

It is worth mentioning that crypto analyst Steph also recently predicted that XRP could reach $30. The analyst made this prediction based on historical patterns and technical indicators. He also revealed that the altcoin has broken above the neckline resistance, confirming a bullish double-bottom breakout.

Price Correction Is Over

In an X post, crypto analyst Dark Defender stated that the primary correction on the weekly, daily frame, and 4-hour structure is over for the XRP price. He warned that there would be more minor ups and downs but suggested that the worst was over. The analyst added that XRP has started Wave 1 with an aim of $5.85, which will mark a new all-time high (ATH) for the altcoin.

The analyst stated that the support levels are $2.30 and $2.22, while the major resistance levels are $3.39 and $5.85. He affirmed that the upcoming week would be fantastic, suggesting a price breakout could happen this week.

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Crypto analyst CasiTrades highlighted $2.70 and $3.05 as resistance levels to watch. She remarked that the XRP price would need to break above these targets for confirmation of the next wave up.

Meanwhile, although the analyst admitted that the altcoin is holding strong at the $2.25 support level, she warned that a break below could cause XRP to touch the lower support at $1.90 or even drop further to as low as $1.54.

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Despite this bullish outlook for XRP, legal expert Bill Morgan recently warned that the Ripple SEC case could still negatively impact the altcoin’s price. Without a settlement in place, the case could still create uncertainty, which would dampen investors’ confidence.

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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.





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Justin Sun Reveals Plan To Integrate TRX On Solana

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Barely days after disclosing that TRX will reach a new all-time high, Justin Sun is setting things in motion. The Tron founder has hinted at an incoming integration of TRX on Solana, sparking industry-wide speculation over the mode of deployment.

TRX Is Coming To Solana

In an X post, Justin Sun announced that TRX will be coming to Solana’s blockchain in the coming weeks. While the statement did not contain a timeline or clear details, TRX and Solana communities are lapping up the announcement with glee.

“TRX will be soon on Solana. Ready to buy and collaborate,” wrote Sun on X.

Pundits are predicting a cross-chain bridge to bring TRX to Solana, leaning on a custom solution or existing offerings. Another cross-section of analysts is tipping the use of a wrapped TRX into a SOL-native token as an alternative.

While other options are in play, a cross-chain bridge is considered the most viable option for Justin Sun. The move follows Solana’s bridged assets from Ethereum, surpassing $314 million in the last 30 days.

For both communities, the integration is seen as a win given their individual capabilities. For starters, Solana’s performance can bring Tron closer to the goal of eliminating fees for stablecoin transactions while Solana will record a spike in activity from TRX’s deep user pool.

Both Ecosystems Are Sizzling With Activity

While the announcement did not trigger a rally for both SOL and TRX, both ecosystems are a beehive of activity. Justin Sun previously expressed confidence of TRX hitting an ATH in the future with active addresses reaching 3 million.

Solana, on the other hand, is reeling from the ripples of its fifth anniversary as it moves on from the failure of the SIMD-228 proposal. In more dour ecosystem news, Solana took down an advertisement over gender identity themes, sparking widespread criticisms.

Despite the outrage, SOL price is staging a recovery following CME Group’s launch of SOL futures while Tron continues to rack up network fee revenues.

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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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Solana Faces Criticism—Removes Ad Following Backlash On Gender Identity

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

There is a lot of talk going on about Solana since a video promoting its upcoming Accelerate conference in New York came out.

The ad, which aired on March 17, was quickly taken down because it made fun of gender identity problems, sparking widespread criticism.

Ad Criticized For Insensitivity

The video depicted a character named “America” who was undergoing therapy; the character said he was having thoughts about “innovation.”

The therapist recommended that the subject concentrate on pronouns or the development of new genders rather than pursing technological innovation, like crypto, during the session.

“America” answered by stating a wish to “invent technologies, not genders.”

The look of disappointment from some individuals. Image: Gemini Imagen.

Critics have labeled the commercial as “offensive” and “tone-deaf,” some of which call it disrespectful to transgender and gender minorities.

Corporate executives voiced their criticism. Former Solana Foundation director David McIntyre argued that while Adam Cochran of Cinneamhain Ventures called the advertising “justly absurd,” the platform should have given positive messaging top priority over mocking important societal issues.

Sean O’Connor, operating chief at Web3 infrastructure firm Blocknative, did not mince words and unloaded an explicit message on X:

Controversy Casts Doubt On Solana’s Values

The controversy has prompted inquiries regarding Solana’s ability to adhere to its stated principles. Just weeks prior, the Solana Foundation underscored the importance of diversity and inclusion at a conference in Singapore.

SOL market cap currently at $63 billion. Chart: TradingView.com

Its code of conduct explicitly safeguarded participants from harassment based on gender identity and expression. Currently, observers are debating whether the advertisement represents a strategic transition or an isolated gaffe by the organization.

Solana has not yet issued an official statement that elucidates the reason for the video’s removal. Critics contend that the decision to eliminate it was reactive rather than indicative of ethical reflection.

Industry Leaders Withdraw Their Support

Subsequently, certain initial supporters of the advertisement withdrew their endorsements. Initially, Tushar Jain, co-founder of Multicoin Capital, commended the video as “bold.” However, he later deleted his post and acknowledged that it alienated certain members of the community.

This incident underscores the increasing tensions within the crypto industry regarding political messaging and cultural commentary.

Featured image from Gemini Imagen, chart from TradingView

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