Thailand Ranks 10th In Crypto Adoption – SEC To Allow Mutual Funds In $1.5 Trillion Digital Asset Arena!

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’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 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.

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.

You may not have heard of TeraHash yet. Their website describes TeraHash as a “Bitcoin mining protocol built to make mining yields as simple and accessible as staking”. But TeraHash aims to go even further: to set a new standard for mining tokenization and unlock access to mining-based rewards for everyone.

So how is it that, even before launching, TeraHash already has over 8 million users around the world?

How did a mining-themed game launched just a year ago evolve into what could soon be one of the largest Bitcoin mining protocols  – backed by some of the most respected names in the mining and Web3 world?

Let’s take a closer look.

Chapter I: From Wall Street to Hashrate

The story of TeraHash began when its founders left the world of traditional finance on Wall Street, armed with deep expertise, extensive experience, and a powerful global network. Turning their focus to Bitcoin mining, they quickly scaled operations to become one of the largest players in the industry. Within just a few years, they built over 300 megawatts of Bitcoin mining operations and secured strategic partnerships with Bitmain and other industry leaders. To date, the team has deployed more than 10 EH of mining power and at one point operated nearly 2% of the entire Bitcoin network.

But the deeper they ventured into mining, the more one question kept surfacing: Why is one of the most profitable sectors in crypto still so difficult to access?

Despite offering some of the highest historical yields in the industry – 20%, 40%, even over 100% during certain cycles – Bitcoin mining remains notoriously inaccessible. Barriers like hardware procurement, hosting logistics, power agreements, and infrastructure setup create a steep entry point, often requiring millions in upfront capital and months of lead time. What should be a powerful wealth-generation tool is, for most, an exclusive domain reserved for insiders and large-scale operators.

This led to a pivotal idea:

Could there be a simpler, more inclusive way to access mining-based rewards?

Not by buying machines, but by buying a token — just like buying ETH or SOL. And ideally, without trusting centralized hosts or waiting weeks for delivery.

That concept became the foundation for a new protocol.

Chapter II: The Yield War

Crypto is, in many ways, a global market for yield.

Protocols compete to attract capital with the promise of returns:

Staking platforms, lending pools, rebase tokens, liquid staking, real-world assets.

By 2023, many DeFi protocols were offering just 4–8% APY, while Bitcoin mining was said to be quietly delivering 5 to 10 times higher returns.

Still, there was no on-chain standard for mining. And that raised a key question: what exactly should be tokenized? The machine itself? The revenue stream? Hosting capacity?

Eventually, the team focused on what they considered the core economic unit of mining:

The terahash per second (TH/s).

This led to the creation of THS — a tokenized representation of mining power.

Instead of purchasing a $5,000 machine with 200 TH/s, users could simply buy 1 THS, or even a fraction of THS. No need for hardware, hosting, or maintenance. 1 THS equaled 1 TH/s of live hashrate, operated by the protocol.

The team has positioned THS as the de-facto industry benchmark, akin to what ETH became for staking.

But to establish a new standard, there needed to be users — and a lot of them.

Chapter III: Enter the Cats

To build that user base, the team didn’t start with a whitepaper. They started with a game.

Amid the rise of Telegram mini-apps, they launched HashCats — a mining-themed simulation where players managed digital mining farms run by competitive, quirky cats.

Players could:

• Buy and upgrade machines
• Stake earnings to increase yield
• Manage electricity costs
• Optimize performance
• Experience halvings and reward cycles

Beneath the surface, HashCats was an educational layer, subtly teaching mining economics to a mass audience.

It worked.

In less than 8 months, over 8 million users had onboarded. Over 1 million people were playing monthly. Many had no idea that behind the game was a real mining infrastructure taking shape.

Everyone was waiting for the $HASH token.

Chapter IV: The Reveal

In late April, the team made their move:

HashCats was just Phase One.

TeraHash was the protocol.

The $HASH token, earned in-game, would become the incentive and utility token of the protocol, designed to receive rewards from excess mining yield, offer discounts, and support user engagement.

The reveal caught many by surprise. But it also helped clarify the bigger picture.

Players weren’t just gaming — they had been part of a large-scale crypto onboarding experiment. 

TeraHash is about to launch in July, introduced a lineup of industry names involved in the project, and publicly set an ambitious goal: to tokenize at least $5 billion worth of mining hashrate over the next 3 years. Stay tuned to get latest updates.

The team positioned TeraHash as a future standard in mining tokenization.

Chapter V: What We Know So Far

While full protocol documentation is still pending, a few key pieces have already been shared.

At the core of the TeraHash system is THS — a token representing 1 TH/s of real, verifiable mining power. This token aims to become the standardized unit for mining tokenization, enabling users to access mining yield without buying hardware or managing infrastructure.

To ensure trust and accountability, the team has committed to quarterly audits and on-chain transparency reports, confirming that the number of $THS tokens in circulation matches the live hashrate under protocol control. Electricity costs, mining site data, and reward distribution metrics will also be made available through a public dashboard.

Long term, the protocol plans to integrate $THS into wallets, exchanges, and DeFi platforms.

In parallel, TeraHash introduces a second token: $HASH.

$HASH was the native currency of the original HashCats game and is expected to launch with over 1 million holders at TGE. Beyond nostalgia, $HASH plays an important role in the protocol’s design: it enables governance (DAO), provides discounts (e.g., on electricity), and most notably, serves as a mechanism for redistributing rewards from idle $THS.

The concept is simple: when users forget or fail to stake their THS, the associated mining rewards aren’t distributed. Instead, they are routed into a dedicated treasury, which periodically purchases$ HASH on the open market.

$HASH can then be staked, either solo or in combination with THS (dual staking), to unlock additional rewards. Dual staking is expected to be incentivized more heavily.

The team has also indicated that a detailed roadmap and a number of major partnership announcements are expected in June, which they describe as a “defining month” for the project.

Chapter VI: What Comes Next

As the crypto community watches closely, TeraHash is preparing to launch:

• THS, a token tied to live, protocol-operated hashrate
• HASH, an incentive asset tied to staking and rewards
• A mining engine built to be transparent, modular, and DAO-governed

Whether TeraHash succeeds in redefining mining access remains to be seen. But its architecture suggests a push toward decentralization, programmability, and integration with wallets, custodians, and exchanges.

Could mining, one of the most capital-heavy industries in crypto, soon become open and programmable?

Could mining-based yield find its place in the broader DeFi landscape?

If TeraHash delivers on its promises, it might help reshape how the world views Bitcoin mining.

Many in the crypto community are watching closely.

The post How a Game Turned Into the Largest Bitcoin Mining Protocol, Powered by 8 Million Users — The Story of TeraHash appeared first on BeInCrypto.

ZKsync’s official X (formerly Twitter) account was briefly compromised to promote a fake ZK token airdrop.

The fraudulent post claimed that every follower was eligible to claim a share of the initial token supply. It directed users to a suspicious link: “distribution-zksync.io.”

The post remained live for approximately 15 minutes before being deleted. As of now, ZKsync has not issued any public statement confirming the breach.

zkSync twitter is compromised. Don’t interact. pic.twitter.com/1l9cNwBLUJ

— pseudo (@pseudotheos) May 12, 2025

Despite the hack, there has been no significant immediate impact on the ZK token price, yet. However, further fallout could still materialize if user trust erodes.

Security experts warn users to remain cautious and avoid interacting with any unverified links related to token distributions.

This incident highlights the growing frequency of social media breaches targeting major crypto projects.

This is a developing story.

The post ZKsync X Account Hacked to Promote Fake Airdrop appeared first on BeInCrypto.