The crypto market experienced another busy week with major events shaking up the landscape. The U.S. Federal Open Market Committee made its decisions, and the long-running XRP lawsuit was finally resolved, bringing relief to the community. However, the Pi Network faced some tough challenges.
Crypto Market Events of the Week
The week's events in the crypto market included decisions by the U.S. Federal Open Market Committee and the resolution of the XRP lawsuit, positively impacting the community.
Pi Network Challenges and Binance's Refusal
The migration and Know Your Customer (KYC) processes for the Pi Network are now complete, yet many users were unable to claim their tokens. This led Pi to fall behind the market, causing doubts about the timing for purchase. Among the top 100 cryptocurrencies, Pi was the worst performer last week. Binance refused to list Pi, stating that any token not listed on the Binance Smart Chain is not eligible for a vote.
Analysis of Pi Coin's Future Prospects
The Pi token fell below the $1 mark after reaching an all-time high of $3 following its Open Network launch on February 20. It fell to lows around $0.70 before rising to $0.96. Despite the downturn, analysts see potential for a rebound: if the support level holds strong, Pi may push back towards $2.
Despite the current downturn and challenges for Pi Network, some analysts see potential opportunities for recovery. However, the market remains uncertain, and future decisions will depend on operators' actions and investors' confidence.
