Altcoin
Why Is Pi Coin Price Down 20% Today?
Pi Network’s native cryptocurrency Pi Coin has seen massive value erosion crashing another 20% today and slipping under $1.0. The initial euphoria around the mainnet launch seems to be fading fast as the PI cryptocurrency extends its weekly losses to more than 43%. As a result, the altcoin has dropped out of the top 20 crypto list, from the 11th spot last week.
Pi Network Euphoria Is Fading Quickly
The euphoria surrounding Pi Coin seems to be fading quickly amid the consistent delays in Binance listing plans, which has been a major hit on the market sentiment.
Another major common grievance among Pi Coin investors is the lack of a clear roadmap for the Open Mainnet launch. While other crypto projects have offered transparent timelines, Pi Network’s future plans are ambiguous. This has led to growing discussions about whether Pi is a scam. Clarifying it, Dr Altcoin, who’s been closely associated with the project said:
Clearly, there is a lack of communication and transparency from the Pi Core Team, which can lead some to misconstrue the Pi Network as a scam. However, I have been involved with the project for many years and have not found sufficient evidence to label it as such.
The analyst further stated that the Pi Core team needs to step up efforts in terms of effectively communicating with the Pi community and not leave gaps in the process.
Where Is Pi Coin Price Heading Next?
The Pi Coin price has been on a vertical fall over the past week, breaking under crucial support levels of $1.4, $1.2, and $1.0. This major correction comes ahead of the Pi token unlocking event this week.
While token unlock has been a major concern for investors, a large number of Pioneers from the Pi Network community have also been locking their PI holdings off lately.
For now, the next support for Pi Coin price stands at $0.82. Crypto market analyst Kripto Bilgi stated that the sentiment around this altcoin is very weak while predicting a fall to $0.30. Besides, a Pi price prediction also hints at a bearish phase ahead for the asset.
Currently Developments in the Ecosystem
The recent auctioning of the .pi domains and the introduction of the domains tab in the Pi Browser has been a significant step for the Pi Network. This development aligns with its vision for a decentralized, Web3-focused ecosystem.
These .pi domains can function as digital addresses for Pi-powered websites, services, or applications, accessible through the Pi Browser or other Web3-compatible platforms.
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.
BitMEX co-founder Arthur Hayes has once again stolen the spotlight with his recent comment on the social media platform. In a recent X post, Hayes said that Ethereum price will hit a new all-time high of $5,000 before Solana’s rally to $300. This bold prediction caught investors’ attention, especially after the Bitcoin price neared $89K in the last 24 hours.
Arthur Hayes Bets Big On Ethereum Price: Will ETH Outpace Solana?
The current volatile scenario in the broader crypto market has left many investors wondering about the futures of the top altcoins. However, amid this, Arthur Hayes has caught the investors’ eyes with his latest bold prediction, which has sparked a Solana Vs Ethereum price debate.
Meanwhile, in a recent X post, the BitMEX co-founder said that Ethereum would reach the $5,000 mark before Solana’s likely rally to $300. Notably, this comment has further fueled speculations as it contradicts the current trend recorded in the market. Besides, it also comes after Hayes recently predicted that BTC will hit $110K soon.
Here’s A Quick Overview of Solana & Ethereum Prices
Arthur Hayes’s bold prediction on Ethereum price comes amid a slump in Ether price today. During writing, ETH price was down over 1% and exchanged hands at $2,052, while its one-day volume jumped 25% to $13 billion. Notably, the crypto has touched a 24-hour high and low of $2,101 and $2,038. Besides, a recent ETH price prediction indicates that the crypto might rest near the $2,100 level for this month.
On the other hand, SOL price today was up 0.5% and exchanged hands at $139.4. Notably, a flurry of factors has helped in the recent SOL price gains over the past few days. However, a SOL price prediction hints that the crypto might touch a max price of about $144 by this month’s end.
What’s Next For ETH & SOL?
Despite the volatile scenario recorded in the broader crypto market, experts and recent market trends hint at a potential rally ahead for both assets. For context, renowned expert Ali Martinez noted that Ethereum whale activity has surged recently and they have acquired 470,000 ETH through the prior week.
Besides, another expert Michael van de Poppe also shared crucial insights on the future trajectory of Ethereum price. In a recent X post, the expert noted that if ETH breaks through the $2100-$2150 level, it could target $2,800 in the near term. Besides, he also predicted a likely “good Q2” for the asset.
Simultaneously, for SOL price, analyst CryptoCurb said that the crypto is on the verge of a breakout ahead. Echoing a similar sentiment, analyst Satoshi Flipper said that the short-term performance hints at a likely rally for SOL price.
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.
CRO the native cryptocurrency of Cronos chain surged a massive 35% in hours after the deal between Trump Media and Crypto.com on Monday. However, allegations that CRO is a scam have been rising with more than 70 billion tokens minted just a week before this partnership was sealed. While the CRO price has gained massive momentum, top players have warned retailed from making any fresh bets.
ZachXBT Exposes Cronos Over Misleading Practices
Blockchain sleuth ZachXBT has called out Crypto.com, the developer of Cronos Chain, accusing it of reversing the 2021 CRO token burn and misleading its community. ZachXBT alleged that Crypto.com recently reissued 70 billion CRO tokens that were previously burned “forever,” representing 70% of the total supply. In a message on the X platform, he wrote:
“Originally, the total CRO supply was 100 billion. In 2021, 70 billion of that supply was burned permanently. Everyone who invested since then believed the max supply was 30 billion. Now, just weeks ago, they reissued the 70 billion CRO.”
This sudden surge in supply for the Cronos native taken, ahead of Crypto.com striking a deal with Trump Media, has raised doubts among the community. “CRO is no different from a scam,” said ZachXBT.
ZachXBT also questioned Crypto.com’s ability to secure partnerships given the controversy. “Unsure why Truth chose your exchange over Coinbase, Kraken, or Gemini after this move,” he said, referencing a recent deal.
Trump Media and Crypto.com Partnership
Trump Media, US President Donald Trump’s firm entered a partnership with Crypto.com on Monday to launch a series of ETFs and ETP products for ‘Made in America’ digital assets. The products will feature digital assets, including Bitcoin (BTC) and Crypto.com Coin (CRO), alongside other securities. The ETFs and ETPs are slated for release later this year, pending regulatory approval.
Responding to the development, Crypto.Com CEO Kris Marszalek stated: “Proud to partner with Donald Trump’s Truth Social on a series of ETFs, including the world’s first ETF with CRO”.
Well, this announcement was enough to send CRP price higher by 35%, taking it past 10 cents, with 24-hour trading volumes skyrocketing 1300% to $278 million.
Will CRO Price See A Pump and Dump?
Although the Cronos native cryptocurrency CRO saw an immediate pump in its price, market analysts are asking investors to maintain caution amid the recent supply pump. Also, the development of a CRO ETF will still take time to materialize and the initial euphoria could fade in the coming days.
The CRO price prediction indicator suggests that the altcoin could flirt around 10 cents for most of 2025. However, there have been already calls for a rally to $1 amid this recent Trump partnership. Donald Trump’s crypto involvement has often led to sharp price action, with TRUMP meme coin seeing renewed interest recently.
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.
Despite Ethena price extending weekly gains to over 7% this Tuesday, Donald Trump’s World Liberty Financial has rattled the crypto market with its ENA selloff spree. On-chain statistics indicated that Trump’s World Liberty sold a whopping 184,000 tokens intraday, reverberating a bearish sentiment among crypto traders and investors globally.
In the wake of massive token unlocks and a dump by a market maker previously, the synthetic dollar protocol built on Ethereum already remains subject to volatility. Now, market watchers bearishly speculate over the asset’s future trajectory due to rising selling pressure.
Is Ethena Price Bracing For Heat Amid Trump’s World Liberty’s Selloff?
Usual market sentiments remain highly negative in light of heightened selling pressure on cryptocurrencies. The latest data from Arkham Intelligence indicated that World Liberty Financial sold 184,000 ENA for $69K over the past day. This selloff chronicle sparked concerns over Ethena price action’s long-term prospects, underlining a spike in selling pressure and WLFI’s loss of interest in the asset amid broader trends.
Notably, the Trump family-backed firm purchased 11 tokens earlier, including the one mentioned above, via its WLFI sale funds. Intriguingly, since most of these assets were soon shifted to Coinbase Prime, the market had an unclear view of selloff transactions.
However, a part of ENA holdings was transferred to the ‘0x76a’ custodial wallet address. This wallet address shifted 180,000 tokens to the address ‘0x77a.’ Subsequently, this address then sold the amount received for WBTC, per the data.
Overall, this transactional process gained significant traction, whilst market watchers speculate whether further token selloffs are also incoming. The synthetic dollar protocol on Ethereum remains bearishly eyed by investors, attributed to this saga.
Factors Fueling More Heat For Ethena Price
Simultaneously, a couple of other aspects propel an unsure investor sentiment about future price movements. CoinGape reported that the market maker Amber Group recently offloaded $10 million ENA to Binance. The rising exchange supply solidified bearish market sentiments over the asset’s future potential.
On the other hand, recent ENA token unlocks have also ushered in price volatility. While March saw over 2 billion coins unlocked and added to the crypto’s supply, April comes as another hurdle. Reportedly, over 200 million coins are set to unlock on April 2 and 5 collectively. In turn, traders and investors remain cautious over future Ethena price movements.
It’s noteworthy that World Liberty Financial’s massive selloff potentially aligns with the past and looming unlocks in an effort to mitigate losses.
What’s Next?
As of press time, ENA price witnessed a nearly 1% jump in value, reaching $0.3989. The crypto hit a low and a peak of $0.3883 and $0.4098 intraday. Despite the selloffs and massive token unlocks, the weekly chart showed a 7% upswing, underling a resilient movement. However, the monthly chart showed a 10% slump, adding to speculations.
Crypto market traders are currently uncertain about the asset’s performance ahead as broader trends indicate that volatility looms, whilst the price chart shows resilience. Besides, Ethena price prediction by CoinGape shows that bears remain dominant, as per the 3-month bias indicator. Nevertheless, renowned market trader Byzantine General took to X, projecting an optimistic outlook for the synthetic dollar protocol crypto.
The trader revealed that the crypto’s funding rate isn’t negative anymore, suggesting a bullish movement looms. Further, ENA got heavily shorted primarily due to its massive token unlocks, but the heat has now cooled down, per the analyst. Nevertheless, despite positive reaffirmation by renowned traders, it remains vital to gauge in broader aspects that underscore volatility is possible.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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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