Monat: Mai 2025

Veröffentlicht am

PI coin price prediction as it drops below $1 despite $100m Pi Network Ventures launch

  • The PI coin has dropped to $0.803 despite the $100M Pi Network Ventures fund launch.
  • The Pi Network Ventures fund targets startups to boost PI’s real-world utility.
  • Bearish technicals suggest PI may fall to $0.75 or lower.

Pi Network’s Pi Coin has seen a drastic 10% drop in price over the past 24 hours despite Pi Network announcing a $100 million investment in startups as it launched the Pi Network Ventures.

Initially, the announcement sparked optimism among investors, but the market quickly turned bearish.

Consequently, PI now trades at $0.803, down from a recent high of $1.65.

This sharp decline suggests a classic “sell the news” reaction, with technical indicators pointing to further downside risks.

The Pi Network Ventures launch

On May 14, Pi Network unveiled Pi Network Ventures, committing $100 million to foster startup innovation.

Specifically, the fund, held in Pi and USD, targets ventures enhancing PI’s real-world utility.

For instance, it supports startups in AI, FinTech, and e-commerce, integrating Pi into their operations.

Moreover, the initiative draws from the Pi Foundation’s 10% token reserves.

As a result, it aims to transform Pi into a widely used cryptocurrency.

However, the lack of details on project selection has frustrated investors. Consequently, market sentiment soured post-announcement.

Additionally, the fund’s focus extends beyond blockchain to general tech sectors.

Therefore, it mirrors Silicon Valley venture capital strategies.

Ultimately, this broad approach seeks to strengthen Pi’s ecosystem for its 19 million KYC-verified users.

But despite these ambitions, the announcement failed to sustain bullish momentum.

Instead, PI’s price plummeted 26.2% within 24 hours of the news.

Furthermore, community complaints about slow migration processes after the Pi Network mainnet launch amplified selling pressure.

Nevertheless, the initiative offers startups access to Pi’s global user base across 200+ countries, and it could drive long-term adoption, although the immediate market reaction remains overwhelmingly bearish.

PI coin price prediction

At press time, PI traded at $0.803, down 10.6% over the past 24 hours according to Coingecko data.

Significantly, the price has breached the critical $1 psychological support level.

Moreover, technical analysis reveals a bear flag pattern on the 2-hour chart.

Consequently, this pattern signals potential further declines to $0.75 or even $0.57.

Additionally, the 21-period EMA has crossed below the 50-day and 200-period EMAs, reinforcing bearish signals.

However, the Relative Strength Index (RSI) indicates oversold conditions, hinting at intense selling pressure.

However, a bullish market reversal could push PI toward $1.25, aligning with the 0.618 Fibonacci level.

Despite recent losses, PI has remained 11.8% above where it was seven days ago, despite being 73.1% below its all-time high of $2.99 from February 2025.

Furthermore, trading volume has surged 11%, comprising 14% of the $5.75 billion market cap.

This heightened activity underscores the market’s reaction to the Ventures announcement, and looking ahead, the failure of Pi coin to reclaim $1 could intensify bearish momentum.

Conversely, a broader crypto market rally might bolster PI’s recovery, and traders should monitor the 50-day and 200-day EMAs as key resistance levels.

Ultimately, PI’s short-term outlook hinges on market sentiment and ecosystem developments.

The post PI coin price prediction as it drops below $1 despite $100m Pi Network Ventures launch appeared first on CoinJournal.

Veröffentlicht am

Onyxcoin price soars as 24-hour volume explodes 600%

  • Onyxcoin (XCN) price soared 16% as the altcoin outpaced peers.
  • Gains for XCN came as daily volume rose by more than 600%.
  • Most altcoins are trading green on the daily and weekly time frames amid risk-on sentiment.

Onyxcoin (XCN) is outpacing most altcoins in the past 24 hours as interest in the token sends its price skyrocketing.

Attention on the XCN coin has seen its price jump more than 16% in the past 24 hours, with volume exploding a staggering 600%.

With Onyxcoin eyeing a likely listing on a major exchange, its price could rally to new multi-month highs.

Onyxcoin price jumps as volume explodes

The broader cryptocurrency market is experiencing notable optimism as Bitcoin’s resilience above $100k continues to boost traders.

Ethereum’s gains have also seen altcoins eye fresh traction, as investors look to diversify their portfolios beyond Bitcoin.

While the fear and greed index, a key indicator of market sentiment, trends in the greed zone, small caps like Onyxcoin are building momentum.

In the past 24 hours, Onyxcoin’s price has surged more than 16%, reaching $0.022.

The token traded at lows of $0.016. Amid this hyped performance, XCN has recorded a daily volume of over $210 million.

This remarkable performance has positioned XCN as one of the top gainers in the cryptocurrency market.

Speculation about a potential Binance listing has the market in anticipation of fresh gains, which is the case if bulls continue to dictate sentiment.

“Crypto is leading the rebound. $BTC is nearing ATHs, $ETH is catching up, and with Coinbase set to join the S&P 500 on May 19, digital assets may see a fresh wave of inflows,” QCP Capital noted.

XCN price analysis

Onyxcoin’s price action looks bullish given the current movement and technical indicators. A look at the charts shows there’s notable resistance around $0.023.

However, above this, buyers may want to push for a retest of the hurdle near $0.030 and one-year highs of $0.35.

The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators on the daily chart align with this outlook.

If bulls manage to break above resistance at the $0.023 level, they could pull XCN to new multi-month highs and target new gains.

XCN chart by TradingView

However, a dip to $0.016 could accelerate selling, with a potential breakdown that pulls prices to lows of $0.0084 reached in early April 2025.

The long-term descending trend line gave way for recent gains, but bulls are not completely out of the woods.

Despite this, the huge volume coupled with broader market sentiment suggests that Onyxcoin could be positioned for a new leg up.

The post Onyxcoin price soars as 24-hour volume explodes 600% appeared first on CoinJournal.

Veröffentlicht am

UK confirms crypto tax data rules under CARF; first deadline set for May 2027

  • CASPs must collect all user data but report only on UK and CARF tax residents.
  • Service providers will incur up to £300 penalty per user for non-compliance.
  • UK aligns with over 40 jurisdictions pushing for crypto tax transparency.

The UK government has confirmed it will implement new crypto tax data rules under the Organisation for Economic Development’s  (OECD) Crypto-Asset Reporting Framework (CARF), aligning with international standards on tax transparency.

Cryptoasset service providers (CASPs) operating in the UK must collect user data from 2026 and submit reports starting May 2027. These changes aim to curb tax evasion, strengthen global reporting obligations, and increase accountability in the digital asset sector.

The regulations will apply to all CASPs offering exchange, transfer, or custodial services, even if the firm is not based in the UK.

Entities will be required to gather identity and transactional data from all users but only report on users who are tax residents in the UK or jurisdictions that have adopted the CARF rules.

Reporting threshold begins 1 January 2026

The first reporting period will cover activity between 1 January and 31 December 2026, with submissions due by 31 May 2027. Subsequent reports will be due annually, with each deadline falling on 31 May.

While providers must collect data from all users, only those who qualify as reportable users—UK tax residents or residents of CARF-aligned countries—will be included in the filings.

Reporting must be submitted via HMRC’s online platform using an XML format aligned with the OECD’s guidance. The digital submission tool is not yet live, but the government plans to provide instructions ahead of the first filing deadline.

The framework is designed to mirror reporting standards used in traditional finance, such as the Common Reporting Standard (CRS).

According to the OECD, the CARF framework will allow tax authorities to track crypto transactions across borders in a standardised and automated way.

Crypto firms face £300 penalties per violation

HMRC has set out strict penalties for failure to comply with the new rules. Crypto firms that do not submit a report, submit it late, or include inaccurate or incomplete information could be fined up to £300 per user.

This applies to both UK-based firms and those providing crypto services within the UK market.

Firms are encouraged to prepare internal systems ahead of time to ensure they can gather the required user identity details and transaction summaries.

While no penalties will be applied for not reporting if no reportable users exist in a given year, the data must still be collected and available for audit.

The rules will place further compliance burdens on CASPs, especially decentralised platforms and non-custodial wallet providers, which may struggle with identity verification.

Industry participants are awaiting further clarification on how the regulations will apply to decentralised protocols or services operating with minimal user data collection.

UK joins global push for crypto transparency

The UK’s adoption of CARF is part of a broader international effort to close regulatory gaps in the crypto space. More than 40 jurisdictions, including EU member states, have committed to implementing the framework in a coordinated timeline.

The EU has already integrated CARF into its revised Directive on Administrative Cooperation (DAC8), which also takes effect from 2026.

By aligning with global standards, the UK aims to bolster its credibility as a regulated but competitive jurisdiction for crypto businesses.

The move comes as regulators worldwide increase scrutiny of digital asset activities following major collapses in the space, such as FTX and Celsius.

Although the new obligations do not come into effect until 2026, HMRC is urging CASPs to begin preparations now, especially those who may be collecting personal data for the first time.

Regular updates will be issued by the tax authority, with guidance available via email alerts for firms and individuals who opt in.

Long-term impact on UK crypto sector

As the UK tightens compliance rules for digital assets, some CASPs may choose to relocate or exit the market due to the operational and financial burden. However, others see the shift as a step toward legitimising crypto’s role in the financial system.

The crypto tax data rules under CARF are likely to reshape the UK’s digital asset landscape, increasing transparency for regulators and potentially reducing appeal for illicit users.

Whether this strengthens or stifles innovation remains to be seen, but for now, the message is clear: compliance is no longer optional.

The post UK confirms crypto tax data rules under CARF; first deadline set for May 2027 appeared first on CoinJournal.