The cryptocurrency market shows diverse trends: from issues with Pi Network to growth in Solana and prospects for Unstaked. Let's explore the details.
Pi Network: Concerns About Token Unlocking
Market participants are closely monitoring Pi Network amid concerns about the upcoming token unlock. The price of Pi has dropped sharply from $1.6692 to $0.7720, leading to a loss of about $4.5 billion in value, with a market capitalization now at around $5.5 billion. Analysts highlight the danger of excess supply, as 72 million tokens worth approximately $55 million are being unlocked this week, leading to daily volumes averaging over 9.2 million tokens. Without strong upward drivers, Pi could slide further.
Solana: Growth Driven by On-Chain Activity
While Pi Network faces challenges, Solana demonstrates positive results amid strong on-chain metrics. Over the past week, Solana processed over 462.5 million transactions, making it the most active blockchain network. The price of SOL currently sits at $173.62, which is an increase of 82% from a yearly low. As trading volumes on decentralized exchanges increase, Solana is solidifying its position in the market.
Unstaked: Success in Presale and AI Technology
Alongside changes in other cryptocurrencies, Unstaked is gaining traction due to its utility and active fundraising in the presale stage. The project has raised $7.8 million and is offering tokens at a price of $0.010126. One of Unstaked's key features is its AI social agents designed for automating interactions on platforms like Twitter and Discord. Additionally, a $1 million giveaway is ongoing, further attracting market participants' attention.
Current trends in cryptocurrency show contrasting movements: Pi Network will remain under pressure from token unlocking, while Solana and Unstaked continue to demonstrate growth through active development and practical application.
