Newton Gitonga
Cryptocurrencies traded in green on Thursday as Bitcoin reclaimed the key $97K mark.
The global crypto market cap increased by 2% in the past 24 hours to $3.23 trillion, reflecting renewed optimism.
Meanwhile, PI, TRON, and Solana topped today’s charts for different reasons.
Pi Network dominated trends as it finally launched its long-awaited mainnet on February 20.
Tron’s meme coin ecosystem thrived in the past day, with top coins surging over 70%.
On the other hand, Solana’s woes continued amid buyer exit.
PI’s Open Network mainnet finally goes live
Pi Network launched the long-awaited mainnet on February 20, allowing the community to trade their PI Coins on cryptocurrency exchanges.
The development represents a crucial milestone for the Pi Network and a relief for participants who have mined the tokens over the past six years.
Pi Network Mainnet Launch
Pi Network’s big mainnet launch today at 8 AM UTC has X lit up. After six years, it’s finally here, and users are stoked—or skeptical. Claims of $15 billion in funding float around, but there’s no hard confirmation. Trading’s kicking off on exchanges…
While the community has rallied behind the project recently, the latest trends suggest holder sell-offs.
Pi Coin has witnessed significant declines.
It traded at $2.20 during the open mainnet launch before plunging beneath $1 in the following hours, as per CoinGecko data.
Sell-offs from holders likely contribute to the price dip.
Enthusiasts will watch the altcoin’s performance as it hits more exchanges.
Pi Coin’s utility includes facilitating P2P payments, removing the need for traditional banks.
Also, developers can create decentralized applications (dApps) that use Pi Coin for transactions, DeFi, and gaming.
TRON meme tokens skyrocket
TRON memes saw robust price gains over the past 24 hours.
The market capitalization of all meme coins within the TRX ecosystem increased by over 20% in the past day to $184 million.
The significant daily trading volume confirms robust investor interest in the altcoins.
TRON’s top meme token, Sundog, led the upside with an over 70% surge in the previous 24 hours.
These developments signal trend shifts, with investors joining the Tron meme token ecosystem.
Recent incidents such as Solana’s criticism over the LIBRA scam likely drive this migration.
CryptoQuant data showed surging transaction volume on Tron’s meme coin generator SunPump.
Increased transaction per token signals amplified investor optimism and market activity.
While TRON’s meme token ecosystem recovers, TRX flashed rebound signals at $0.2413, up 2% on the weekly chart.
Solana bulls retreat
Solana has attracted criticism over the past few days as the crypto community attacked its ecosystem for facilitating scam undertakings, especially with LIBRA’s fallout.
That has triggered substantial bearishness for SOL’s price.
The alt has plunged beneath the lower border of an ascending parallel channel that defined its price action since June 2023.
That signals overwhelming selling pressure, indicating continued price dips.
SOL trades at $172.54 after a 0.84% increase in the past 24 hours.
The deteriorated daily trading volume highlights substantial selling pressure.
Solana could plunge towards $136 amid intensified bearishness.
The post Altcoins today: Pi Network’s mainnet goes live, TRON memes rally, SOL bears dominate appeared first on Invezz
