PI has shed half its value over the past seven days, signaling deepening bearish sentiment among its holders. At the time of writing, the altcoin trades at $0.72, marking a steep decline from last week’s price high of $1.67.
Technical indicators suggest that the downtrend may not be over as selling pressure remains significant.
PI Faces Heavy Selling Pressure
PI’s BBTrend remains in the red on the daily chart, confirming that bearish forces are firmly in control. Observed on a one-day chart, the indicator is currently at -19.36.
The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When BBTrend values are positive, it signals a strong uptrend, while negative values indicate increasing bearish momentum.
PI’s negative BBTrend suggests that its price consistently closes near the lower Bollinger Band, reflecting sustained selling pressure and hinting at the potential for further downside.
Furthermore, the token’s Elder-Ray Index supports this bearish outlook. At press time, the indicator returns a negative value of -0.12.
The Elder Ray Index measures the strength of buying and selling pressure in the market, using two key components: Bull Power and Bear Power.
When the index is negative, sellers dominate the market. This signals a bearish trend and hints at a continued downward momentum for PI.
Resistance at 20-Day EMA Caps Recovery Hopes
The PI token trades below its 20-day exponential moving average (EMA), which forms dynamic resistance above it. The 20-day EMA measures an asset’s average price over the past 20 trading days, giving more weight to recent prices.
When an asset trades below its 20-day EMA, recent price action is weaker than the short-term trend. This is a bearish signal indicating a lack of buying momentum.
XRP Futures are now live on the CME, marking a new era for the asset’s liquidity. This significant stamp of approval from TradFi may boost the XRP ETF’s chances of getting a green light.
ETF analysts generally believe that an XRP ETF is guaranteed now that this trading has gone live. XRP’s own price hasn’t reacted much to this development, but the news was well telegraphed and may have been priced in.
According to Ripple CEO Brad Garlinghouse, the first trades took place on Hidden Road, a brokerage platform that Ripple bought recently:
“The launch of regulated XRP Futures on the CME marks a key institutional milestone for XRP…and very excited to report that Hidden Road cleared the first block trade on the CME at the opening!” Garlinghouse claimed via social media.
Since these markets just opened, no trading data on the XRP Futures is publicly available yet. Even so, the opening came with a lot of fanfare, and XRP enthusiasts have several things to look forward to.
The advent of CME futures trading brings a few key advantages to XRP. For one, it has long been assumed that it massively boosts the XRP ETF’s chances of success.
According to Nate Geraci, a popular ETF analyst, SEC approval is now “only a matter of time.” Odds of success remain over 80% on Polymarket, but today’s developments haven’t boosted them.
Is XRP a security or a commodity? Although it’s generally treated like a commodity, one reclassification could seriously gunk up the ETF proceedings.
For now, XRP Futures are live on the CME, and this is a significant milestone. To be fair, the price of XRP hasn’t increased much yet, but this date was announced well in advance.
In any event, this development is focused on long-term growth, introducing new liquidity and institutional exposure, and laying more foundations for eventual ETF recognition.
Bitcoin showed signs of potentially forming a new all-time high earlier today but slipped back toward key support. Despite this, the intraday rise sparked bullish sentiment among altcoins.
BeInCrypto highlights three altcoins that, alongside major upcoming developments, are essential for investors to watch closely.
Maker (MKR)
MKR price dropped 12% over the past week but may rebound with the upcoming Phase One deployment of the MKR to SKY upgrade starting May 19. This transition, part of Maker’s rebranding to Sky, aims to complete its ecosystem transformation and attract investor interest.
The approval of the Executive Vote will enable SKY as the governance token of the Sky Ecosystem. This strategic shift could drive MKR’s price recovery to $1,894, potentially pushing further toward the key resistance level at $2,188, signaling renewed bullish momentum in the market.
However, if MKR falls below the support level of $1,655, it risks dropping to $1,555 or further down to $1,325. Such a decline would invalidate the bullish outlook, signaling increased selling pressure and a possible extended downturn.
OFFICIAL TRUMP (TRUMP)
TRUMP price remains subdued due to low volatility, but bullish market signals prevent a decline. The Ichimoku cloud below the candlesticks supports this stability, indicating potential for steady price action amid broader positive trends.
OFFICIAL TRUMP token anticipates a major boost on May 22, the Day of the TRUMP Dinner, where the top 220 TRUMP holders will join the US President in Washington D.C. This could spark significant interest and price movement, as holders often respond strongly to actions linked to the US President.
This update could push the TRUMP price to surpass resistance levels at $13.36 and $14.53, targeting $17.14. However, a break below support at $12.18 could trigger a fall to $10.29, negating the bullish outlook and causing a notable price drop.
Floki (FLOKI)
FLOKI is attempting to recover from recent 21% losses after failing to break the $0.000113 resistance. The Parabolic SAR above the candlesticks indicates potential downward pressure, suggesting a possible price decline for the meme coin in the near term.
The upcoming BADAI airdrop, delayed since February, could positively impact FLOKI’s price. Investors eagerly awaiting the event may drive buying momentum if any favorable updates emerge, potentially offsetting bearish signals and supporting price stability.
If FLOKI surpasses the $0.000100 mark, it could challenge the $0.000113 resistance and trigger an uptrend. Conversely, a break below $0.000090 support may lead to a decline toward $0.000071, negating the bullish outlook.
Binance Alpha, the platform dedicated to early-stage crypto projects by the global cryptocurrency exchange Binance, has announced the listing of Xterio (XTER). Despite the news, the token’s price fell by double digits.
Moreover, the exchange stated that it will list SOON (SOON). The trading for this token is set to begin on May 23, 2025.
The funds were dedicated to accelerating game creation, supporting the integration of AI technologies, and facilitating the launch of Xterio’s tokens to expand its gaming ecosystem.
Notably, XTER’s latest listing also includes an airdrop on Binance Alpha. According to a May 19 post on X (formerly Twitter), eligible users can claim 294 XTER tokens starting at 8:00 UTC on May 19, via the Alpha Event page.
“Users need to confirm the claim on the Alpha Events page within 24 hours (before 8:00 UTC on May 20, 2025), otherwise it will be deemed that users have given up claiming the airdrop,” the announcement read.
To qualify, users must have accumulated at least 194 Binance Alpha points. In addition, claiming the airdrop requires spending 15 Binance Alpha points, which will be deducted from the user’s balance.
Nonetheless, the listing did not have a positive impact on the price. BeInCrypto data showed that XTER dipped 15.8% over the past day. At the time of writing, it was trading at $0.28.
Meanwhile, in another post on May 19, Binance Alpha also revealed the addition of SOON tokens.
“Get ready! Binance Alpha will be the first platform to feature SOON (SOON)! Trading will open on May 23,” Binance posted.
Like XTER, SOON will be distributed to eligible users with Alpha points. However, the exchange is yet to reveal the eligibility requirement. The airdrop event page and detailed activity rules will be published on May 23.
The SOON token serves as the native utility token of the Solana Optimistic Network (SOON) ecosystem, a high-performance Layer 2 (L2) blockchain platform.
In fact, the system has significantly fueled activity. BeInCrypto reported that the introduction of Binance Alpha Points triggered a surge in trading volume. According to the latest data from Dune, the cumulative volume has reached approximately $12 billion, with total transactions exceeding 25 million.
Bitcoin (BTC) started the week with a pullback after testing the $105,000 milestone. As the correction continues, crypto airdrops provide a getaway opportunity for investors to join promising projects early.
This week’s top three crypto airdrops comprise Hedra, OneFootball, and Sonic, projects supported by strong funding, backers, and engaging participation methods.
Hedra
Hedra is one of the crypto airdrops this week. It is a blockchain service focused on decentralized identity and data sovereignty. The project aims to empower users with control over their digital assets.
Though not officially confirmed, its potential airdrop sparks interest due to Hedra’s novel approach to privacy and interoperability. The interest comes after the project raised $42 million from backers such as Andreessen Horowitz (a16z), Index Ventures, and Abstract Ventures.
On May 15, Hedra raised a $32 million investment, bringing its valuation to $200 million.
“We’re excited to share that Hedra has raised a $32 million Series A led by a16z, with Matt Bornstein joining the board. Existing investors, including a16z speedrun, Abstract, and Index Ventures, are also participating in the round,” Hedra Labs shared on X (Twitter).
Crypto participants should monitor Hedra’s testnet activities, engage in community tasks, and hold compatible wallets to maximize eligibility. Eligibility also entails interacting with the project by creating graphic content with AI.
According to Cryptorank.io, when they sign up, Hedra users get 300 credits to spend on creating pictures and videos.
Sonic
Sonic, a Layer-1 blockchain (formerly Fantom), will offer a confirmed airdrop of 190.5 million S tokens starting June 2025. This comes after the project raised $101.54 million from backers such as Galaxy, Hashed Fund, Arrington XRP, Softbank, Aave, and Signum Capital.
The airdrop distributes 25% of tokens immediately, with 75% vesting over 270 days via NFT airdrops. Recipients can trade these later or burn them for early access.
Sonic also announced the Sonic Shards NFT mint to users collecting shards deemed eligible for mint. The project is also running an active campaign with points farming.
“Shards. If you know, you know,” wrote Sonic Labs in a post.
Sonic airdrop farmers should track points via Sonic’s dashboard and engage in testnet tasks or Sonic Arcade.
BeInCrypto data shows Sonic’s S token was trading for $0.48897, down by over 4% in the last 24 hours.
OneFootball
Another crypto airdrop to watch this week concerns OneFootball, a blockchain-based platform for football fans. It offers rewards via its OFC token and comes after a $307 million capital raise.
Project backers include Union Square, Dapper Labs, Adidas, and Animoca Brands. OFC’s airdrop is in its second season and emphasizes fan engagement.
“Introducing OFC: Powering OneFootball on Base. We’re excited to announce OneFootball Credits ($OFC), the official token of OneFootball! Launching as an ERC-20 token, OFC operates on both Ethereum and Base,” OneFootball Club announced.
OneFootball’s airdrop campaign involves earning BALLS by completing daily check-ins, engaging social media, and playing games like OFC Champion.
Since the Pi Network mainnet launched on February 20, it has made headlines for its ambitious goals. Yet, it has also faced substantial criticism. The underwhelming price performance and lack of DApps, among other issues, have raised questions about Pi Network’s ability to meet the expectations of its reported 60 million users, referred to as Pioneers.
Below are five key areas of underperformance that emerged as focal points for observers in early 2025.
1. Pi Network’s Lack of Binance Listing
Pi Network’s community has been vocal in its push for a listing on major exchanges like Binance. In fact, 86% of participants voted to list Pi Coin (PI) in a February community vote.
Despite this show of support, Binance has not listed PI. On May 15, the exchange posted its logo on X (formerly Twitter) featuring several mathematical symbols, including π. The post sparked speculation among Pioneers, but no official listing announcement followed.
The absence of a listing has led to renewed scrutiny over Pi Network’s credibility. Notably, Binance applies a rigorous evaluation process before listing any asset.
The exchange considers user adoption, business model viability, relevance, tokenomics, technical security, team background, and compliance with regulatory standards. The decision not to list Pi Coin may indicate that the project has yet to meet one or more of these critical benchmarks.
“I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. It is likely that the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT,” Pioneer Dr. Altcoin posted on March 22.
Coinbase, another top exchange, has also refrained from listing Pi. This has further fueled disappointment among Pioneers about the token’s potential for mainstream adoption. Nonetheless, Pi Coin remains available for trading on HTX, Bitget, MEXC, and OKX.
2. Pi Coin Price Fails to Meet Expectations
Pioneers have been actively mining Pi Coin for around six years, anticipating major gains. Yet, its price was a major letdown for many. At launch, Pi Coin was listed on OKX with a floor price of just $2. This was way below its IOU trading value.
The underwhelming debut worsened as PI dipped below the $1 mark shortly after listing. Although the token rebounded to an all-time high of $3 in late February, the rally was short-lived. PI soon resumed its downtrend, falling below $1 again by late March.
Last week, the level was briefly reclaimed as support. Yet once more, PI failed to hold above it. These declines came despite some bullish catalysts.
The launch of the Pi Ventures Fund was followed by a sharp price drop rather than a recovery. Additionally, Pi Network founder Nicolas Kokkalis made a rare public appearance at Consensus 2025 on May 16.
Many hoped it would restore investor confidence. Instead, the token plunged. BeInCrypto data showed that PI dipped 42.6% over the past week. At press time, Pi Coin’s price was $0.7, down 3.1% over the past day.
While the official announcement outlines a funding pool of up to $100 million, Pi Network Foundation retains full discretion over the deployment of these funds.
“The Pi Foundation is not obligated to invest the entire $100 million, based on the quality of applicants and number of startups accepted into the initiative,” the blog read.
The initiative also allows for phased investments over time. Additionally, the Foundation can discontinue funding at any stage. This condition has not been well received by some in the community, who expected more immediate and guaranteed support for ecosystem development.
“The $100M promise investment will discontinue from time to time if they don’t see any investors coming or having no impact at all LOL,” a user wrote.
4. Pi Network’s Missing Decentralized Apps (dApps)
The concerns extend beyond the fund’s stability. Dr. Altcoin alleged that the team is using the fund to build DApps that should have already been completed.
He explained that one of Pi Network’s mainnet launch conditions was deploying 100 live dApps. As of May 2025, this promise remains unfulfilled, with most dApps still missing from the ecosystem.
“After 6 years of waiting, why isnt anyone asking the real question: Where are the 100 Dapps we were promised?” the analyst stated.
The shortfall has left many in the community questioning the network’s readiness and ability to support a functional ecosystem.
5. Pi Network’s Roadmap Issues
Another major concern is the lack of transparency. Pi Network unveiled a three-phase roadmap for its mainnet migration in April 2025, but the absence of specific timelines has frustrated users.
A report from BeInCrypto highlighted the community’s backlash, emphasizing that the roadmap did not include estimated dates or an audit process to address discrepancies in historical mining data. This has further deepened distrust in the project’s leadership.
That’s not all. Other issues, such as delays in KYC and challenges in migrating tokens to the Pi Network mainnet, have also been prevalent.
Thus, Pi Network’s first three months post-launch have been marked by unmet expectations and growing disillusionment among its Pioneers. As the network navigates these setbacks, its ability to deliver on its ambitious vision will be critical to restoring confidence in the months ahead.
Ripple has announced a partnership with two Dubai-based financial institutions, Zand Bank and Mamo. The collaboration will enable them to leverage Ripple’s cross-border payment technology.
This marks the company’s major expansion into the region, where efforts to adopt blockchain technology are growing to fuel economic development.
How Ripple’s Tech is Revolutionizing Payments in Dubai
According to the official press release, artificial intelligence (AI)-driven Zand Bank and fintech firm Mamo will utilize Ripple Payments. This blockchain-powered solution facilitates 24/7 cross-border transactions. By streamlining settlement processes, it is designed to enhance efficiency and speed.
Ripple Payments offers near-global reach, with access to over 90 payout markets worldwide. The platform handles more than $70 billion in transaction volume annually, highlighting its scalability and reliability.
“As a pioneering financial institution with a full-fledged banking license, Zand Bank is paving the way for a stronger digital economy by offering innovative financial products as well as AI and blockchain solutions alongside our institutional-grade digital asset custodial services. Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology,” Chirag Sampat, Head of Treasury and Markets at Zand Bank, commented.
Zand Bank, the UAE’s first digital-only bank, also revealed plans to launch a stablecoin pegged to the UAE dirham (AED). This initiative aims to bolster local digital payment capabilities, offering a stable and efficient transaction medium within the UAE’s growing digital economy.
Mamo, a fintech firm focused on simplifying payments for businesses and consumers, will similarly benefit from Ripple’s technology to expand its service offerings.
“The UAE is on an incredible growth path, with over a million businesses expected to call it home by 2030. At Mamo, we’re proud to be at the forefront of this journey, making global payments simpler and more accessible for everyone,” Mamo’s CEO, Imad Gharazeddine, said.
Notably, Ripple’s partnership builds on its earlier strategic move to secure a license from the Dubai Financial Services Authority (DFSA). The March 2025 approval allows the company to offer crypto payment services within the Dubai International Finance Centre (DIFC).
This regulatory milestone complements Ripple’s existing footprint across key markets, including the United States, Brazil, Mexico, Australia, and Switzerland. With over 60 regulatory licenses and registrations worldwide, Ripple continues strengthening its position as a trusted partner for financial institutions.
Despite its global expansion, Ripple faces ongoing challenges. Last week, Judge Analisa Torres denied a joint motion from Ripple and the US Securities and Exchange Commission (SEC) in their long-running legal dispute, citing procedural concerns.
Crypto inflows hit $785 million last week, pushing year-to-date (YTD) totals to $7.5 billion. This marks a full recovery from the outflows seen between February and March.
Ethereum stood out amid the positive flows into digital asset investment products. The Pectra upgrade and the network’s leadership changes drove the changing sentiment.
Pectra Upgrade Influenced Last Week’s Crypto Inflows
The latest CoinShares report indicates crypto inflows totaling $785 million recorded for the week ending May 17. While it represents a slight drop from the previous week’s $882 million, it marks the fifth week of consecutive positive flows.
These positive crypto inflows come as markets continue to shrug off Trump tariffs. Accordingly, the US topped the positive flows. It beat Germany and Hong Kong with $681 million inflows against $86.3 million and $24.2 million, respectively.
More closely, Bitcoin (BTC) recorded a slight drop relative to last week. CoinShares’ researcher, James Butterfill, ascribes the retraction to US economic indicators.
“Bitcoin attracted $557 million in inflows, a decrease from the prior week, likely due to continued hawkish signals from the US Federal Reserve. Short-bitcoin products saw a fourth consecutive week of inflows, totaling $5.8 million, reflecting investor positioning amid recent price gains,” read an excerpt in the report.
Nevertheless, Ethereum saw the highlight of last week’s crypto inflows. According to the CoinShares report, crypto inflows into Ethereum reached $205 million. This was a notable climb from the previous report’s $1.5 million.
Butterfill attributes the optimism to Ethereum’s Pectra Upgrade and the subsequent ascension of Tomasz Stańczak as the new co-executive Director.
“Ethereum was the standout performer, with US$205m in inflows last week and $575 million YTD, indicating renewed investor optimism following the successful Pectra upgrade and the appointment of new co-executive director Tomasz Stańczak,” Butterfill wrote.
As it happened, Pectra Upgrade hit mainnet on May 7, marking the network’s biggest change since the 2022 Merge upgrade. On the one hand, EIP‑7251 lifts the validator cap to 2,048 ETH. Meanwhile, EIP‑7702 brings smart‑wallet functionality and a major step toward account abstraction.
In the same way, Tomasz Stanczak, recently appointed as co-Executive Director of the Ethereum Foundation (EF), has a deep history in Ethereum’s core development. His focus on statelessness to enhance Ethereum’s scalability and decentralization aims to reduce node storage needs.
However, strong statelessness was deprioritized due to complexity and focus on rollups, though Stanczak’s leadership may shift this focus.
“The Ethereum Foundation is thrilled to welcome Hsiao-Wei Wang and Tomasz Stanczak as co-Executive Directors. This new leadership structure marks an exciting new chapter in the Foundation’s evolution as we continue to support a growing Ethereum ecosystem,” the EF said in March.
As Ethereum and other altcoins recorded positive flows, Solana bucked the trend. It posted up to $0.89 million in crypto outflows. This aligns with a recent trend of declining TVL (total value locked), plunging 64%.
Japanese firm Metaplanet saw its stock price surge to three-month highs on Monday after announcing its latest Bitcoin (BTC) acquisition. The company added 1,004 BTC to its treasury, marking its third significant purchase this month.
A week earlier, it had acquired 1,241 BTC, surpassing El Salvador’s reserves. Previously, on May 7, Metaplanet made a comparatively smaller purchase of 555 BTC.
“From July 1, 2024, to September 30, 2024, the Company’s BTC Yield was 41.7%. From October 1, 2024, to December 31, 2024, the Company’s BTC Yield was 309.8%. From January 1, 2025, to March 31, 2025, the company achieved a BTC Yield of 95.6%. Quarter to Date, from April 1, 2025, to May 19, 2025, the Company’s BTC Yield is 47.8%,” the statement read.
The company now holds a total of 7,800 Bitcoin, with an aggregate investment of 105.38 billion yen, or roughly $712.5 million. The average historical purchase price across its Bitcoin holdings stands at 13.5 million yen per BTC, approximately $91,343 per coin.
Meanwhile, following the news, Metaplanet stock, 3350.T, appreciated by 12.6%, according to Yahoo Finance data. At press time, its trading price was 702 yen ($4.8), marking highs last seen on February 13.
Over the past month alone, 3350.T’s value has increased by 101.7%, greatly benefiting from Bitcoin’s latest rally. In fact, since adopting a Bitcoin reserve strategy, the stock prices have increased over 15-fold.
The firm’s financial performance further supports this upward trajectory. In its Q1 FY2025 earnings report, Metaplanet disclosed revenues of $6 million, with 88% derived from Bitcoin options trading.
This highlighted the important role BTC plays in its financial success. As the firm continues integrating Bitcoin into its economic strategy, it is setting a new benchmark for corporate crypto adoption in the region.
Bitcoin has faced notable volatility in recent days, with strong market growth on Sunday, followed by a complete wipeout on Monday.
Despite these fluctuations, the hope for a recovery remains, fueled by FOMO (fear of missing out) and greed-driven investors. These sentiments could play a crucial role in Bitcoin’s price movement.
Bitcoin Investors Are Bullish
The continued decline in exchange balances signals a pattern of accumulation. Over the past week, more than 27,976 BTC, worth over $2.88 billion, was purchased by investors. This has reduced the available supply to approximately 3 million BTC.
The idea that Bitcoin has not yet reached its all-time high (ATH) encourages further investment, as many believe the current price levels represent an opportunity that won’t last long. FOMO remains a significant driver, as retail and institutional investors alike bet on Bitcoin’s future potential.
The IOMAP (In/Out of the Money Around Price) indicator suggests that Bitcoin has strong support around the $102,886 to $99,894 range, where investors have accumulated over 398,590 BTC worth more than $41 billion. This makes the region a strong buying zone, with many investors holding onto their positions in anticipation of Bitcoin’s next upward movement.
A decline below this support is unlikely because investors are waiting for a price increase rather than selling. In addition to the strong accumulation zone, the general market sentiment is bullish. The ongoing support at these levels reinforces the view that Bitcoin is positioned to continue its rise.
Bitcoin is currently trading at $102,907, just above the critical $102,734 support level. Despite today’s 3.3% drop, further price declines seem unlikely due to the strong demand zone just below this level. Buyers appear willing to step in at these price points, suggesting stability in the short term.
With Bitcoin having briefly risen to $107,108 earlier in the day, it seems likely the cryptocurrency will recover its losses. Investor accumulation is expected to push Bitcoin higher, and it could breach the $105,000 level again, forming consolidation above the $102,734 support. This would set Bitcoin on course for continued growth, bringing it closer to its ATH of $109,588, which it stands 6.5% away from.
However, the bullish outlook could be invalidated if long-term holders (LTHs) decide to sell off their positions to secure profits. If this happens, Bitcoin’s price could slip below the critical $102,734 support, potentially bringing it down to the $100,000 range.
