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Pi Network (PI) Price Volatility, Ripple (XRP) Whales on the Move, and More: Bits Recap May 1
TL;DR
Pi Network's token has experienced significant price volatility, reaching $0.20 recently amid community excitement. Ripple's XRP has dropped 4% with whale activity indicating a potential further decline.
Key points
- Pi Network's token reached $0.20 on April 29
- Ripple's XRP price dropped by 4% recently
- Whale activity suggests a potential downtrend for XRP
- Pi Network completed over 526 million validation tasks
- One trader sold 800 billion SHIB tokens for millions
Pi Network
Pi Network’s native token has been on a roller coaster lately, following the team’s updates and rumors of further advancements.
Ripple’s XRP has slipped by 4% over the past week, while the recent whale activity suggests that an additional downtrend could be on the way. Meanwhile, one anonymous trader made millions after selling 800 billion SHIB tokens.
PI’s Price Swings
The cryptocurrency started the business week on the right foot, briefly touching $0.20 on April 29. It remained unclear what triggered the resurgence, as one could speculate that the community enthusiasm surrounding the migration to protocol 22, which was expected to be completed a few days ago, could have been among the catalysts. The upgrade is the next in line after the project previously rolled out the migration to version 21.
Another potential driver could have been the milestone that the Core Team announced. In a recent blog post, they touched upon the advancement of Artificial Intelligence, outlining that “the hardest part of building reliable systems is still deeply human.” On that note, Pi Network revealed that over 526 million validation tasks had been completed by one million verified individuals.
PI’s revival drew attention, and some analysts envisioned a further rally ahead. X user JAVON MARKS, for instance, argued that the token has shown a “clear breakout and retest of a resisting trend,” which could be a precursor of a massive bull run. They forecasted that PI might explode by 1,400% to around $2.80 and that “this may only be the beginning stages of the process.”
However, PI could not keep the momentum and headed south on April 30, with its valuation falling by double digits to around $0.17. As of this writing, it trades at roughly $0.18, representing a 2% daily rebound.
XRP Whales Know Something?
Ripple’s cross-border token has also seen heightened volatility lately, with its price currently hovering around $1.37, down 4% on a weekly basis.
Q&A
What caused the recent price surge of Pi Network's token?
The recent price surge of Pi Network's token may be attributed to community enthusiasm surrounding the migration to protocol 22 and the announcement of significant milestones by the Core Team.
How much has Ripple's XRP price changed recently?
Ripple's XRP has slipped by 4% over the past week, indicating a potential downtrend.
What significant milestone did Pi Network achieve recently?
Pi Network announced that over 526 million validation tasks have been completed by one million verified individuals.
What did an anonymous trader do with SHIB tokens?
An anonymous trader made millions by selling 800 billion SHIB tokens.
