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.
SOL price has surged today, soaring more than 7% as robust Solana Network inflows have fueled market confidence. Besides, it also comes amid a broader crypto market recovery, with Bitcoin and most of the altcoins recording significant gains.
Solana Network Inflows Fuel Market Optimism
A surge in liquidity inflows to the Solana network has sparked optimism among market participants, hinting at a potential SOL price rally ahead. Over the past 30 days, over $120 million has been bridged to Solana from other blockchains, with Ethereum and Arbitrum contributing $41.5 million and $37.3 million, respectively.
Notably, this robust influx of capital signals renewed confidence in the network, reversing recent challenges. Besides, the timing of these inflows coincides with a resurgence in the top Solana memecoin prices, with POPCAT, FARTCOIN, BONK, and WIF posting significant gains.
Although fee generation has slowed, with $46 million in March and $22 million in April so far, the Solana network’s renewed appeal could be a positive indicator for SOL price.
As market sentiment shifts in favor of Solana, investors are eagerly watching for a potential price rally. With increased liquidity and renewed interest, SOL may be poised for a significant price movement.
How’s SOL Price Performing?
Amid the robust Solana network inflow, Solana value today jumped over 6% and exchanged hands at $133.36 after touching a 24-hour high of $135.23. Notably, the price surge is accompanied by a 35% increase in trading volume to $4.59 billion and a 6% rise in Solana Futures Open Interest, indicating positive market sentiment.
Meanwhile, a recent Glassnode analysis showed that Solana’s URPD is going through a major shift in cost basis, forming a major supply cluster at $129.79 with over 32M Solana. This zone is likely to act as support during future drawdowns, reflecting high investor engagement. With $144 as potential resistance and $117 as the lower bound, $129 serves as a key pivot zone.
Considering the recent Solana network inflow and technical analysis, it appears that the SOL price might target the $150 level in the near term. If the support at $129 holds and the resistance at $144 is breached, a rally to $150 could be imminent. Besides, a Solana price prediction also showed that the crypto could reach the $150 level by this month.
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.
Recent crypto whale metrics surrounding DeFi tokens have garnered immense investor optimism, suggesting that price gains for some coins are imminent despite the ongoing market uncertainty. Whale data on Thursday, April 17, indicated that large-scale investors stacked over $20 million in AAVE and UNI. These accumulations have ignited a bullish market torrent, underscoring buying pressure on the assets despite the broader market slump.
Crypto Whales Stack $20M In DeFi Coins Igniting Optimism
According to the data from Spot On Chain, crypto whales are quietly accumulating DeFi tokens via OTC. As per the data, two fresh wallets recently scooped up a total of $20.11 million worth of the abovementioned tokens.
The wallet address “0x3bb..” bought $4.28 million worth of UNI from Cumberland. Further, the same wallet and the address “0x4f7..” collectively bagged $15.83 million worth of AAVE from the same OTC exchange. These massive accumulations have suggested that price gains lie ahead for the DeFi cryptos.
For context, usual market sentiments remain highly bullish in the wake of such whale accumulations, signaling market confidence and buying pressure on an asset. So, traders and investors anticipate price gains in these DeFi tokens shortly.
How Are The Coins Performing Today?
AAVE price was up by roughly 3.5% at the time of reporting, exchanging hands at $138.81. The DeFi token gained after hitting a bottom of $130.43 over the past day. Notably, this rising action potentially aligns with broader trends and the crypto whales’ significant buying.
Also, Coingape has reported that the token’s community proposed a major AAVE buyback plan and liquidity upgrade the previous month. This upgrade aims to uplift the coin’s market and price dynamics. The whale accumulation, in turn, falls in line with this development.
On the other hand, UNI price was up by roughly 2.5% and traded at $5.27. The DeFi crypto hit a low of $5.05 over the past day.
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.
While the XRP lawsuit is reaching its closing stages, there are a few loose ends that parties are racing to tie up. Digital assets lawyer James Farrell notes that Ripple Labs will pursue an indicative ruling to ease its future IPO proceedings. However, internal processes at the Securities and Exchange Commission (SEC) may see the loose ends become a knotty issue for Ripple Labs.
Ripple Is Chasing An SEC Settlement And An Indicative Ruling
According to crypto lawyer James Farrell, Ripple and the US SEC have to sidestep a raft of hurdles to reach the final resolution in the XRP lawsuit. Farrell revealed via an X post that Ripple Labs is pursuing a settlement with the SEC while having its sights on an indicative ruling from Judge Torres.
Parties are taking a breather from legal proceedings after the US Court of Appeals granted a joint motion to suspend appeals. As parties sheath their swords and head to the negotiating table, Farrell says Ripple is tipped to table a settlement offer.
Furthermore, Ripple is expected to ask the District Court to issue an indicative ruling, seeking for Judge Torres to modify her judgment. Per Farrell, Ripple wants a modification to allow it to carry out private sales of XRP ahead of a Ripple IPO launch date.
“Why do they want it? Because without it, the possibility of an IPO in the next 3+ years is basically zero,” said Farrell. “So while the cool kids are going public, Ripple practically cannot.”
A Complicated Administrative Process In The XRP Lawsuit
According to the legal expert, the process will involve Ripple submitting a settlement offer and a request for an indicative ruling. Farrell notes that Ripple’s legal team can submit both requests to the SEC jointly or separately.
He notes that the settlement is a low-hanging fruit for Ripple, but the indicative ruling may be a knotty issue for parties in the XRP lawsuit. If the SEC assents to the settlement, Ripple will still have to file a motion before Judge Torres, with the expert forecasting a six-month time frame.
After her decision, parties may head to the appellate court as the appeal is still subsisting, and file a voluntary dismissal. Farrell predicts the process at the appellate court to last for one month.
If Judge Torres denies the motion to modify the injunction, Farrell notes that the parties will head back to the Appeal Court with the argument on appeal potentially extending to January 2027.
Following the pause in legal proceedings in the XRP lawsuit, an analysis tips $2 as the XRP price floor for a parabolic rally.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
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.
How Rising Solana Network Inflows Could Drive SOL Price to $150?
XRP’s $2.00 Pivot Point—A Launchpad or Breakdown Zone?
A16z Calls for Crypto Custody Reform to Empower RIAs
Crypto Whales Bag $20M In AAVE & UNI, Are DeFi Tokens Eyeing Price Rally?
BNB Price Eyes Breakout, But $600 Remains A Stubborn Ceiling
Bitcoin and Global M2 Money Supply: A Misleading Connection?
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Altcoin20 hours agoMantra (OM) Price Pumps As Founder Reveals Massive Token Burn Plan
-
Ethereum22 hours agoEthereum Breakout Imminent? Analyst Expects ETH Price Surge To $2,000
-
Market22 hours agoBNB Burn Reduces Circulating Supply by $916 Million
-
Market24 hours agoEthereum Price Dips Again—Time to Panic or Opportunity to Buy?
-
Altcoin14 hours agoDOGE Whale Moves 478M Coins As Analyst Predicts Dogecoin Price Breakout “Within Hours”
-
Market20 hours agoThis Crypto Security Flaw Could Expose Seed Phrases
-
Market17 hours agoHow It’s Impacting the Network
-
Altcoin17 hours agoAnalyst Reveals Why The Solana Price Can Still Drop To $65
✓ Share: