Pi Network has soared by a staggering 79% in the past 24 hours while Bitcoin and other major cryptocurrencies crashed.
So now the question becomes: is Pi Network the best crypto to buy?
$PI Shows Strength With Strong Volume on Breakout
Look at CoinMarketCap today, and you’ll see that while Bitcoin is veering into dangerous territory and losing multiple key support levels, while Pi Network is racing ahead.
The new project lets you mine cryptocurrency from your smartphone and has rallied by a whopping 79% in the past 24 hours. But that’s not even the wildest part. Pi coin now trades at $2.91, giving it a staggering $19.3 billion market cap.
Considering that Pi coin has only recently launched on exchanges and very few well-known analysts are talking about it, this may appear as an overvaluation. However, the project’s trading volume stands at $3.37 billion, showing that there is considerable demand even at this elevated price and market cap.
Looking ahead, traders are anticipating Pi coin listing on Binance exchange. Analyst Moon Jeff notes that 192K Binance users voted in a poll to list Pi coin on the platform. Should this occur, it would open even more buyers to Pi coin, which community members hope would increase its price even more.
$PI is coming to Binance.
.
As of yesterday, 192k Binance users had voted for $PI listing.
On the other hand, 29k users had voted against its listing.
So far 86.6% want #PiNetwork on Binance.
.
You might see Binance on the PiNetwork KYB list soon. pic.twitter.com/8QUvUTeDpM— MOON JEFF 🪐 (@CRYPTOAD00) February 26, 2025
Too Good to be True?
With a market cap of $19.3 billion, Pi coin is now the 11th largest cryptocurrency. However, CoinMarketCap doesn’t show it in the 11th spot because it has been unable to verify the project’s self-reported circulating supply thus far.
Questions are rising about how a cryptocurrency that most mainstream analysts haven’t spoken about has gotten so big. An analyst who goes by Mythical Lonely Kappy suggests that the Pi coin supply is incorrect and that many of the $PI tokens are locked, which is why the price is increasing.
That’s a secret of the universe hahah
I don’t understand where a lot of the buying pressure from diff coins is coming from tbh.
I think the supply info is incorrect though , what they are showing right now. There was a time where people could lock their pi coins for 1-3-5-8…
— Mythical Lonely Kappy 💹🧲 (🌐,🌐) (@Pankekkeku) February 26, 2025
Earlier, ByBit CEO Ben Zhou warned that the project could be a “scam,” citing reports that Pi coin steals people’s personal data and even pensions.
Pi coin has soared significantly since Zhou’s post, so there’s every chance it continues to climb. However, investors must consider the project’s already huge market cap and the potential downside risk that this presents.
With that in mind, many shrewd investors are turning to a Pi coin competitor, Solaxy. This project not only has a significantly lower market cap but is also linked to the world’s most active blockchain, Solana.
Could Solana L2 Solaxy be the Next 10X Launch?
Solana is crypto’s most active ecosystem, with millions of daily active users and billions in daily trading volume. But it’s not without issues. Since its first launch, Solana has grappled with congestion problems, leading to longer wait times and failed transactions in times of peak activity.
Solaxy is building Solana’s first layer 2 blockchain to handle some of its workload and eradicate the congestion issue. But it won’t just be taking some of Solana’s transactions and processing them at the same speed – thanks to its transaction bundling technology – Solaxy will be cheaper, faster, and more reliable.
The $SOLX token holds an important role in the ecosystem, used to pay transaction fees, facilitate swaps in liquidity pools, and for staking.
It’s the first time a project is working to overhaul Solana’s scalability, and so investors can’t get enough.
The project is available to buy via a presale, which has raised $23.7 million so far. After the presale ends, $SOLX will list on exchanges, and that’s when analysts such as Austin Hilton anticipate it will explode.
Currently, investors can buy $SOLX at presale for $0.001648.
However, this price will rise throughout the ICO, with the next increase in under two days.
