Pi Network has recently witnessed a 12% price rally, briefly reaching $0.65 during intra-day trading, only to fall back down to $0.61. Despite this uptick, the altcoin has struggled to break free from consolidation, as weak investor sentiment continues to weigh heavily on its price.
A glimmer of hope comes from an ecosystem announcement scheduled for May 14, which could offer some positive news and potentially trigger a more substantial rally.
Pi Network Is Losing Investor Interest
Investor sentiment surrounding Pi Network has been weak for the past month, with little to no interest from the broader market. This lack of enthusiasm has hindered the altcoin’s ability to break free from consolidation and achieve a sustained price increase.
This investor apathy has created a significant challenge for Pi Network, as it lacks the backing needed to push its price higher. While the market has shown some bullish tendencies, especially following the US Federal Reserve’s decision to keep interest rates unchanged, Pi Network has struggled to translate this into sustained momentum.
The overall macro momentum of Pi Network shows mixed signals. On the one hand, the MACD (Moving Average Convergence Divergence) indicator barely exhibits bullishness, with the histogram showing small green bars. While this suggests slight positive momentum, it is not enough to trigger a rally.
This indicates that the market’s broader bullish cues are preventing a bearish crossover, helping to keep Pi Network’s price afloat despite investor hesitation. However, the lack of strong bullish signals from the MACD means that Pi Network is still struggling to gain significant upward traction.
Pi Network’s price grew by 12% over the last 24 hours, briefly reaching $0.65 before falling back to $0.61. This uptick was fueled by broader market bullishness following the US Federal Reserve’s decision to keep interest rates unchanged. However, the altcoin has struggled to maintain its gains, indicating a lack of strong support from investors to push the price higher.
Pi Network continues to consolidate, stuck between $0.61 and $0.57. This ongoing range-bound movement suggests that the altcoin lacks sufficient momentum to break out of its consolidation phase. The price will likely continue moving within this range unless both market and investor support are bolstered, which remains uncertain at this point.
On the other hand, Pi Network could invalidate the bearish outlook if it secures $0.61 as support and begins to rise towards $0.71. Successfully breaching $0.71 could instill confidence in investors, potentially triggering a more substantial rally. However, without a clear shift in sentiment, the price may continue to struggle.
Welcome to the US Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to see why Standard Chartered thinks XRP could soon leapfrog Ethereum, how Tether’s institutional pivot might reshape the stablecoin market, and how players like BlackRock, Galaxy Digital, and the Federal Reserve could shape crypto’s next chapter.
Standard Chartered says XRP Set to Outperform, Could Overtake Ethereum by 2028
As global trade tensions intensify, Standard Chartered sees a silver lining for crypto investors, urging them to focus on long-term winners poised to benefit from the disruption.
“Tariff noise creates the opportunity to look for long-term value/pick winners in Digital Assets for the next leg higher. Today we add XRP to that list of winners (BTC and AVAX other identified winners, ETH identified loser). XRP’s core use is as a cross-border and cross-currency payments platform. That part of Digital Assets is undergoing a shift higher in volumes, something we see continuing. By the end of 2028 we see XRP’s market cap overtaking Ethereum’s. That will make XRP the second largest (non-stablecoin) Digital Asset at that time. Keep looking for winners and HODLing those you already own”, Geoff Kendrick, Standard Chartered’s Head of Digital Asset Research, in an email to BeInCrypto.
Kendrick also pointed to Bitcoin’s resilience as a signal of what’s to come for the broader crypto market.
“Tariff mess will be over soon, and Bitcoin’s solid performance during the noise tells us a leg higher for the asset class will follow” he said.
He also points out important points about the recent performance of XRP:
“XRP price rose 6x in the two months following Trump’s election victory, the strongest performance among the top 15 digital assets by market cap. This reflected market expectations that the SEC would drop its appeal of a court ruling concerning Ripple, as well as the potential for XRP ETFs to be approved under new SEC leadership.”
But Kendrick believes the fundamentals — not just politics — are driving XRP’s momentum.
“We think these gains are sustainable, not just because of recent leadership changes at the SEC but also because XRP is uniquely positioned at the heart of one of the fastest-growing uses for digital assets – facilitation of cross-border and cross-currency payments. In this way, XRPL is similar to the main use case for stablecoins such as Tether: blockchain-enabled financial transactions that have traditionally been done through traditional financial (TradFi) institutions. This stablecoin use has grown 50% annually over the past two years, and we expect stablecoin transactions to increase 10x over the next four years. We think this bodes well for XRPL’s throughput growth, given the similar use cases for stablecoins and XRPL.”
Tether’s Big Play: Institutional-Grade Stablecoin Targets US Market
Charles Wayn, co-founder of decentralized Web3 super-app Galxe, told BeInCrypto that:
“The news that Tether is planning to launch an institutional-grade stablecoin for the US market is fantastic for the crypto industry. Tether pioneered stablecoins with its first launch over a decade ago in 2014, and its flagship product — USDT — is now the third largest cryptocurrency in the world. Unlike its rival, USDC, USDT has never been formally audited, leading to frequent questions over its balance sheet. Nonetheless, it remains the industry’s favored stablecoin, shown by its market cap of over $144 billion, which is well over double the size of USDC’s $60 billion.”
Wayn believes this move, along with Tether’s push for transparency, positions the company as a future leader in institutional crypto adoption.
“As such, this move, combined with other recent news that Tether is seeking a full audit from a Big Four accounting firm, shows that the company is not only willing to be compliant but also be a leader in institutional adoption. While USDT sadly did not pass the EU’s directive on stablecoins under MiCA, this new product will likely be designed to pass new legislation coming from the US.”
He adds that institutional momentum — fueled by players like BlackRock — reinforces why now is a pivotal moment for stablecoins and broader market stability.
“As such, there is little doubt that USDT will work hard to launch its new product in good time. As we see huge institutions like BlackRock further entering the market with another $66 million purchase of Bitcoin last week, along with the rapid growth of its RWA BUIDL fund, institutional adoption is now taking off rapidly.”
Crypto Chart of the Day
Total Stablecoin Market Cap and BTC Price. Source: Coinglass.
Stablecoins total market cap is currently close to its all-time highs, above $210 billion.
Byte-Sized Alpha
– Analysts warn that a return to Quantitative Easing in 2025 could ignite a massive crypto rally, potentially pushing Bitcoin toward $1 million and sparking a surge in altcoins.
– Zero inflows into Bitcoin ETFs and declining futures interest hint at fading investor confidence, though rising put contracts and positive funding rates point to cautious optimism.
– Galaxy Digital secures SEC approval to reorganize and move toward a May 2025 Nasdaq listing, signaling renewed confidence in crypto amid improving US policy support.
– Binance Research shows that during tariffs, RWA tokens outperform Bitcoin, as rising macro pressures weaken BTC’s role as a diversification asset.
– MicroStrategy’s pause in Bitcoin buying last week, amid $5.91 billion in unrealized losses, signals growing caution and raises questions about liquidity, debt, and broader institutional confidence.
As publicly listed companies increasingly consider accumulating digital assets as part of their financial strategies, Bittensor (TAO) is emerging as a strong contender alongside options like Bitcoin, Ethereum, Solana, and XRP.
Experts and recent moves by companies such as Oblong and Synaptogenix reinforce the belief that TAO could become a store of value.
Which Public Companies Have Chosen Bittensor (TAO) for Strategic Reserves?
Recently, Oblong, a Nasdaq-listed IT solutions provider, announced its plan to raise $7.5 million through a private stock offering. The funds will support its digital asset and AI strategy, which is based on Bittensor.
According to a press release on June 6, the company will primarily use the money to purchase TAO tokens and to develop the decentralized AI market, including Subnet 0. This strategy aims to generate yield from holding TAO. After the announcement, Oblong’s stock jumped 12%, with nearly 2 million shares sold at $3.77 each.
In addition, Synaptogenix, another Nasdaq-listed firm, revealed its plan to initially acquire $10 million worth of TAO, more than double the company’s current market capitalization.
“Based on our initial review, we believe the fixed market supply of 21 million TAO tokens alongside rapidly increasing global demand for AI development and adaptation makes TAO a compelling cryptocurrency,” Joshua Silverman, Chairman of the Board, said.
Synaptogenix has set a long-term goal to increase its TAO holdings to $100 million. The effort is led by well-known crypto and AI expert James Altucher.
Altucher emphasized that this strategy focuses not just on potential profits from staking and token price growth. It also aims to rebrand the company’s name and stock ticker to reflect its TAO-based digital asset strategy. This demonstrates Synaptogenix’s strong belief in Bittensor’s long-term potential.
Oblong and Synaptogenix’s moves come as other companies are choosing Solana (SOL), XRP, or Ethereum as strategic reserves.
Analyst Predicts TAO Could Become a Top 3 Altcoin
Many industry experts also share a positive outlook on TAO. Their confidence is driven by the fact that Bittensor operates a token economy with a fixed supply, similar to Bitcoin, and incentivizes participation and contributions to the network.
A recent report by BeInCrypto showed that the number of subnets on TAO has reached a new all-time high. Institutional investors are also beginning to eye TAO for its staking returns.
“TAO is the only project that has the necessary ingredients to get to the level of BTC. Top 3 is inevitable,” hedge fund manager Pedro Teixeira, predicted.
According to data from CoinMarketCap, TAO is currently the top altcoin among AI tokens, with a market cap of over $3.8 billion. It also holds a leading position in Grayscale’s AI Sector. Meanwhile, AI tokens continue to be one of the most prominent themes in the market today.
At the time of writing, TAO is priced at $434, up 25% since the beginning of the month. However, to overtake XRP and become a top 3 altcoin—as Pedro Teixeira predicts—TAO’s price would need to increase fivefold.
That said, this expectation may face headwinds. Bitcoin dominance is on the rise again in June, and altcoin season has yet to arrive. Furthermore, some experts warn of risks if the trend of public crypto vehicles spreads widely to altcoins beyond Bitcoin.
