The crypto market has seen significant shifts, including the fall of Pi Network, discussion of an ETF for SHIB, and the successes of BlockDAG in sales and testing.
Pi Network Outlook Remains Cloudy
Since launching its mainnet on March 14, Pi Network's token has lost a significant amount of value, dropping 78% from its February high of $3 to the current $0.67. The price trend shows a decline, with lower highs and lows being formed. Trading volumes have also collapsed — down from $1.38 billion to $156 million, an 89% decrease.
According to Alvin Kan, COO of Bitget Wallet, some early users are cashing out. Others are worried about more tokens hitting the market and dragging the price down.
SHIB ETF Discussion and Its Impact
Shiba Inu has returned to discussions after its lead developer Lucie floated the idea of a SHIB-backed ETF. While this is still just talk with no filings made, interest is stirring. Recent on-chain data indicates that exchange outflows are at their lowest in three months, with over 50 trillion tokens moved into wallets since December.
The price of SHIB is currently stuck between $0.000012 and $0.000020, with $0.000016 serving as key resistance. A clear move above that level could lead to a 47% rally, but declining network usage suggests reduced user engagement.
BlockDAG's Success Amid Rising Interest
While others are chasing news cycles, BlockDAG is focused on delivery. After its third keynote, the project raised $5 million in just two days, pushing total presale funds to $211.5 million. The Beta Testnet is already live, processing more than 1.2 million transactions through over 100 nodes worldwide.
BlockDAG plans to support over 1,000 dApps by 2026 and offers compatibility with both EVM and WASM for faster development. The project's real-world usage and user adoption highlight its practical application in the market.
The crypto market is displaying volatility, with successful projects continuing to evolve while others are facing difficulties. Pi Network is struggling, SHIB is relying on ETF rumors, whereas BlockDAG is gaining momentum through active engagement and team effort.
