Ethereum’s Pectra Upgrade Enters Final Testing Phase – Will ETH Price Pump?

Monicah W

The post Ethereum’s Pectra Upgrade Enters Final Testing Phase – Will ETH Price Pump? appeared first on Coinpedia Fintech News

Ethereum’s long-awaited Pectra upgrade took a major step forward as its final test went live on the Hoodi test network. This marks a critical phase before the upgrade is officially launched on Ethereum’s mainnet. If all goes well, developers expect Pectra to go live in the next 30 days. With Pectra’s final test in motion, experts believe the ETH price will see a price surge. 

Pectra’s Final Test on Hoodi

The Hoodi testnet is the last of three test networks to run the Pectra upgrade. The first two tests, on Holesky and Sepolia, faced technical issues, making this final test crucial. 

Meanwhile, Ethereum developers created Hoodi to ensure all bugs were fixed and that Ethereum’s network runs smoothly before the upgrade officially launches. Thus Pectra aims to improve Ethereum’s user experience by introducing smart contract functionality to wallets. 

This means users may soon be able to pay transaction fees using cryptocurrencies other than Ether (ETH), making transactions more flexible and user-friendly.

Why Testnets Matter?

Testnets like Hoodi act as practice grounds for major blockchain upgrades. Developers use them to check for bugs and prevent any issues before launching new updates on the main Ethereum network. 

If the Hoodi test runs without problems, Pectra will be closely monitored for 30 days before its official launch.

Ethereum Price Outlook

While the network upgrade is gaining attention, Ethereum’s price has also been making waves. Last week, ETH rebounded nearly 7% from the $1,861 support level and is currently trading around $2,025.

IF it maintains this momentum, Ethereum could aim for its March 7 peak of $2,258. However, for this to happen, the Relative Strength Index (RSI) must move past 39 and cross the neutral 50 mark.

Further market sentiment is showing signs of improvement, with Ethereum’s long/short ratio reaching 1.2287, indicating that long positions are outpacing shorts by 55%. This signals strong buying interest, which could help Ethereum maintain its upward trajectory.

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Pi Network Price Struggles at $0.60, Outflows Could Trigger Crash

Pi Network (PI) has been struggling to recover from recent losses. Despite attempts to push past the $0.71 resistance level, the altcoin is currently unable to gain significant upward momentum.

As of now, PI is sitting at $0.63, and its future movements remain uncertain. Investors are growing increasingly skeptical, with the recent mainnet migration roadmap failing to inspire enough confidence to stop outflows from the network.

PI Investors Pull Back

The Chaikin Money Flow (CMF) indicator has shown a sharp downtick in recent days, signaling that investor interest in Pi Network is waning. This negative sentiment is reflected in the substantial amount of money being pulled out of PI. 

While the mainnet migration roadmap was expected to boost the altcoin’s appeal, it has not been enough to stop the ongoing outflows. The CMF reflects a broader trend of declining interest as investors pull their funds from the platform in anticipation of further price declines. 

PI Network CMF
PI Network CMF. Source: TradingView

Pi Network’s investor sentiment has been notably negative over the past month. Many are questioning the value proposition of the token, particularly given its rapid loss of launch hype. This, combined with ongoing volatility and a lack of clear utility, has led to hesitancy in the market.

Investors are not seeing a compelling reason to hold onto their PI tokens, and this has fueled the continued sell-off.

Furthermore, with Pi Network’s price struggling to stay above the critical $0.61 support level, it is evident that market sentiment remains fragile. Without a significant catalyst, such as a strong use case or promising developments, Pi Network risks further price erosion. The absence of an optimistic outlook is pushing investors away.

PI Network Weighted Sentiment.
PI Network Weighted Sentiment. Source: Santiment

PI Price Needs To Bounce Back

Currently, Pi Network’s price stands at $0.63, holding just above the $0.61 support. However, the altcoin appears vulnerable, and there is a real possibility that it will fail to maintain this level. If outflows continue and PI falls below $0.61, it could experience a sharp drop to $0.51, erasing the gains made in April.

This potential drop would extend the losses for Pi Network, and the price may even approach $0.50. The rapid outflows and negative sentiment surrounding PI could lead to a prolonged downtrend if the altcoin cannot recover soon.

PI Network Price Analysis.
PI Network Price Analysis. Source: TradingView

However, if Pi Network manages to hold above the $0.61 support, it could push toward the $0.71 resistance level. A breach of this level would signal a recovery and could help the altcoin recover some of its recent losses.

The post Pi Network Price Struggles at $0.60, Outflows Could Trigger Crash appeared first on BeInCrypto.

Crypto News: KuCoin Thailand Officially Launches as SEC-Approved Crypto Exchange

The post Crypto News: KuCoin Thailand Officially Launches as SEC-Approved Crypto Exchange appeared first on Coinpedia Fintech News

KuCoin has officially launched its local crypto exchange in Thailand, now known as KuCoin Thailand, in partnership with ERX Company Limited. Fully licensed by Thailand’s Securities and Exchange Commission (SEC), this new platform combines KuCoin’s global trading experience with local operations. 

The launch, effective April 22, marks a major step in KuCoin’s Southeast Asia expansion, offering secure and regulated digital token and cryptocurrency services to Thai users.

“Our goal is to build a leading digital asset platform in Thailand with global vision, institutional-grade service and state-of-the-art technology,” said Henry Chen, Board Director at ERX.

Solutions Tailored To Thai Market

The operator continues to be called ERX, which recently acquired a license from the SEC. KuCoin is one of the top five crypto exchanges globally. ERX’s Chief Executive Att Tongyai Asavanund said that the goal is to bring powerful global tech and resources to offer solutions tailored to the Thai market. 

All the existing users have been migrated to the new platform, which can be accessed at www.kucoin.th or via the KuCoin TH app on mobile stores. ERX, now KuCoin Thailand now has a financial base with 351 million baht in paid-up capital. It’s almost entirely owned by Cryptosphere Ventures, a company set up in September 2024 with 1 million baht in initial capital.

KuCoin Thailand becomes the ninth crypto exchange to be licensed by the SEC, joining big names like Bitkub, Upbit, and Gulf Binance. Bitkub dominates Thailand’s crypto space with a trading volume of around $70 million. 

KuCoin Eyes Rapid Expansions

Previously, Thailand faced regulatory headwinds in South Korea, where KuCoin’s app was blocked without a license. KuCoin is eyeing rapid expansions across Latin America, the Middle East and Europe, with its global user base nearing 40 million. It is also pursuing an EU-wide MiCAR license through Austria.  

While crypto trading is popular in the country, using crypto for payments was banned in 2022. In April, regulators targeted foreign P2P platforms to fight scams and money laundering. KuCoin is also working to resolve a lawsuit with the U.S. CFTC.

The post Crypto News: KuCoin Thailand Officially Launches as SEC-Approved Crypto Exchange appeared first on Coinpedia Fintech News
KuCoin has officially launched its local crypto exchange in Thailand, now known as KuCoin Thailand, in partnership with ERX Company Limited. Fully licensed by Thailand’s Securities and Exchange Commission (SEC), this new platform combines KuCoin’s global trading experience with local operations.  The launch, effective April 22, marks a major step in KuCoin’s Southeast Asia expansion, …

Trump’s Crypto Advisor Explores Gold-to-Bitcoin Swap— BTC Eying $112k!

Gold vs Bitcoin Investment_ Which Asset Will Perform Better in 2025

The post Trump’s Crypto Advisor Explores Gold-to-Bitcoin Swap— BTC Eying $112k! appeared first on Coinpedia Fintech News

Bitcoin continues to gain traction in the U.S. political landscape, with President Donald Trump’s top crypto advisor, Bo Hines, showing openness to a bold idea—swapping Fort Knox gold reserves for Bitcoin. This potential move could reshape how the U.S. views digital assets and even set the stage for Bitcoin as a national reserve asset.

Bitcoin as “Digital Gold”

Hines, who serves as the Executive Director of Digital Assets for Trump’s campaign, recently spoke about Bitcoin’s significance, calling it “digital gold.” He highlighted the idea that Bitcoin deserves recognition similar to physical gold, reinforcing the belief that the U.S. should be more open to digital assets.

In a recent interview with FOX Business journalist Eleanor Terrett, Hines stated that he is open to discussing the possibility of exchanging Fort Knox gold reserves for Bitcoin, provided it remains budget-neutral.

However, he noted that such a move must be budget-neutral, meaning it should not impact taxpayers or the overall government budget. While no concrete plans are in place, he indicated that the administration is going with innovative ideas in the crypto space.

Lummis’ Push for a Bitcoin Reserve

This discussion aligns with the efforts of Senator Cynthia Lummis, who has long advocated for a national Bitcoin reserve. Lummis previously proposed selling a portion of the Federal Reserve’s gold certificates to acquire Bitcoin. 

Her 2024 BITCOIN Act suggested purchasing 1 million BTC, representing about 5% of Bitcoin’s circulating supply.

Although her initial bill did not gain traction, she recently reintroduced the proposal at a Bitcoin conference, reigniting the conversation on integrating Bitcoin into national reserves.

Exploring Other Cryptocurrency Too

The discussion also touched on whether the administration would support altcoins beyond Ethereum, XRP, Solana, and Cardano—four assets Trump previously mentioned in his first national crypto reserve statement. 

Hines clarified that while these assets were highlighted due to their market dominance, the administration is open to broader crypto adoption.

Bitcoin Price Analysis

As of now, Bitcoin remains in the spotlight as its price hovers around $84,170 with a market cap hitting $1.67 trillion. Meanwhile, crypto analyst Ali Martinez believes that for Bitcoin to continue its upward trend, it must stay above $94,000. If it breaks this level, BTC could surge to $112,000. 

However, if the price falls below $76,000, a sharp drop to $58,000 or lower might follow. 

The post Trump’s Crypto Advisor Explores Gold-to-Bitcoin Swap— BTC Eying $112k! appeared first on Coinpedia Fintech News
Bitcoin continues to gain traction in the U.S. political landscape, with President Donald Trump’s top crypto advisor, Bo Hines, showing openness to a bold idea—swapping Fort Knox gold reserves for Bitcoin. This potential move could reshape how the U.S. views digital assets and even set the stage for Bitcoin as a national reserve asset. Bitcoin …