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CyberCapital’s Justin Bons Slams Pi Network as a Scam

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Pi Network is facing renewed scrutiny after Justin Bons, founder of CyberCapital, publicly branded the project a “scam.” 

Bons raised concerns about the project’s technology, business model, and tokenomics, arguing that they are deeply flawed and potentially harmful to investors.

Is Pi Network a Scam? Justin Bons Thinks So

In a series of posts on X (formerly Twitter), Bons pointed out several issues with the network. He suggested that contrary to its claims of decentralization, Pi Network remains heavily centralized

“PI is fully permissioned (centralized) and everything requires KYC, even simple transactions! PI is an investment scam; it is that bad,” he wrote.

Bons also criticized the five-year-delayed mainnet launch, calling the network’s promises of innovation and decentralization misleading. Notably, one of the major claims the executive made was that Pi Network’s core technology was copied from Stellar (XLM).  

Despite this, he argued that the absence of a Turing-complete virtual machine (VM) limits Pi Network’s potential for decentralized finance (DeFi), making it a “pipedream.” Moreover, he explained that this renders the network neither scalable nor programmable.

Bons also drew attention to the network’s referral program, which he likened to a Multi-Level Marketing (MLM) scheme. He argued that this system generates unnecessary costs for the network without providing real benefits to users.

Further compounding his concerns, Bons highlighted a Ponzi-like mechanism within Pi Network’s “mining” process. He revealed that the lockup period benefits insiders by inflating the token price, allowing early investors to exit with profits. 

Transparency, or the lack thereof, was another significant issue Bons flagged. He criticized the Pi network for not revealing insider token allocations despite enforcing Know Your Customer (KYC) procedures. He noted that insiders might control as much as 20% of the network’s supply, which contradicts the project’s fairness claims.

“PI made it into the top 20 is an embarrassment to our industry,” Bons concluded.

Previously, Bybit CEO Ben Zhou had shared similar concerns, calling PI a scam and describing it as “more dangerous than meme coins.”

Will Pi Coin (PI) be listed on Binance?

Meanwhile, the latest wave of criticism comes amid mounting discontent among pioneers toward Binance. On March 19, the exchange revealed its first batch of Vote to List projects. The list included meme coins associated with the former CEO’s dog and the Mubarak (MUBARAK) token, among others.

pi network binance listing
Binance Vote to List Tokens. Source: Binance

Nonetheless, despite Pi Coin (PI) receiving an 86% vote in favor, the community expressed frustration over Binance’s failure to list it.

“Stop acting like some third rate junk exchange and fulfill your promises before you start the next vote. I don’t know if CZ would have behaved like this if he was still at Binance, he wouldn’t be proud of your behavior,” a user wrote on X.

The community has even gone as far as giving Binance a 1-star rating on the Google Play Store. However, this might have worsened PI’s prospects rather than improving them.

“Do not try to pressure us into listing your coin by spreading FUD or negative comments about Binance, or you will be blacklisted,” Binance noted.

The dual blows of Bons’ criticism and Binance’s snub have coincided with a devastating market slump for PI. The token’s price plummeted below $1.0 today for the first time since late February.

pi network scam
Pi Coin (PI) Price Performance. Source: CoinGecko

Over the past day, PI has declined by 20.1%, with weekly losses extending to 48.7%. At press time, Pi Coin was trading at $0.91. Its ranking has also taken a hit, sliding to 27th place on CoinGecko, a significant drop from its earlier position.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top 3 Bullish AI Coins From This Week

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RSS3, JAM, and ALI are the top-performing AI coins of the third week of March 2025. RSS3 and JAM have both surged 78% in the past seven days, while ALI is up 48%.

Combined, they stand out for their strong price action and growing market caps. Here’s a breakdown of why these AI coins are making headlines this week.

RSS3 has surged over 78% in the past week, pushing its market cap to $51 million.

The strong rally has made it one of the top performers among AI coins, despite the general correction in that sector.

RSS3 Price Analysis.
RSS3 Price Analysis. Source: TradingView.

RSS3 is a decentralized network that indexes and structures open information. Inspired by the original RSS, it supports the Open Information Initiative, aiming to power the Open Web and open artificial intelligence.

If momentum continues, RSS3 could retest resistance at $0.106, possibly reaching $0.11 for the first time since January 17. If momentum fades, support sits at $0.054, with further downside risk to $0.039.

JAM

JAM is one of the hottest AI coins on the Base network. It has soared 78% over the past week and reached a market cap of $18 million.

JAM Price Chart.
JAM Price Chart. Source: Dexscreener.

JAM powers JamAI, a platform where users can create AI agents with unique personalities. It combines elements of an AI agents platform and a crypto launchpad, with roots as a creator community on Farcaster.

JAM has been setting fresh all-time highs, and if momentum holds, it could break above $0.0050 and aim for $0.0075. If momentum fades, key support levels sit at $0.0039 and $0.0026.

Artificial Liquid Intelligence (ALI)

Artificial Liquid Intelligence is driving several AI-focused crypto projects, including the AI Protocol, which builds a decentralized infrastructure for tokenized AI systems.

The company is also behind Alethea AI and its on-chain agentic AI characters, blending AI with blockchain to create interactive digital personas. Additionally, its ALI Agents Beta is set to launch soon, featuring staking, rewards, and upgraded AI functions.

ALI Price Analysis.
ALI Price Analysis. Source: TradingView.

ALI has gained over 48% in the past week, making it one of the best-performing crypto AI agents coins.

If momentum continues, ALI could push toward $0.0097, with a chance to break above $0.010. However, if a pullback occurs, support levels sit at $0.0064 and $0.0048.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why Current ‘Boredom Phase’ Could Trigger Epic Rally

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A crypto analyst has predicted that the XRP price could hit $27 soon. He describes the cryptocurrency’s current price action as a “ Bermuda Triangle or boredom phase” — a period where the market moves slowly or sideways, fuelling doubt and uncertainty among traders and investors before a price rally. 

XRP Price Boredom Phase To Trigger $27 Surge

Crypto analyst Egrag Crypto has warned that the XRP price is in a Bermuda Triangle, a boredom phase characterized by price stagnation and market uncertainty designed to shake out weak hands before a significant price move. According to his prediction, while traders and investors are growing impatient and questioning why XRP has not experienced any notable price increases, this phase is merely a set-up for a strong rally toward $27.

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Following a predicted downturn in mid-March, XRP has struggled to recover its bullish momentum. The cryptocurrency was one of the top-performing altcoins in this bull cycle, jumping from a $0.5 low to over $3 for the first time in seven years.

Due to the current market decline, Egrag Crypto revealed that many traders are now wondering why “XRP hasn’t mooned.” The analyst explained that this price decline was intentional, forcing investors to second-guess themselves and make emotional trading decisions. 

He also disclosed that the XRP market is now filled with ‘What ifs’, as Fear, Uncertainty, and Doubt (FUD) cloud traders’ minds. Moreover, concerns over potential dips to $1.60 or $1.30 could push investors to panic-sell or attempt risky trades. 

The analyst also revealed that the XRP market is currently controlled by sharks and larger players, also called Whales. These large holders tend to influence price movements, triggering stop-losses and shaking out weak hands before a major rally. 

Egrag Crypto warns that new investors and traders are especially vulnerable, as frustration and boredom can lead to making financial mistakes. He disclosed that the best strategy to implement during this current market phase is to do nothing. He suggested investors stay disciplined and patient, recognizing that boredom phases are normal in crypto market cycles. 

The analyst also urged investors to remain vigilant and hold their positions while accumulating at ideal prices rather than react impulsively to rapid changes in the market. 

XRP Breakout Point Hints At New ATH

In other analyses, market expert ‘Steph Is Crypto’ has announced that XRP is currently retesting breakout levels to trigger a surge to a fresh ATH. The analyst’s price chart shows a Falling Wedge pattern which has been broken above the resistance at the upper trend line. 

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After breaking out, XRP now retests this level to confirm a larger upward move. The large green arrow on the chart points to the cryptocurrency’s projected price target, suggesting a bullish continuation if the Falling Wedge breakout holds. 

XRP
Source: Steph  is Crypto on X

XRP’s upside potential is predicted to be $4 or higher if its bullish momentum is maintained. As of writing, the cryptocurrency is trading at $2.4, reflecting a 3.5% decline in the last 24 hours, according to CoinMarketCap. If its price rises to $4, it would represent a significant 66.7% increase from current levels.

XRP
XRP trading at $2.3 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Unsplash, chart from Tradingview.com



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Pi Network Might Fall Below $1 As Bearish Sentiment Rise

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Pi Network (PI) dropped by another 9% on Friday, adding to its recent bearish momentum. The decline comes after Justin Bons called the project a potential “scam,” fueling negative sentiment.

Technical indicators like BBTrend and RSI are also pointing to sustained downside pressure. As the price struggles below $1, traders are watching to see if PI can stabilize or if further losses are ahead.

Pi Network BBTrend Reached Its Lowest Levels Ever

Pi Network’s BBTrend is currently at -40.69, marking its lowest reading on record and staying negative for the past five days. T

The BBTrend, or Bollinger Band Trend, is an indicator that measures trend direction and strength based on price movement relative to Bollinger Bands.

Positive values typically indicate bullish momentum, while negative values suggest bearish momentum, with extreme values often signaling strong trends.

PI BBTrend.
PI BBTrend. Source: TradingView.

With Pi Network’s BBTrend sitting deeply in negative territory, it points to sustained bearish momentum.

This could suggest that sellers are firmly in control, and the asset may continue to face downward pressure unless a sharp reversal occurs.

A prolonged negative BBTrend like this often signals that the market is in a strong downtrend, and traders may remain cautious until signs of stabilization or a positive shift appear.

Pi Network RSI Is Recovering After Touching Oversold Levels

Pi Network’s RSI has rebounded to 36.15 after dropping as low as 17.5 just a few hours ago, showing a slight recovery in momentum.

The Relative Strength Index (RSI) is a momentum indicator that measures the speed and change of price movements. Values above 70 indicate overbought conditions, and values below 30 suggest an asset is oversold.

PI RSI.
PI RSI. Source: TradingView.

Pi Network’s RSI is now just above 36, moving out of the oversold zone but remaining in bearish territory.

This could imply that while some buying pressure has returned, the overall trend is still weak. Further upside will depend on whether the RSI continues to climb.

If the RSI fails to move higher, Pi Network may remain vulnerable to additional corrections.

Will PI Fall Below $0.90?

Pi Network has recently dropped below the $1 level for the first time since February 22 as bearish momentum builds. This decline comes as Justin Bons recently exposed Pi Network’s flaws, raising concerns and calling the project a potential “scam.”

If the correction deepens, PI price could test key support zones around $0.81 and possibly $0.62.

PI Price Analysis.
PI Price Analysis. Source: TradingView.

However, if Pi Network manages to regain strength despite the criticism, it could push toward resistance at $1.23.

A strong rebound could open the door for a move toward $1.79, but sentiment remains fragile following Bons’ claims and the recent price breakdown.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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