Altcoin
Pi Coin Hits CoinMarketCap’s Top 11 Despite No Binance Listing
Pi Network’s PI Coin has made a notable entry into CoinMarketCap’s top ranks. This milestone highlights Pi’s increasing recognition in crypto, particularly as an altcoin made in the US.
Despite lacking a traditional exchange listing, the network continues to expand, demonstrating significant user adoption and circulation growth.
Analyzing Pi Coin’s Growth and Circulating Supply Increase
Data shows Pi Network’s PI token ranks 11th on CoinMarketCap, with a market capitalization exceeding $12 billion as of this writing. Nevertheless, it remains absent on CoinGecko as of this publication.
Further, data on Pi Network’s blockchain explorer shows the circulating supply of PI tokens has grown by 9.5% since its mainnet launch on February 20.
Initially, at 6.3 billion, the circulating supply now stands at 6.9 billion, reflecting increased activity within the ecosystem. This rise suggests greater engagement among Pi Network users as more coins enter circulation.
Further reinforcing its popularity, Pi Network has recorded over 113.2 million downloads on the Google Play Store alone. The rapid adoption reflects the project’s widespread interest, particularly among those drawn to its mobile-based crypto-mining model.
“Pi Network has been downloaded over 113.2 million times on Google Play Store alone,” the platforms update page on X highlighted.
The app’s ease of use and low barrier to entry are likely drivers of this exponential growth. Beyond that, another major selling point for Pi Network’s PI Coin is its growing adoption as a medium of exchange. BeInCrypto reported that several merchants and platforms have started accepting PI Coin for payments, a crucial step in driving real-world utility.
While mainstream adoption remains a work in progress, these developments indicate growing confidence in Pi’s transactional capabilities.
Despite its impressive market capitalization, PI Coin’s valuation remains a debate among analysts. BeInCrypto recently explained different hypotheses, including technology valuation and the Global Consensus Value (GCV) as possible value determinants.
While Pi Network continues to gain traction, it has also faced legal warnings in several jurisdictions. Regulatory bodies in countries like Vietnam and China have expressed concerns over the project’s structure, citing potential risks for investors.
Another major factor weighing Pi Coin’s price is the delay in securing a Binance listing despite 86% voter support. The anticipation surrounding a potential Binance listing had fueled speculation and price surges. The delay has led to frustration among investors, contributing to a decline in price momentum.
However, the Binance exchange has not entirely ruled out a potential listing for Pi coin.
“The project’s launch is still undergoing evaluation, and the decision will be based on our official review processes and standards,” Binance stated.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
US President Donald Trump’s decision to adopt Bitcoin, XRP, Solana (SOL), and Cardano (ADA) has sparked widespread optimism. However, the community remains ambiguous on the potential composition and management of the US crypto reserve. Farcaster co-founder Dan Romero’s recent predictions offer a glimpse into the utilization of crypto reserves and the potential roles of XRP and ADA.
US Crypto Reserve Management: Key Insights
Amid escalating ambiguity regarding the United States’ cryptocurrency reserve, Dan Romero, co-founder of Farcaster, has offered predictions regarding the government’s prospective plans.
In a recent X post, the Farcaster founder stated that Donald Trump’s government would retain seized assets rather than making new crypto purchases. This suggests that the administration is unlikely to invest in cryptocurrencies, despite its ambitious reserve plans.
Unveiling the Future of US Crypto Reserve: Roles of Bitcoin, XRP & ADA
According to the Farcaster founder’s predictions, Bitcoin will dominate the US crypto reserves. Possibly, Bitcoin will comprise about 80% of the government’s crypto holdings. This may be because of Bitcoin’s market dominance, widespread adoption, and global acceptance.
Notably, Trump’s crypto reserve announcement sparked widespread enthusiasm, particularly regarding Bitcoin’s potential role in the reserve. For instance, Gemini co-founder Cameron Winklevoss stated, “Bitcoin is the only asset that meets the bar for a store of value reserve asset.”
Meanwhile, the Farcaster founder highlighted the possibility of the Trump government including XRP and ADA in the crypto reserves through in-kind tax payments or quasi-donations. This implies Ripple and Cardano’s possible ways of collaborating with the government.
Inclusion of XRP & ADA Met with Skepticism
Despite the optimism surrounding the government’s Bitcoin reserve strategy, the inclusion of XRP and ADA has been met with skepticism. Gemini co-founder Taylor Winklevoss shared his disagreement with Trump’s choice of XRP, Solana, and Cardano. He stated,
I have nothing against XRP, SOL, or ADA but I do not think they are suitable for a Strategic Reserve. Only one digital asset in the world right now meets the bar and that digital asset is bitcoin.
Similarly, economist Peter Schiff questioned the government’s decision to include XRP, SOL, and ADA in the US crypto reserve. Though he initially seemed to endorse the Bitcoin reserve, later he retracted his support, accusing BTC proponents of disseminating misinformation.
XRP Proponents Celebrate Trump’s US Crypto Reserve Strategy
Though a portion of the community is against the XRP reserve, proponents celebrate the move. “XRP is great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities. I think the president made the right decision,” stated Cardano founder Charles Hoskinson.
Ripple CEO Brad Garlinghouse hailed the development a major signal for the industry’s progress. In response to Trump’s announcement, Garlinghouse stated, “Happy to see that the President of the United States recognizes that we live in a multichain world.”
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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.
Shiba Inu News: SHIB marketing lead Lucie recently revealed why the crypto’s team is not making any major announcements amid the broader market crash. Notably, Lucie has reflected a gloomy outlook surrounding poor market conditions on X this Tuesday, deeming it to be the reason for no latest advancements. SHIB price also plummeted over 9% in tandem Lucie’s post, sparking investor discussions over future endeavours.
Shiba Inu News: Marketing Lead Deems Poor Market Condition As Reason For No Key Advancements
In an X post on March 4, Lucie stated, “The market crash isn’t the time to chase announcements, it’ll be dragged down by the bad market.” This statement aligns with why the SHIB community stood silent on any major developments amid the recent market turmoil.
Notably, the project’s lead developer, Shytoshi Kusama, also hasn’t made any key announcements on X amid the recent market crash since February. The last buzzworthy update revealed by the lead was in early February, the community’s partnership with the UAE Ministry of Energy and Infrastructure.
Lucie Says Build Connections Instead
Instead, the marketing lead believes that a market slump may be the best time to ‘focus on building connections.’ This statement in turn ignited speculations about whether the team is gearing up for another partnership, presenting as bullish Shiba Inu news.
Why Is The Crypto Market Crashing?
Meanwhile, the crypto market continues to face immense heat amid macroeconomic developments and liquidity setbacks. CoinGape reported that the crypto sector recorded over $1 billion in liquidations intraday amid Trump’s new tariffs saga.
Starting March 4, new U.S. import tariffs on Canada and Mexico have continued solidifying global trade war tensions. As a result, BTC & altcoins slump hard just after a prompt jump due to Trump’s previous crypto reserve announcement.
Shiba Inu Price Plunges 10%
SHIB price today crashed nearly 10% in sync with the broader market trend, reaching $0.00001281. The meme coin bottomed and peaked at $0.00001228 and $0.00001423 in the past 24 hours. Traders and investors remain apprehensive as they expect no major Shiba Inu news till the market recovers, as also hinted by Lucie.
Further, Coinglass data indicated a 22% decline in SHIB futures OI to $117.78 million. Also, the derivatives volume fell 6% to $156.66 million, underlining the waning market interest. In turn, crypto market watchers continue to monitor the token for further major price shifts.
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.
The first week of March has seen significant market volatility. Unexpected news from President Trump, including plans to include altcoins in US crypto reserves and new tax policies, has influenced capital flows. As a result, liquidation volume surged to $1 billion.
Liquidation maps for several altcoins indicate an imbalance. This could signal the potential for major liquidations.
The 7-day liquidation heatmap for XRP suggests that if the price drops below $2, total long liquidations could exceed $215 million.
Chart data indicates that traders are leaning more towards long positions on XRP rather than shorting it. As of now, XRP is trading around $2.33 after a 20% decline since March 3.
Whale Alert reported that on March 3, 500 million XRP was unlocked from escrow. This happened right after President Trump announced that XRP would be part of the US crypto reserve.
Additionally, on-chain investigator ZachXBT revealed that Ripple co-founder Chris Larsen still holds over 2.7 billion XRP (worth $7.18 billion). Addresses linked to him moved over $109 million worth of XRP to exchanges in January 2025.
These developments could raise concerns and potentially trigger a liquidation event.
The 7-day liquidation heatmap for Solana (SOL) indicates that long liquidations could surpass $437 million if SOL drops to $120. This would mark an additional 11% decline from its current price of $136.3.
On-chain tracking account Lookonchain recently reported that a wallet linked to FTX/Alameda, holding 3.03 million SOL (worth $431 million), has begun transferring SOL to Binance.
“Of the 3.03 million SOL ($431.3 million) unstaked by FTX/Alameda today, 24,799 SOL ($3.38 million) has been deposited to Binance,” Lookonchain reported.
Although the amount transferred to Binance is less than 0.1% of the total holdings, investors might speculate that more SOL will follow. This could create selling pressure and trigger further liquidations.
The 7-day liquidation heatmap for Cardano (ADA) suggests that short liquidations could exceed $50 million if ADA surpasses $0.90. This represents a 10% increase from its current price of $0.81.
While ADA’s liquidation volume is lower than XRP or SOL, it is the most volatile among the three. According to Kaiko’s latest report, ADA has the lowest market depth among the five altcoins included in the US crypto reserve.
Market depth measures liquidity, indicating the market’s ability to absorb large buy or sell orders without significant price fluctuations.
“Notably, ADA lags all other assets in the strategic reserve and could see the strongest price impact,” Kaiko reported.
Therefore, in the face of similar market shocks, ADA is likely to experience the highest volatility, increasing the risk of liquidation.
Liquidation maps continuously adjust to price movements. However, current data reflects a highly sensitive market, with unpredictable news increasing risks for short-term traders—especially those using high leverage.
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 Conditions, Privacy Policy, and Disclaimers have been updated.
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