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Binance Sidelines Pi Network Again In Vote To List Initiative, Here’s All
As Binance’s Vote to List initiative kicks off, the exchange has turned its back on Pi Network for the second time. Binance is proceeding with the decentralized listing program but Pi Network is noticeably absent from the raft of cryptocurrencies.
Pi Network Fails To Make Binance List
Pi Network enthusiasts are in limbo following the absence of the token in Binance’s Vote to List initiative. According to a press release, Binance has opened voting for its second Vote to List initiative.
This time, 12 tokens are up for community voting, with Binance proceeding to spot-list successful tokens. Apart from vote count, Binance says it will consider trading demand, a risk assessment, and a compliance check to decide on tokens that will make the listing.
The selected tokens include VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. While the first focused on memecoin, the second iteration beams a searchlight on utility tokens cutting across several verticals.
Back in March, Binance excluded Pi Network from its first edition of the Vote to List initiative. Binance has clarified that only BNB-based projects will be allowed to participate in the Vote to List initiative, dousing optimism for Pi Network enthusiasts.
When Will Binance List The Asset?
Despite Pi missing out on the Vote to List program, there is still a ray of hope for community members. Binance can list Pi via a direct listing in the future but a timeline is unavailable.
Experts say a lack of transparency by The PiCoreTeam (PCT) is a reason why Binance has not listed Pi Network. Particularly, the exchange took swipes at the PCT for failing to give proper disclosures on the Pi Network’s locking and burning mechanism.
Pi Network secured a major listing on the BTCC Exchange, bringing the token closer to being listed on mainstream exchanges. While a listing hovers on the horizon for Pi, the PCT’s domain auction is gathering steam with over 200,000 bids.
Pi price has been largely underwhelming over the last day, losing nearly 5%. Pi trades at $0.6646 to drop below the $0.7 mark for the first time in over a month.
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.
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XRP’s interest has surged in the last 24 hours, providing a bullish outlook for the altcoin. Based on this, Ripple’s native crypto is eyeing a rebound, with crypto analyst Ali Martinez predicting that the XRP price could rebound to as high as $2.60 if it holds the $2 support.
XRP’s Open Interest Surges Above $3 Billion
CoinGlass data shows that XRP’s open interest has surged in the last 24 hours, rising to as high as $3.61 billion, indicating huge interest in the altcoin at the moment. This provides a bullish outlook for the altcoin, seeing as traders are heavily betting on it.
Crypto analyst Ali Martinez also suggested that Ripple’s native crypto could rebound soon. In an X post, he stated that if XRP can stay above the key $2 level, a 30% move toward the channel’s upper boundary at $2.60 could be next.
Crypto analyst CasiTrades’s prediction also showed that the altcoin could surge to $2.70 if it breaks above $2.24. This could eventually pave the way for Ripple’s native crypto to rally to a new all-time high (ATH).
However, there is still the possibility that the altcoin could also drop to new lows. A CoinGape market analysis revealed that Ripple’s price is at a crossroads, as a wedge pattern signals a 70% crash or 700% surge.
Crypto analyst Rex also predicted that XRP could soon witness a bullish reversal. He stated that a breakout is coming and that this is the most obvious play of the cycle. His accompanying chart showed that XRP could rally to as high as $2.9.
Two Paths For Ripple’s Native Crypto
Crypto analyst Egrag Crypto stated that the XRP price could drop to $0.65 or rally to $17. This is based on an Ascending Broadening Wedge, which is currently forming for the altcoin. The analyst remarked that XRP first needs to close above $3.50 for a solid start.
He claimed that if the altcoin hits the $5 range but doesn’t close above it convincingly, this formation has a higher chance of playing out. Egrag Crypto asserted that XRP must retest $1.90 after being rejected from the $5 range.
Once that happens, the altcoin will need another attempt to close above $5, ideally hitting $6 and closing above that level. The analyst affirmed that XRP will likely blast to double digits within two to three weeks if that happens.
The target move for this Ascending Broadening Wedge is a potential $17.50. This aligns with another prediction in which he stated that the XRP price could rally to double digits by the July 21 cycle peak.
However, Egrag Crypto warned that there is still a 70% chance that XRP breaks to the downside and only a 30% chance for an upside breakout. If the altcoin breaks down, the analyst claims the measured move would take Ripple’s native crypto back to $0.65.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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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The crypto market has closed yet another week, keeping traders and investors cautious with sluggish price performances. Bitcoin (BTC) price held the $83K level with no major gains in the past seven days. Whereas, Ethereum (ETH), Solana (SOL), and XRP prices mimicked a sluggish action.
Notably, the latest announcement by Donald Trump about reciprocal tariffs has rattled global markets, with even risk assets encountering some macro heat. Mentioned below are some of the top market updates reported by CoinGape Media over the past week.
Crypto Market Faces Macroeconomic Pressure
This week saw a couple of concerning macro developments that sparked a cautious sentiment among traders and investors. CoinGape reported that the manufacturing PMI and JOLTS data came in weaker than expected this week.
The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February. Also, the U.S. JOLTS job openings for February stood at 7.568 million, coming short of the expected 7.690 million and lower than the 7.762 million recorded in January. This macro data pointed toward a bearish outlook for the broader market.
In turn, even the crypto market saw a stalled movement, with Bitcoin & Ether prices negating any major gains over the past seven days. In addition, Donald Trump’s Liberation Day, which is the tagline for his proposed reciprocal tariffs on other countries, has added to the pressure on broader markets.
Bitcoin, Ether, & Other Coin Prices Over The Week
BTC price witnessed a marginal 0.5% jump in the past seven days and closed in at the $83K level. In the past 7 days, the flagship crypto stooped as low as $81K whilst also touching a $87K high.
ETH price saw a drop of nearly 2% weekly and exchanged hands at the $1,800 level. Ethereum hit a bottom of $1,700 whilst also nearing a high of $2,000 this week
SOL price fell by roughly 5% over the week to reach $120. The crypto’s weekly high and low was $135 and $112, respectively.
XRP price mimicked the broader crypto market trend, dipping over 2% in seven days to $2.13. Ripple’s coin is consolidating despite speculations of an imminent settlement of the lawsuit against the U.S. SEC.
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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CryptoQuant CEO Ki Young Ju avers that the Bitcoin bull market is over as prices hover around the $82K mark. The expert hinges his theory for Bitcoin price on key technicals, analyzing the relationship between Realized Cap, Market Cap, and selling pressure to reach his conclusions.
Expert Gives Reason Why The Bitcoin Bull Market Is Over
According to an analysis on X, Ki Young Ju reveals that Bitcoin is firmly in bear market territory to the dismay of investors. The CryptoQuant CEO surmised in his analysis that the curtain has fallen for the Bitcoin bull market giving reasons.
In his analysis, Ju bases his prediction on the interplay between Bitcoin’s Realized Cap and the asset’s market capitalization. Realized market cap measures Bitcoin’s value using the price at which each BTC held in wallets was transferred. On the other hand, the market cap measures value by multiplying the circulating BTC supply with current prices.
The CryptoQuant CEO notes that market capitalization alone is not the best way to track the Bitcoin Bull Market. According to Ju, when there is low selling pressure in the markets, small Bitcoin purchases often send the market capitalization to new highs. Ju notes that Strategy has ridden the tailwind of low selling pressure to grow the paper value of their BTC holdings.
Conversely, when sell pressure is high, sizeable purchases are unable to send Bitcoin price on a rally. Strategy’s purchase of 22,048 BTC for $1.92 billion did not trigger a rally like its previous acquisition.
Onchain data indicates that Bitcoin’s Realized Cap is rising but market capitalization continues its decline, an indicator of bearish sentiments. Ju notes that fresh capital is flooding the markets but prices are not responding, signaling the end of the bitcoin bull market.
“When even large capital can’t push prices upward, it’s a bear,” said Ju.
Bitcoin Price Flashes Bearish Signals
Despite glowing fundamentals and large acquisitions, on-chain indicators are underwhelming for the top cryptocurrency. Bitcoin price is consolidating within a bearish pennant, a signal for even lower prices. However, a small bump has triggered speculation of a potential Bitcoin price decoupling from S&P500.
Crypto Sat says a short-term drop to $80K is in play for Bitcoin with prices standing at $82,950. However, Ju has even grimmer predictions for BTC, noting that a near-term rally is unlikely for the asset. The CryptoQuant CEO notes that it will take the asset up to six months to drag itself out of the bear market.
“Sell pressure could ease anytime, but historically, real reversals take at least six months,” said Ju.
Despite the dour sentiments, US Treasury Secretary Scott Bessent has praised BTC as a store of value comparing it with gold.
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.
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