Pi Network Futures Live on Kraken Pro: Will the Price Hit $1?

ProShares has announced May 14 as the new target date for launching its futures-based XRP exchange-traded fund (ETF), as per a recent post-effective amendment. This comes after speculation and misleading reports previously suggested an April 30 launch, which was later denied.

ProShares Sets Date for XRP ETF Launch

According to updated filings with the U.S. Securities and Exchange Commission (SEC), ProShares is now aiming to launch its futures-based XRP ETFs on May 14. The document is a procedural update and does not confirm final SEC approval.

The earlier filing led to confusion across financial media and social networks. Some sources incorrectly reported that the SEC had allowed the ETF to begin trading on April 30.

This led to a short-lived price jump for XRP. However, it was later clarified that no such approval had been granted.

SEC Review Still Ongoing for Spot ETFs

In addition to the futures-based ETF, ProShares has submitted a filing for an actual XRP ETF. Franklin Templeton, Bitwise and Grayscale are among other companies that have applied for such funds as well.

Out of all the applications submitted, Franklin Templeton’s application can be regarded as one of the most popular. On April 29, the SEC extended its decision on Franklin Templeton’s proposal until June 17. The firm registered the XRP ETF in March after registering a similar request for the Solana ETF.

Eleanor Terrett, a journalist following ETF developments, wrote on social media that,

“For the $XRP spot ETF, James [Seyffart] is eyeing mid-October, around the 18th, as a final decision deadline.”

Broader Interest from Major Asset Managers

Other large asset managers like BlackRock and Fidelity have not sought XRP ETFs yet. However, they are rumored to come to the party later in the year 2025 if the market demands for the competition.

While ProShares and Franklin Templeton have received most of the attention, the US SEC has also granted extension on other ETF filings. They include Bitwise’s proposed launch of Dogecoin ETF and Fidelity’s attempt to introduce staking into its Ethereum spot ETF.

The SEC is required to issue a final decision on ETF proposals within 240 days from the time they are officially published in the Federal Register. Consequently, Bloomberg has reported that several cryptocurrency-related ETF decisions may be finalized in the fourth quarter of the year.

Regulatory Environment and SEC Leadership

The recent changes in SEC leadership may affect how quickly the agency acts on crypto ETF applications. Earlier this month, Paul Atkins officially became the US SEC Chair. Atkins is known for his pro-crypto stance and was confirmed with support in the Senate.

Under previous leadership, including former Acting Chair Mark Uyeda, the SEC took a cautious approach to crypto ETFs. The agency extended review deadlines for multiple applications.

Despite delays, the current regulatory framework suggests that several key decisions on XRP and other crypto ETFs will likely come by October. Until then, futures-based products like those proposed by ProShares may enter the market earlier.

The post Proshares XRP ETF Potential Launch Date Revealed, Here’s When appeared first on CoinGape.

Shiba Inu price looks prime for a parabolic rally amid a looming supply crunch and a recovery across the meme coin sector. In the last seven days, the total meme coin market cap has gained nearly 10% from $48 billion to $52 billion at press time. Amid these bullish tailwinds, can SHIB price reach the highly anticipated psychological level of $0.001? 

Shiba Inu Price in Focus Amid Mysterious 1B SHIB Burn 

The Shiba Inu burn rate skyrocketed recently after an unknown user burned 1,000,000,000 SHIB tokens. Data from Shibburn shows that this user sent these tokens to the burn address in a single transaction. Yesterday, another address also sent 23M SHIB to the burn address.

One of the main factors contributing to the high burn rate is a spike in activity on the Shibarium network. DeFi tracking tool DeFiLlama shows that in just one week, Shibarium’s TVL has increased by over $1M and recently reached its highest level since late January. 

As Shibarium records an uptick in activity, the burn rate will continue to surge and bring down SHIB’s supply. This will bode well for Shiba Inu price. 

SHIB Supply Crunch Looms 

Besides the token burns, Shiba Inu supply on exchanges has also reached its lowest level in four years. According to Santiment, SHIB’s exchange experienced a sharp decline earlier this year, and only 100.42 trillion tokens, valued at around $1.3 billion are available on exchanges. 

The amount of SHIB held on exchanges is only 16% of the meme coin’s circulating supply of 589 trillion tokens. This decline indicates that many SHIB holders are not holding their tokens on exchanges, which highlights a lack of intent to sell.

As this supply continues to fall, it might cause a supply crunch where demand outpaces the supply. This could spark a parabolic rally for Shiba Inu price. 

Can Shiba Inu Reach $0.001? 

The $0.001 price target is realistic for Shiba Inu as that would give it a $589B market cap. One of the factors that could aid such a rally is a gradual increase in the SHIB burn rate. 

Additionally, increased activity on Shibarium could sustain a long-term uptrend. Early Bitcoin advocate Davinci Jeremie previously stated that Shibarium will unlock SHIB’s potential. 

The possible launch of a spot SHIB ETF as highlighted by SHIB marketing executive LUCIE could also drive a price rally to $0.001. If Shiba Inu outperforms the rest of the crypto market and attains this price target, it will not only be the largest meme coin but also the largest altcoin. 

Shiba Inu Price Analysis 

Shiba Inu price today trades at $0.0000135 with a 2.5% gain in 24 hours, The meme coin is on the verge of a breakout after breaking above the upper trendline of a descending parallel channel, indicating that bears are losing control as buying pressure rises. 

The rising RSI line also supports this bullish Shiba Inu price prediction. This indicator stands at 51, which is a neutral level. However, the making of higher lows shows that selling pressure is easing. 

Shiba Inu faces two key resistance levels which, if breached, will confirm a bullish reversal. One of these levels is the 50-day SMA of $0.0000141. If the meme coin flips this resistance, it could trigger a 36% surge to the 200-day SMA of $0.000019. 

In summary, Shiba Inu price is likely to break crucial resistance at the 50-day SMA, which will confirm a reversal from bearish to bullish trends. The increasing burn rate caused by an uptick in activity on Shibarium as well as the falling supply on exchange could trigger a supply crunch. This could precede a parabolic rally for SHIB. 

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Pi Network price has left investors puzzling over a steady decline that saw Pi Coin nearly sink to $0. 3. To prevent a repeat of the steep drop, the pseudonymous Satoshi Nakamoto is making a case for a decentralized market stabilization mechanism for the Pi Network.

A Community-Driven Liquidity Pool For The Pi Network

The pseudonymous Satoshi Nakamoto theorized on X that a community-driven liquidity pool (CDLP) will provide a range of benefits for Pi Network. According to his post, CDLP will operate as a decentralized market stabilization mechanism focused on Pi Coin price performance.

The plan, leaning on the Dollar-Cost Averaging (DCA) buying strategy, will require participants to commit to purchasing a fixed amount of Pi monthly. Each user participating in the CDLP will have full control of the Pi coins in their wallets without the need for any intermediaries.

Per Nakamoto, users purchasing Pi coins each month will form a “massive” CDLP capable of preventing steep price drops. The CDLP achieves this by increasing Pi liquidity, reducing circulating supply while demand continues to increase.

“This pool increases market depth, cushions sharp price drops, and promotes a more stable price structure,” said Nakamoto.

Nakamoto says the CDLP is not a short-term strategy to prop up Pi Network as it advocates for long-term holding. In the short term, Dr Altcoin wants Pi Network to burn tokens as a near-term solution to falling prices.

The Entire Ecosystem To Benefit From CDLP

Apart from stabilizing the Pi Network price, the CDLP will have an impact on the broader ecosystem. First, Nakamoto says developers building projects will have a stable environment without the hassle of sharp price drops. The Pi Network has previously come under fire after PiDAOSwap launched NFTs on BSC over lengthy KYB delays

Furthermore, a stable price will be an incentive for businesses to accept Pi as a payment mechanism. Nakamoto says Pi holders will be rewarded by future decentralized applications (DApps) building on the network.

“This doesn’t just stabilize the price – it transforms Pi’s visibility, strengthens the community, and attracts more developers and real-world use cases,” said Nakamoto.

Nakamoto says the CDLP is viable and sustainable as it does not require whales to support the price. Nakamoto claims that a $10 monthly commitment to buy Pi will result in a “steady $100 million inflow” into PI that is user-controlled without third-party risks.

Centralized exchanges like Binance sidelining Pi in listing processes have affected community sentiments, triggering a bearish sentiment for Pi.

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