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.
American financial services company Robinhood has announced that it is set to acquire WonderFi, a leading Canadian fintech and crypto platform, for $178.9 million (250 million CAD). The firm will buy WonderFi’s shares for $0.26 (0.36 CAD) each.
Robinhood announced the deal on May 13. This marks a significant step in its international expansion into the Canadian cryptocurrency market.
Robinhood to Enter Canadian Market via WonderFi Acquisition
According to the official announcement, Robinhood will finance the purchase with cash. The acquisition is expected to close in the second half of 2025, pending regulatory approvals, court approval, and WonderFi shareholder consent.
Notably, WonderFi currently manages over 2.1 billion CAD in custodied assets. It operates two Canadian-regulated digital asset exchanges, Bitbuy and Coinsquare. Furthermore, in 2024, the platform recorded a trading volume of 3.57 billion CAD and revenue of 62.1 million CAD.
“WonderFi has built a formidable family of brands serving beginner and advanced crypto users alike, making them an ideal partner to accelerate Robinhood’s mission in Canada,” Johann Kerbrat, SVP and GM of Robinhood Crypto, stated.
With this latest move, Robinhood aims to expand its offerings in Canada, a growing crypto market. The acquisition will leverage WonderFi’s technologies and products, including crypto trading, staking, and custody services.
Following the agreement, WonderFi will operate under Robinhood Crypto while continuing to deliver its existing products to Canadian customers. The WonderFi leadership team, including President and CEO Dean Skurka, will remain in place. They will join forces with Robinhood’s existing Canadian workforce of over 140 employees, based primarily in Toronto.
“WonderFi and Robinhood are united in our visions of making crypto accessible and bringing more people into the crypto space,” Skurka said.
The news positively impacted Robinhood’s stock, HOOD. According to Yahoo Finance data, the stock prices rose 8.9% to $62.5 at market close. Additionally, HOOD appreciated an additional 0.3% to $62.7 in after-hours trading.
This latest decision aligns with Robinhood’s broader strategy to expand its global footprint in the cryptocurrency sector. In 2024, the firm entered an agreement to acquire Bitstamp.
These deals are supported by a more favorable regulatory environment under President Trump’s second term. In fact, in late February, the SEC dropped its investigation into Robinhood, with similar steps taken for Coinbase, OpenSea, and others.
Meanwhile, Robinhood isn’t alone in its expansion plans. On May 8, Coinbase announced its $2.9 billion purchase of Deribit. Preceding that, Ripple acquired Hidden Road for $1.25 billion. In addition, Kraken bought NinjaTrader in a $1.5 billion deal. This reflects a broader trend of major crypto players acquiring financial platforms.
As blockchain technology continues to surge, the demand for digital asset appreciation has become a key drive of industry development. However, the limitations of traditional financial models and the complexity of on-chain operations present significant challenges for investors.
On one hand, traditional wealth management offers high barriers to entry and low returns, falling short of investor expectations for rapid asset growth. On the other hand, the complicated processes and potential risks of on-chain activities deter many users from participation.
Against this backdrop, Gate.io Staking provides users a safe, flexible, and high-yield solution for digital asset growth, leveraging innovative financial models and robust technology, trying to redefine the future of on-chain wealth management.
An Innovative Financial Model Potentially Ushering in a New Era of Digital Asset Growth
The launch of Gate.io Staking marks a new chapter in digital asset management. By integrating popular Proof-of-Stake (PoS) projects, the platform opens a novel pathway for users to grow their assets. Users can simply stake a certain amount of crypto assets to earn substantial on-chain rewards.
At the heart of this model is Gate.io’s rigorous project selection and professional evaluation. Every PoS project listed undergoes thorough due diligence by the platform’s expert team, ensuring a solid foundation for user’s asset safety. This innovative approach provides users with diversified staking options and, through its low entry threshold and high-yield features, makes digital asset growth more accessible than ever.
From the perspective of product design, Gate.io Staking stands out with its distinct advantages. The platform gathers the industry’s top PoS projects, offering users a wide selection of premium opportunities and competitive yields. Its flexible staking and redemption mechanism grants users greater control over their investments, allowing them to adjust their asset allocation at any time without worrying about long-term lockups.
Additionally, the platform’s 100% reserve mechanism offers comprehensive protection for user assets, while daily reward distribution ensures users can monitor their earnings in real time with full transparency. These advantages collectively form the core competitiveness of Gate.io Staking, making it an outstanding performer among all the on-chain wealth management platforms.
Embrace DeFi: Unlock New Staking Opportunities
Recently, Gate.io Staking has officially integrated new DeFi protocols, offering users greater asset transparency and lower transaction costs. By leveraging carefully selected on-chain lending, re-staking, and decentralized exchange (DEX) protocols, the platform provides enhanced liquidity and diversified earning opportunities.
Through deep integration with leading DeFi lending protocols such as Compound V3 and Aave V3, users can stake mainstream stablecoins like USDC and USDT to earn multiple token rewards, including USDC, USDT, AVAX, and COMP. This model offers stable and reliable returns, with competitive annualized yields designed to bring better investment experience to users.
In addition, Gate.io Staking integrates the dYdX protocol, enabling users to stake DYDX with a single click on Gate.io to earn yield in USDC stablecoins. This DeFi integration expands earning possibilities while leveraging the transparency and security of decentralized finance, providing users with a safe and reliable investment environment.
Diversified Tokens Launched: Capture New Opportunities of Asset Growth
Recently, Gate.io Staking is set for a major product upgrade, with the addition of four popular assets: USDT, USDC, DYDX, and AVAX. Alongside this expansion, the platform is launching exclusive bonus rewards, offering annualized yields of up to 9.02%, creating unprecedented earning opportunities for investors.
USDT and USDC staking and yield distribution are enabled through multiple diversified DeFi protocols such as AAVE V3 and Compound V3, each offering unique operation modes and risk-return profiles. Investors can choose their preferred protocols based on individual risk tolerance and investment objectives, enjoying stable returns from digital asset growth.
With multi-layered reward mechanisms, Gate.io Staking delivers diversified income streams, further improving its attraction to users and solidifying its position as the go-to platform for digital asset growth. Benefited from the platform’s flexible staking policies, users are able to fully maximize returns on their assets through staking with ease.
Seize the Opportunity: Embark on the Digital Asset Growth Journey
In the fast-evolving digital asset landscape, every investor seeks a secure, efficient, and rewarding path to wealth growth. Powered by innovative financial models, robust technology, and a rich selection of projects, Gate.io Staking offers a comprehensive platform to grow digital assets for users.
Now is the time to take action and embark on a new journey of digital asset growth. Register Gate.io today and get a new experience of on-chain wealth management, maximizing your digital asset growth in a secure and transparent environment.
Disclaimer: The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement.
President Trump has once again called on Fed Chair Jerome Powell to cut interest rates, but the crypto community doesn’t seem interested anymore. Rate cuts seem as unlikely as ever, but the market has new bullish narratives.
Between a US-China trade deal, new investors, and technological advancements, recession fears have apparently left the crypto market.
Trump Keeps Pushing for Rate Cuts
When Trump’s tariffs threatened to disrupt the global economy, the crypto industry pinned its hopes on one bullish narrative: cuts for US interest rates.
The US President repeatedly harangued Jerome Powell, even threatening to fire him before relenting, yet Powell and his allies were firm: this was not happening. Trump has continued asking, appealing to Powell again today:
No Inflation, and Prices of Gasoline, Energy, Groceries, and practically everything else, are DOWN!!! THE FED must lower the RATE, like Europe and China have done. What is wrong with Too Late Powell? Not fair to America, which is ready to blossom? Just let it all happen, it will…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 13, 2025
Throughout these proceedings, the crypto industry repeatedly urged more rate cuts, claiming that the “money printer” would stave off economic collapse.
Trump asked Powell to cut interest rates recently, but the latest FOMC meeting reaffirmed the status quo. How did crypto react to this? So far, it seems like it finally got the memo.
Crypto-affiliated prediction markets like Kalshi have repeatedly posted optimistic odds of Trump’s rate cuts compared to TradFi assessors like the CME Group. For example, the last time Trump made this request, Kalshi predicted that three cuts would happen this year.
At the time, this would have signified a cut at half of the year’s remaining FOMC meetings. In March, Kalshi even expected four! The CME, on the other hand, put over 98% odds on no cuts in May.
Indeed, this scenario is what happened, and Kalshi has since lowered its expectations. It currently anticipates only two cuts for the rest of the year, much more in line with other firms’ predictions.
How Many Interest Rate Cuts in 2025? Source: Kalshi
What can crypto conclude from this? The community has apparently internalized that Trump can’t force cuts to interest rates. However, things are going well regardless.
All that is to say, Trump’s proposed interest rate cuts were just one way to potentially boost crypto investment. If Powell spontaneously changed his mind today, it’d be bullish, but as of now, the crypto market is slowly moving away from these macroeconomic drivers.
