Newton Gitonga
Cryptocurrencies traded with mixed performances on Tuesday, with Bitcoin still hovering beneath $97K.
Meanwhile, Solana dominated trends as its meme token ecosystem faced a backlash amidst the LIBRA scam fallout.
While that has dampened interest in memes and altcoins, Pi Network saw amplified enthusiasm, potentially due to its forthcoming mainnet launch, now 48 hours away.
LIBRA crash impacts Solana’s sentiments
Meme tokens witness amplified scrutinization after the LIBRA meme coin scandal.
Such developments have hurt Solana, which thrived amidst the latest meme token supercycle.
Several metrics show Solana suffering from negativity following the sudden fall of LIBRA, the SOL-based meme coin connected to Argentina’s president.
LunarCrush Analytics revealed that Solana targeted yearly lows in sentiments, price, and social engagement.
🚨Solana is on track to hit the lowest sentiment, social engagement, and price so far in 2025.
It had done so as of this publication.
These indicators have been plunging since the US president’s inauguration.
However, the downside intensified on 14 February, after LIBRA’s launch.
Solana has lost nearly 20% within that timeframe.
The alt trades at $168 with visible bearish signals suggesting more plunges before possible upswings.
Enthusiasts explore Pi Network as mainnet launch nears
Google Trends confirms increased interest in Pi Network as the project braces for mainnet launch in the coming two days.
Google data shows “Pi Network” searches soared to 56 between February 9 and 15.
That doubled the previous highest score of 26 – recorded in March last year.
Further, Pi Network crossed 110M downloads, with 110K daily average users within the previous month.
PI’s app attracted over 540K new users within 24 hours on 17 February.
Also, Binance opened community voting on PI listing.
🚨 BREAKING: Binance Opens Community Vote on Pi Network Listing!
📢 Binance has officially acknowledged the growing interest in Pi Network and is now giving the community a voice! A Community Vote has been launched, inviting users to share their opinions on the question:
💬…
That reflected the leading exchange’s recognition of the magnified interest in the project.
Furthermore, the PI community is pursuing prominent figures to expand the project’s awareness.
Recently, they targeted Tesla CEO Elon Musk, promoting Pi Network as a scalable, accessible, and eco-friendly blockchain.
While the billionaire didn’t react, the move underscored the community’s dedication to exploring endorsements by influential entities.
Pi Network is among the most followed crypto launches.
The project aims to boost crypto mining by making it accessible to mobile phone users.
Unlike proof-of-work platforms that need high-end hardware, Pi Network allows individuals to mine PI coins using a light mobile application.
This accessibility has driven significant user engagement ahead of its official debut.
PI’s upcoming performance will depend on how it handles its supply after the official launch.
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