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Pi Network Stabilizes, But Unverified Market Cap Fuels Concerns

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Pi Network’s token price finally stabilized after a market correction, staying steady despite broader volatility. The token’s daily trading volume also reached $500 million.

PI is also experiencing high inflation, and its market cap claims remain unverified.

Pi Network Shows Stability

Pi Network, a blockchain project that’s taken the crypto space by storm, is having an eventful few days. Binance updated the results of its recent community vote to list the token, confirming that the proposal had 86% support. However, its listing decision is still pending.

Despite broader concerns about a possible bear market, the altcoin is stabilizing after a brief market correction.

pi network price
Pi Network Weekly Price Chart. Source: TradingView

As March 14 (Pi Day) approaches, some fans are anticipating a major announcement from developers. The project’s official X account surpassed Ethereum’s follower total and is currently the fourth-most-followed crypto account on the website.

Of course, the recent Pi airdrop was the most valuable airdrop in history at $12.6 billion, so making an even bigger announcement would be difficult.

Over the last five days, 200 million Pi tokens have been put into circulation. This translates to an inflation rate of 0.634% per day and 231.41% per year, which are extremely high.

Also, CoinMarketCap data shows that PI’s market cap has exceeded $10 billion, which places it among the top 15 cryptocurrencies in the market. Yet, the platform has not updated its ranking, potentially because the market cap is self-reported and not independently verified.

“Pi Network is currently ranked at 3157 on CoinMarketCap due to its unverified market cap and circulating supply. But if the self-reported supply is accurate, Pi would have over a $10 billion market cap, placing it at 11-12,” wrote poular influencer Zoe.

Nonetheless, these claimed numbers are still unverified, and Pi Network has some harsh critics. Ben Zhou, CEO of Bybit, loudly called the project a scam, reminding his followers that the Chinese government regards the project as an outright pyramid scheme.

CoinMarketCap is apparently reluctant to list the token as a top contender at this early stage. Other major data tracking platforms like CoinGecko omitted the token’s market cap.

In short, the recent news cycle about the Pi Network has been very chaotic. Its supporters continue to build up the project’s international notoriety, but critics wonder if the whole enterprise is a bubble.

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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XRP Price Moves Higher—But Is This Just a Temporary Bounce?

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

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At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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BTC dips to $86k for the first since November amid market sell-off

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Bitcoin dips to $86k

Key takeaways

  • BTC dipped to the $86k level for the first time since November 2024.
  • The Bitcoin Pepe presale has surpassed $3.5m as investors eye stage six.

Bitcoin falls to a three-month low as total crypto market cap dips below $3T

The cryptocurrency market has been bearish since the start of the week. Bitcoin is down by nearly 4% in the last 24 hours and briefly touched the $86k level on Tuesday. The dip was BTC’s lowest level in three months as the broader crypto market experienced a massive sell-off.

At press time, the price of Bitcoin stands at $88,752 and could continue with its recovery if the bulls regain control. The total cryptocurrency market cap also dropped below $3 trillion as Ether and other altcoins underperformed. 

What is Bitcoin Pepe?

Bitcoin and other major cryptocurrencies have been underperforming over the last few days. However, investors could consider the dip as an opportunity to purchase more tokens before a possible market recovery. 

Investors also continue to push funds into new and exciting projects. Bitcoin Pepe is one of the projects gaining ground in its presale thanks to its unique value proposition to investors. 

Bitcoin Pepe is a project seeking to leverage the liquidity and security of the Bitcoin blockchain. The project will use Bitcoin’s position in the market to introduce memecoins to its ecosystem. 

According to the official website, Bitcoin Pepe is a layer-2 network building on the Bitcoin blockchain. This project is a meme-specialized layer-2 solution built on top of Bitcoin, bringing Solana-style scalability to the Bitcoin network.

The layer-2 network will enable Bitcoin Pepe to become home to all memecoin trading and move all this economic activity to the BTC ecosystem. It will unlock decentralized finance (DeFi) and meme trading on top of BTC.

Bitcoin Pepe is also the first-ever meme initial coin offering (ICO) on the Bitcoin blockchain, making it the perfect fusion between BTC’s security and the unstoppable force of memecoins. 

The project will make it easy for BTC Maxis to trade memes. Combining high levels of trust (BTC) with high levels of performance (SOL) will lead to high levels of retail mass adoption.

Bitcoin Pepe presale to enter stage six, raises over $3.5m

The Bitcoin Pepe presale is two weeks old and has raised over $3.5 million so far. The presale will enter the sixth stage in the coming hours or days, with the $BPEP price set to slightly increase. 

$BPEP, Bitcoin Pepe’s native token, can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this fifth presale stage, $BPEP is going for $0.0255 and is set to increase to $0.0268 in the next stage. The Bitcoin Pepe presale could be an opportunity to purchase $BPEP at a discount. 

Will Bitcoin Pepe improve the Bitcoin ecosystem?

Bitcoin Pepe will unveil products and services that would make memecoins available on the Bitcoin blockchain. While Bitcoin is the leading cryptocurrency in the world, its blockchain isn’t as versatile as Ethereum or Solana.

This project wants to change this narrative by introducing new utilities to the Bitcoin blockchain. With Bitcoin Pepe, memecoins can launch on the Bitcoin blockchain with ease. Introducing memecoins on the Bitcoin blockchain will enable it to become home to a crazy high-octane meme experience. 

Bitcoin Pepe is set to unlock $2 trillion in dormant BTC capital and make it available for memecoin trading. This layer-2 network will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users. Its native $BPEP token will power several activities within the Bitcoin Pepe L2 network. 

Should you buy the $BPEP token ahead of the sixth presale stage?

The Bitcoin Pepe presale is heading into its sixth stage in the coming hours or days, with the token price set to increase slightly. This could be an excellent opportunity to get in on the project as presales allow investors to gain early exposure to projects. 

Bitcoin Pepe is working hard to become the leading L2 network on the Bitcoin blockchain, offering users security and liquidity. By ushering in the era of memecoins, Bitcoin Pepe could become one of the most important projects within the Bitcoin ecosystem. The presale allows investors to purchase its native token at a discount before it goes live on trading platforms.



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Bitcoin ETF Net Outflows Near $1 Billion Amid Market Sell-off

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Net outflows for US spot Bitcoin ETFs (exchange-traded funds) approached the $1 billion threshold on Tuesday. It marks the extension of these losses, with weekly outflows approaching $1.5 billion.

The Bitcoin ETF outflows come amid a broader market sell-off, hugely provoked by macroeconomic concerns after President Trump’s tariff threats.

Bitcoin ETF Net Outflows Near $1 Billion

Data on Farside Investors and Trader T’s analysis show that Bitcoin ETF net outflows reached $937 million on Tuesday. Fidelity’s FBTC led these outflows with $344 million, followed by BlackRock’s IBIT at $164 million in redemptions.

Similarly, Bitwise’s BITB and Grayscale’s BTC each recorded $88 million and $85 million in net outflows, respectively. Franklin Templeton’s EZBC lost $74 million, while Grayscale’s GBTC and Invesco’s BTCO declined by $66 million and $62 million, respectively.

In the same way, Valkyrie, WisdomTree, and VanEck’s funds also reported net outflows, with BRRR, BTCW, and HODL posting $25 million, $17 million, and $10 million, respectively.

Bitcoin ETF Flow
Bitcoin ETF Flow. Source: Farside Investors

These outflows surpass thresholds set on December 19, when the US spot Bitcoin ETFs saw nearly $672 million in withdrawals after Bitcoin slipped below $97,000.

According to crypto investor Dissolve DC on X (Twitter), the turnout suggests widespread panic on Wall Street. Notably, the spot Bitcoin ETF financial instrument provides institutional investors indirect access to BTC.

“We asked Wall Street to join the party this is what we get,” remarked the investor.

Experts ascribe the panic to concerns about President Trump’s tariff confirmations, which triggered up to $1 billion in liquidations across crypto markets. As BeInCrypto reported, President Trump reactivated talks of tariffs on goods from Mexico and Canada, reigniting inflation fears and pushing investors away from risk assets.

“We’re on time with the tariffs, and it seems like that’s moving along very rapidly…We’ve been mistreated very badly by many countries, not just Canada and Mexico. We’ve been taken advantage of,” Reuters reported, citing Trump at the White House.

In the immediate aftermath, BTC lost the crucial support at $91,000 before extending a leg down to trade for $88,928 as of this writing. These concerns were also reflected in last week’s outflows from digital asset investment products.

Bitcoin Price Outlook: Key Levels To Watch

On the daily timeframe, the BTC/USDT trading pair shows a shift in market structure. This follows Bitcoin price dropping below a key bearish breaker level (formerly demand zone) around the $93,700 area. This flip adds to the overhead pressure on BTC, as the supply zone at $103,991 remains a strong resistance level.

The price is approaching the 200-day EMA at $85,696, which provides crucial support. A breakdown below this could accelerate bearish momentum. If the 200 EMA fails, the next major support lies in the $67,797–$70,000 demand zone, where buyers may step in.

The RSI (Relative Strength Index) is at 29.80, indicating oversold conditions for BTC but with no clear reversal signal. The MACD (Moving Average Convergence Divergence) shows a bearish crossover with deep negative histogram values, reinforcing the downtrend.

Similarly, a high-volume node (grey for bears) exists around $91,000, acting as immediate resistance. The low-volume area below the current price suggests a potential sharp move downward.

BTC Price Performance
BTC Price Performance. Source: TradingView

Overall, Bitcoin is at a crucial support level. If buyers (yellow bars for bulls) defend the 200 EMA, a rebound toward $91,000 is possible. However, a break lower could lead to $70,000 in the coming weeks.

IntoTheBlock’s Global In/Out of the Money metric corroborates the outlook. It shows Bitcoin faces immediate resistance (red). Any efforts to move the price up would be countered by selling pressure from approximately 6.11 million addresses, which bought 4.1 million BTC at an average price of $98,050.

BTC GIOM
BTC GIOM. Source: IntoTheBlock

Meanwhile, Bitcoin’s initial strong support lies around the $72,500 level, where 6.76 million addresses hold approximately 2.65 million BTC bought at an average price of $65,304.

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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