Crypto.com has unlocked a major milestone in Europe, a license that allows it to offer derivatives and securities within the European Economic Area (EEA.) The company shared on Wednesday, May 21, that it has secured a Markets in Financial Instruments Directive (MiFID) license after receiving regulatory go-ahead for its acquisition of Cyprus-based investment firm A.N. Allnew Investments Ltd. This approval came directly from CySEC, Cyprus’ financial watchdog. What does this mean for Crypto.com? The new license means Crypto.com can now offer crypto derivatives, securities, and other investment products to eligible users within the EU. The move opens up the European market for the exchange, allowing it to operate without legal repercussions. The license also reflects Crypto.com’s commitment to improving ties with regulators. Earlier this year, the trading platform received its Market in Crypto Assets (MiCA) license, which allowed it to offer its services to European customers. While MiCA governs crypto… Read More at Coingape.com
While investors are bracing themselves for a Pi Network Price pump, one expert has predicted a start date for the rally. Cryptocurrency analyst Dr Altcoin says Pi Coin price will spike during the upcoming Consensus Summit, with Pi Network founder billed to deliver a keynote address.
Pi Network Price Eyes Massive Rally In May
According to an X post, cryptocurrency analyst Dr Altcoin is forecasting the start of a Pi Coin rally in mid-May. Dr Altcoin notes that investors can expect the start date of the Pi Network price during the Consensus Summit scheduled for May.
Dr Altcoin’s predictions differ from previous projections that tip the start of a Pi Coin rally toward late August. Investors previously hinged their hope for a price rally after the end of the Pi unlocking event, set to release 212 million Pi Coins.
However, Dr Altcoin is predicting the rally to begin much earlier in May, triggered by the momentum around the Consensus event. Dr Altcoin has previously revealed why Consensus 2025 will be pivotal for the Pi Network, given the sheer volume and calibre of attendees.
“I am fairly confident that the price pumping of Pi might start during the Consensus Summit (May 14-16, 2025) rather than at the end of August when Pi unlocking significantly reduces,” said Dr Altcoin.
Several Factors May Delay The Start Date Of The Price Rally
Dr Altcoin’s prediction for the launch of the Pi Network price rally in May faces a raft of challenges. Right out of the bat, the Pi Core Team (PCT) is racing against the clock to approve KYB applications before the start of Consensus 2025.
Furthermore, Dr Altcoin says the launch of decentralized applications (DApps) on the network before Consensus 2025 will support a price rally. While the PCT achieves the milestones before Consensus 2025, other external factors are angling to adversely affect Pi Network prices.
Dr Altcoin has raised alarm over shady activity on Banxa that may trigger artificial volatility for Pi Coin Price. Keen on playing its part to stabilize prices, the PCT has begun purchasing Pi Coins on centralized exchanges, mopping up over 48 million coins.
Currently, Pi Network trades at the $0.6 mark, holding the price level for over a week as investors scan the charts for signals of a seismic rally.
Furthermore, Dr Altcoin is hinging his resolve for a rally on seven Pi Network pros, including accessibility and sustainability perks. The cryptocurrency expert name-checks its security features, low gas fees, and regulatory compliance.
Ethereum price fell below $2,000 on Thursday, March 28, as the crypto market reeled amid intense volatility and bearish pressure. This decline has shifted the attention of traders from ETH to Ethereum rivals that can record significant gains in price.
Ethereum price trades at $1,906 at press time, marking its lowest level in more than a week amid US PCE inflation. On the weekly chart, ETH had formed a triple-top pattern, which suggests that the price is about to make a sharp reversal from an uptrend to a downtrend.
ETH price has been rejected again at the neckline of this triple top, which means that the bearish pressure is strong. If the downtrend progresses, it is possible that Ethereum will fall to $1,520.
ETH/USD: 1-week Chart
Besides the weak retail demand that is forcing Ethereum price to drop, institutions also appear uninterested in accumulating during the dip. Data from SoSoValue shows that spot ETH ETFs have experienced three weeks of persistent outflows.
Amid these bearish headwinds, crypto traders are looking for the best Ethereum rivals that they can buy.
Top 3 Ethereum Rivals to Buy
The top 3 Ethereum rivals to buy after ETH price dropped below $2,000 include Ripple (XRP), Solana (SOL) and Cardano (ADA).
Ripple (XRP)
The top Ethereum rival to buy today is XRP. This altcoin shows signs of outperforming ETH after the XRP/ETH ratio surged to its highest level since November 2020. Additionally, this ratio is at the upper Bollinger band, which further suggests a bullish outlook, which could cause a breakout to the all-time high price of 0.0036.
XRP/ETH: 1-week chart
Besides this rising ratio, other factors suggest that XRP can outperform ETH. XRP is at a pivotal point after the Ripple lawsuit was dismissed. The Ripple army is optimistic that the end of the case will attract interest from institutions through spot ETFs. On Polymarket, the odds of an XRP ETF being approved by the end of the year have soared to 85%.
Solana (SOL)
Solana is another Ethereum rival to buy for significant gains. Just like XRP, Solana has outperformed ETH in recent months, with catalysts like a spot ETF application by Fidelity and adoption by BlackRock for the BUIDL fund set to drive further gains.
The daily price chart shows a looming Solana bullish breakout that could lead to gains. This happened after SOL touched resistance at the upper trendline of a falling parallel pattern. If the MACD line crosses above the zero line to confirm a bullish momentum, it could lead to SOL escaping this bearish pattern.
SOL/USDT: 1-day Chart
Cardano (ADA)
The other Ethereum rival that traders should consider buying today for significant gains is Cardano. The Cardano network is recording a significant uptick in global adoption after TapTools revealed that it has surpassed 5.25 million wallets.
Cardano price is currently trading within a consolidation range. However, the AO is rising, suggesting that bulls might regain control. If buyers break ADA price from this consolidation zone, it might spark a rally towards the 161.8% Fibonacci level of $1.54.
ADA/USDT: 1-day Chart
Final Thoughts on Ethereum Rivals to Buy
Ethereum price has dropped below the critical support level of $2,000, suggesting that bearish headwinds might push the price down further. Amid this drop, the top Ethereum rivals that traders can buy today include XRP, Solana, and Cardano.
