Pi Coin’s price has been on a rollercoaster—rising to $2.98 before crashing down to $0.50, leaving many surprised. As of now, Pi is down over 11% and trading at $0.63. One reason for Pi Coin’s struggle could be its absence from major exchanges like Binance and Coinbase, which limits its visibility and trading volume.
As reported by Bao Moi, Nguyễn Hà Minh Thông, founder of Cabo Capital in Ho Chi Minh City, has shared reasons on why Binance has yet to list Pi Token. The expert said that while the Pi community might believe the project doesn’t need Binance, without recognition from major exchanges, Pi will continue to face skepticism and struggle to achieve real market value.
Limited Open Market Activity:
Pi Network’s mainnet has been live since late 2024, but it remains in an “enclosed” state, meaning transactions are limited to its internal ecosystem. Binance prefers projects with fully open, public blockchains to ensure transparency and market stability.
Unclear Tokenomics:
The total supply of Pi is reportedly 100 billion tokens, but only about 6.8 billion are in circulation. The Pi Core Team has also reduced the supply by removing 10 million tokens without clear explanations, raising concerns about potential price manipulation. Binance requires clear data on token distribution to avoid risks.
Regulatory Concerns:
Binance is under regulatory pressure globally, especially in the U.S., where legal issues around money laundering and financial compliance are serious. Pi Network has not been officially recognized by any regulatory body. In Vietnam, cryptocurrencies aren’t legally recognized, and in China, Pi was flagged as a “multi-level marketing project.” Listing Pi could expose Binance to legal risks.
Lack of Liquidity and Market Activity:
For a token to be listed on Binance, it needs strong liquidity and trading volume on major exchanges. Pi currently trades mainly through OTC channels like Telegram and small exchanges (e.g., OKX, HTX) with unstable prices. Binance prefers tokens that have experienced real price discovery in open markets.
Centralization Issues:
Pi Network has faced criticism for its high level of centralization, with the Pi Core Team controlling all mainnet nodes. This contradicts the decentralization principle that major exchanges like Binance prioritize, as seen with Bitcoin and Ethereum.
Bitcoin price action has recently sent shockwaves across the broader market with its volatility, flagging a potential bull cycle end. Notably, CryptoQuant CEO on Tuesday said that the “BTC bull cycle is over,” triggering market concerns globally. Nevertheless, the latest market statistics, such as rising stablecoin inflows, broader advancements, and bullish price chart formations, conversely signal that a rally lies ahead.
CryptoQuant CEO Says Bitcoin Bull Cycle Is Over, Is It True?
BTC price lost nearly 1% value and exchanged hands at $83,179 as of press time. The coin mainly stagnated around the $80K-$85K price level over the past week.
In an X post on March 18, CryptoQuant CEO Ki Young Ju conveyed that he believes the flagship coin’s bull cycle is over. Besides, Young anticipates 6-12 months of a bearish or sideways trading session for the crypto ahead.
The CEO says, “Every on-chain metric signals a bear market.” Notably, this comment stems from the CEO’s observations of fresh liquidity drying up and new whales selling at lower prices.
Additionally, the bull cycle end warning is in sync with PCA (Principal Component Analysis), a metric to analyze on-chain aspects. Young reveals that after analyzing aspects like MVRV, SOPR, and NUPL to compute a 365-day moving average, the signal identifies an inflection point, a.k.a trend reversal ahead.
Source Ki Young Ju, X
Although these market dynamics triggered market concerns of a Bitcoin correction/consolidation ahead, other developments conversely stirred up the crypto market.
Stablecoin Inflow Surge Sparks Optimism
According to an X post by Matrixport on March 18, stablecoin inflows continue to surge despite the recent market turmoil. Both Tether (USDT) and Circle (USDC) witness constant inflows, conversely bringing more liquidity to the market.
Source: Matrixport, X
Reportedly, the stablecoin growth recorded in Q4 last year has moderated, although the uptrend still persists. Fresh capital continues to flow into the crypto market despite a turbulent action amid macro heat, signaling renewed investor sentiment.
This saga, in turn, sparked bullish sentiments as Bitcoin demand could also rise ahead.
Metaplanet Continues Buying Spree
Simultaneously, Japan’s Metaplanet’s acquisition plans continue to underscore a burgeoning institutional interest in the flagship asset. The Japanese public company acquired 150 BTC worth $12.5 million on March 18 as a part of its treasury operations.
Source: Metaplanet, X
The constant buying is a solid confidence booster for market participants, indicating an institutional shift towards the crypto asset class. CoinGape reported that the Singapore Exchange (SGX) is also eyeing the launch of Bitcoin futures contracts amid rising adoption in the Asian landscape.
Meanwhile, even Michael Saylor’s Strategy bought 130 coins for $10.7 million recently. Altogether, these broader developments signaled that a price rally is possible when looking at long-term prospects.
Price Rally Awaits?
Crypto analyst ‘Stockmoney Lizards’ posted on X this Tuesday, stating that BTC is in a corrective channel, characterized by lower highs and lower lows. However, this bearish momentum is waning, per the analyst. The current price chart formation shows a bullish divergence in the daily time frame.
For context, bullish divergence signals a reversal in a downtrend, suggesting that price gains loom. However, the analyst also revealed that a potential dip to mid-low 70s is anticipated. Nevertheless, <80k remains as a string accumulation zone for many.
Source: Stockmoney Lizards, X
In conclusion, the Bitcoin bull cycle may not be over long-term, although short-term volatility may be expected amid broader trends.
“This was due to an entity(s) on the Binance perpetuals market. That’s what triggered the entire cascade. The initial drop below $5 was triggered by a ~1 million USD short position being market-sold. This caused over 5% of slippage in literal microseconds. That was the trigger. This seems intentional to me. They knew what they were doing,” the analyst stated.
Pi Network: From Chainlink Buzz to Transparency Fears
Pi Network recorded strong optimism this week as its native Pi Coin surged by double digits. BeInCrypto attributed the surge to the announcement of a key integration with Chainlink.
They pitched this strategic collaboration as a gateway to real-world utility. Specifically, it positioned Pi closer to the broader DeFi and smart contract ecosystem. However, the euphoria proved short-lived.
Allegations suggest that, like the OM token, Pi coin lacks full clarity around circulating supply, wallet distribution, and centralized control. To some, these are potential red flags in an increasingly regulation-sensitive industry.
“The OM incident is a wake-up call for the entire crypto industry, proof that stricter regulations are urgently needed. It also serves as a huge lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet,” wrote Dr Altcoin.
Pi coin reversed gains within days, falling 18% from its weekly high. At the time of writing, PI was trading at $0.6112, up by a modest 0.7% in the past 24 hours, per CoinGecko.
Grayscale’s Altcoin Shake-Up: 40 Tokens Under Review
This week in crypto also showed that institutional investor interest in altcoins is heating up again, with Grayscale leading the charge.
The digital asset manager unveiled its updated list of assets under consideration for the second quarter (Q2) 2025. BeInCrypto reported that the list featured zero altcoins across sectors such as DePIN, AI, modular blockchains, and restaking. Among the notable tokens being eyed are SUI, STRK, TIA, JUP, and MANTA.
The update reflects Grayscale’s growing thesis around emerging crypto trends, particularly as the firm seeks to expand beyond its core Bitcoin and Ethereum products.
This announcement follows a broader strategic overhaul from three weeks ago when Grayscale reshuffled its top 20 list of altcoins by market exposure. Several older names were dropped at the time, while newer narratives like Solana-based DePIN and Ethereum restaking plays were pushed to the forefront.
The expansion into 40 coins signals Grayscale’s recognition of renewed retail and institutional appetite for differentiated assets. However, inclusion in the list does not guarantee a fund launch. It only indicates Grayscale’s active research.
XRP and SWIFT Partnership: Breaking Down the Rumors
There was speculation this week about a possible partnership between Ripple’s XRP and banking giant SWIFT in crypto.
This narrative was based on a misinterpreted document. A series of cryptic social posts exacerbated the speculation, which some took as confirmation of collaboration between the global payments network and the XRP ledger.
However, BeInCrypto’s in-depth reporting sank the rumors. While Ripple has long pursued banking institutions and SWIFT has shown openness to blockchain innovations, there is no verified partnership between the two.
SWIFT’s public-facing projects around tokenization and digital asset settlement do not include XRP.
Despite the debunking, the rumors sparked an important conversation about XRP’s long-term positioning. The token remains a top-10 asset and a favorite among retail investors banking on utility-driven price appreciation.
With Ripple’s legal battles with the SEC nearing resolution and international CBDC partnerships in the works, the project is far from irrelevant.
US Dollar Dives: What the DXY Crash Means for Bitcoin
The US Dollar Index (DXY) hit a three-year low this week, sending ripples through the crypto markets. Historically, a falling DXY has been bullish for Bitcoin, and this week was no different, with BTC reclaiming above the $84,000 range.
The greenback’s weakness reflects growing fears of fiscal deterioration in the US, as rate cuts loom and Treasury debt soars.
Japan’s 10-year bond yields hit multi-decade highs, forcing the Bank of Japan (BoJ) into increasingly precarious interventions. As Japanese liquidity spills outward, crypto and risk assets have become inadvertent beneficiaries.
This macroenvironment is ideal for Bitcoin. Weakening fiat, rising global liquidity, and crumbling bond market confidence create a perfect storm.
XRP is up 7% over the last week of April, but May 2025 could bring even bigger moves as major catalysts line up. Key metrics like NUPL and active addresses show a market at a crossroads, with strong optimism and warning signs.
Hype around ETF approvals has stirred volatility, and real institutional inflows could decide XRP’s next major trend. Traders should prepare for a month where both sharp rallies and deep corrections remain firmly on the table.
XRP NUPL Signals Rising Confidence, but ETF Rumors Stir Volatility
XRP Long-Term Holders Net Unrealized Profit/Loss (NUPL) is currently at 0.73. This places it firmly in the “Belief – Denial” stage of the market cycle. The indicator measures the average unrealized profit among long-term holders.
It has been stuck in this zone since March 27, over a month ago. In general, NUPL values above 0.75 indicate “Euphoria—greed.”
Readings between 0.5 and 0.75 show belief that prices can rise, but there is also the risk of denial if momentum weakens.
The current value has risen from 0.68 three weeks ago to 0.73 today. Long-term XRP holders are seeing larger paper gains. Still, the market could soon face a critical moment where either continuation or a correction emerges.
Rumors about an SEC-approved spot XRP ETF have recently caused confusion, adding more fuel to market volatility. In reality, only ProShares’ leveraged and short XRP Futures ETFs were approved to begin trading on April 30. A true spot ETF has not been approved.
Although the futures approval is seen as a positive step for XRP’s long-term legitimacy, spreading false information has damaged investor confidence. It has also created unnecessary instability.
Some experts predict that a future spot ETF could eventually drive up to $100 billion in capital inflows into XRP. However, until that happens, volatility driven by rumors and miscommunication remains a major risk for the token.
XRP User Engagement Slows as Active Addresses Stay Below 200,000
XRP’s 7-day active addresses have dropped significantly, currently at 147,000, compared to their all-time high of 1.22 million, which reached March 19.
Monitoring active addresses is crucial because it offers real-time insight into user engagement, transaction volume, and overall ecosystem health—lower address activity often signals waning interest, reduced transaction flow, and a softer foundation for sustained price growth.
Since April 1, XRP’s 7-day active address count has consistently stayed below 200,000, reinforcing that user activity has yet to recover fully.
While the drop does not necessarily mean a major price collapse is imminent, it highlights a critical point: strong rallies are often backed by growing network participation.
Without a meaningful pickup in active addresses, XRP could struggle to maintain momentum or ignite a new bullish phase soon.
XRP ETF Approval Could Trigger 49% Rally, But Downside Risks Remain
The final approval of a Spot XRP ETF could become a major catalyst for the token’s price. It would potentially unlock significant institutional inflows. Recently, the world’s first XRP ETF began trading in Brazil.
Experts predict that, if real demand follows the approval like it did with Bitcoin, XRP price could rally sharply. The next major upside target is $3.40, representing a 49% increase from current levels.
This move would be driven by fresh inflows, greater mainstream acceptance, and a tightening supply as more investors gain direct exposure through regulated channels.
On the downside, if momentum fails to recover and a strong downtrend takes hold, it could face a sharp correction. A break below the psychological $2.00 level would expose the token to deeper losses, with the next major support around $1.61.
Such a move would imply a 29% drop from current prices, reflecting a scenario where optimism around ETFs fades and selling pressure takes over.
In this case, XRP could remain stuck in a broader consolidation or bearish phase until stronger catalysts appear.
