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PI Network faces a 25% price drop while the tokens unlock avalanche continues

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  • The volume of operations in 24 hours is triggered at USD 1.63 billion.
  • A transaction moved 90 million tokens pi.
  • The announcement of the central team is expected for May 14.

    • Pi Network (PI) has lost a quarter of its value in a single day, going back from USD 1.40 maximums to around USD 1.10 after new 8 million tokens Pi in circulation were unlock.

    The fall of Token, which reversed a 100% rebound only a few hours earlier, has renewed the focus on its volatile commercial activity and the next unlock of 13 million tokens scheduled for May 15, a supply event that could add more pressure to the decline.

    The abrupt decrease began shortly after a week of intense commercial interest.

    In some exchanges, Pi rose around USD 0.70 to USD 1.29 and briefly reached a maximum of USD 1.40 before going back.

    Fountain: Coinmarketcap

    The increase registered a volume of operations in 24 hours of approximately USD 1.63 billion, driven by an important activity in the chain.

    Only a transaction involved 90 million tokens PI, indicating the growing influence of whale operations in the direction of the market in the short term.

    Tokens unlock triggers the mass sale

    The mass sale of May 11 coincided with the scheduled launch of 8 million previously blocked tokens, which added a new offer to the market.

    While tokens unlocks are routine for most cryptocurrency projects, the scale of this launch triggered an immediate reaction of traders who rushed to get rid of positions in dilution forecast.

    The next unlocking of Pi Network, on May 15, could introduce 13 million tokens PI even larger in the exchanges.

    This has raised concerns among investors about whether the foundations on the side of the platform’s demand can absorb such increases in circulating offer without greater pricing erosion.

    Some analysts point out that, unless PI central team makes a significant advertisement before or during the unlocking of May 15, the price of Pi could try support areas near USD 0.80 or even USD 0.60.

    The possibility of a massive sale in cascade has become more likely in the absence of new updates or listings of public services.

    Rumors and next update

    Despite the strong correction, the community speculation remains active around a possible price of PI in centralized exchanges.

    During the past week, rumors arose about an imminent binance price, which contributed to the increase in both price and volume. These rumors are still not verified at the time of writing this article.

    To the speculation is added an expected statement of the central team of Pi scheduled for May 14.

    No details have been revealed about the nature of this update, but the moment, only one day before the next important unlock of the Token, has led to the expectations of a product launch, an exchange association or a progress report of the main network.

    Many in the community consider the next announcement as a decisive moment.

    If promoters do not meet expectations, feeling could be further signed, increasing the probability of sustained weakness of prices during the second half of May.

    Volatility highlights price discovery

    While Pi Network’s volatility has worried some merchants, others argue that PI is still in the process of pricing, a common phase in the life cycle of emerging cryptoactives.

    During this period, large fluctuations are not unusual, since the market seeks fair value based on supply, demand and speculative interest.

    Since it began to quote on centralized platforms in December 2023, PI has lacked a completely defined range of values ​​due to restricted withdrawals and limited support of exchanges.

    As these restrictions are gradually lifted and tokens unlocks continue, the price of the asset is expected to stabilize, although short -term movements are likely to remain driven by the holders.

    That said, the next launch of 13 million tokens will be a key test for Pi Network resistance. If the project can combine this with a tangible update or exchange news, you could avoid a greater decline.

    But in the absence of such developments, traders can see deeper setbacks before a new support floor is established.

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    Coinbase is preparing to launch XRP futures while the expansion of derivatives continues

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    • Presentation of XRP futures carried out under the process of autocertification of the CFTC.
    • Ripple paid $ 50 million in an agreement with the SEC last month.
    • Grayscale, Franklin Templeton and others submitted requests for XRP ETF

    Coinbase has taken another important step in the expansion of its supply of derivatives by requesting regulatory approval to launch an XRP futures contract. The American cryptocurrency exchange platform presented on Thursday the documentation to the Trade Commission of Futures of Raw Materials (CFTC) to autocertify the new product, with a launch date set for April 21.

    This measure positions Coinbase to offer its third product of cryptocurrency futures in 2024, after the departures with Solana (Sun) and Hedera (Hbar). Unlike cash operations, future contracts allow investors to speculate on the fluctuation of the price of an asset without having the underlying token.

    The incorporation of XRP could significantly improve institutional access to the currency, especially following the Ripple Partial Agreement with the United States Stock Exchange and Securities Commission (SEC) last month.

    The launch of XRP futures is scheduled for April

    The last presentation of Coinbase Derives before the CFTC describes the plans so that XRP futures begin to quote from April 21, waiting for regulatory authorization.

    The application is made in accordance with the CFTC self -finish process, a mechanism that allows bags to streamline the inclusion of products in the market provided they comply with all applicable standards. If the agency does not oppose, the product can come into operation without delay.

    The Coinbase decision of adding XRP to its line of regulated futures underlines its broader strategy to support both native cryptocurrency investors and traditional.

    In recent months, the platform launched futures for Solana and Hedera, both with the approval of the CFTC by the same route. Together with XRP, Coinbase awaits regulatory approval for futures contracts linked to Cardano (ADA) and Natural Gas (NGS), whose entry into operation is planned by the end of April.

    The XRP price remains stable above 2 dollars

    Currently, XRP quoted slightly above $ 2 with minimal intradic volatility. The relatively stable performance of the currency contrasts with the cryptocurrency market in general, where prices have remained very reactive to macroeconomic signals and regulatory updates.

    Fountain: Coinmarketcap

    The main utility of XRP lies in its function as a liquidation token for rapid and economic cross -border payments. The launch of a regulated futures contract could allow investors to cover or obtain exposure to the fluctuation of the token price without having it directly.

    This can be especially attractive to high frequency institutions and traders that seek to avoid custody risks associated with cryptocurrency holdings in cash.

    The measure could also affect the liquidity of the market in the cash of XRP, since a greater activity of derivatives is often correlated with stronger commercial volumes and price discovery mechanisms.

    Legal clarity could unlock ETFs

    The Coinbase initiative on XRP futures arrives shortly after Ripple, the token creator company, resolved its prolonged legal dispute with the SEC. In March 2024, the agency withdrew its appeal in the case initiated in December 2020.

    Ripple agreed to pay 50 million dollars As part of the agreement, an amount significantly lower than the 125 million originally proposed. Ripple also withdrew his counterpart, ending the dispute of several years.

    The resolution has fed the speculation that the SEC could approve a bottom quoted in the XRP bag (ETF) in cash. Several important fund managers, such as Grayscale, Franklin Templeton, Bitwise, 21Shares, Coinshares, Wisdomtree and Canary Capital, have requested the approval of XRP ETFs.

    Proshares and Volatility Shares also seek regulatory approval for their related investment products. Analysts believe that regulatory clarity on XRP’s legal status could pave the way for larger financial institutions, such as Blackrock and Fidelity, explore new product offers.

    While the SEC has not yet issued any approval, industry participants suggest that the agreement has eliminated a key barrier to adopt XRP within the most traditional financial frameworks.

    Coinbase expands cryptocurrency derivatives

    The coinbase self -finish model is emerging as a proof case of how native cryptocurrency companies can operate within traditional financial regulation.

    Exchange’s growing futures portfolio demonstrates how cryptocurrency companies are adapting to the supervision of the CFTC, even while the broader regulatory tensions between US agencies continue.

    The CFTC has expressed interest in expanding its role in cryptocurrency derivatives markets, often facing the SEC for jurisdictional issues.

    Coinbase’s ability to function in this environment could determine the speed with which the new digital asset futures products reach the market. As institutional interest grows, regulatory capacity will probably determine which platforms can compete on a large scale.

    The post coinbase prepares to launch XRP futures while the expansion of derivatives Appeared First on coinjournal continues.

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