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Pi coin price prediction amid Pi Network domain update concerns

  • The price of Pi coin has dropped 60% amid a weak response to the .pi domain update.
  • Exchange inflows and token unlocks signal bearish pressure.
  • Users have raised concerns over security and stalled ecosystem growth.

The Pi Network ecosystem is facing growing uncertainty as concerns over its .pi domain auction weigh heavily on the price of its native token, Pi.

Pi coin, which once soared to $1.50 in April, has fallen sharply, now hovering around the $0.60 mark.

This decline has sparked fresh speculation about the network’s long-term prospects and the token’s immediate price trajectory.

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

Pi token drop raises red flags across the community

The recent 60% decline in Pi’s price over the past month has rattled users and investors alike.

Although the Pi Core Team has launched a dedicated app for the .pi domain auction, the update has not delivered the ecosystem-wide uplift many had hoped for.

The domain auction, which introduced features like real-time statistics and email notifications, was meant to showcase utility and expand digital participation.

However, critics argue that the changes have failed to address deeper platform issues, including KYC delays and limited business adoption.

Adding to these frustrations, users are increasingly vocal about the lack of new listings, app integrations, or smart contract functionalities.

These gaps are compounding scepticism as Pi Network prepares for its next major event—Pi2Day on June 28.

Pi Network domain auction engagement falls short

While more than 3 million Pi tokens have been spent on .pi domain bids so far, representing roughly $1.8 million in estimated value, the impact appears modest compared to the network’s daily trading volume.

The low conversion of domains into actual utility—like live websites, businesses, or dApps has also drawn criticism. Many domains have been snapped up for speculative purposes, such as squatting on generic terms or brand names.

Despite Pi Network’s emphasis on utility, developers and merchants have yet to actively leverage these domains to anchor meaningful services. The absence of such applications continues to dampen momentum around the initiative.

CEX inflows spark fears of market dump

Trading volumes for Pi rose 60% over the past 24 hours, yet this surge was not backed by bullish sentiment.

Instead, centralised exchanges recorded large inflows, a move typically seen when holders prepare to sell.

Gate.io led the pack with over 1.3 million PI deposited, followed by OKX and Bitget. These figures point to a potential coordinated sell-off that may place further pressure on already fragile support levels.

At the same time, around 11 million PI tokens are being unlocked daily, adding to the oversupply problem.

With current demand stagnant, this unlock schedule raises fears of an extended price dip.

Security concerns add to the bearish sentiment

Amid the.Pi domain auction concerns and the surging trading volume void of a bullish market sentiment, the community’s mood has taken another hit following reports of a password leak tied to PiChain Global.

Users were urged to take urgent steps to secure their Pi accounts and bind their email addresses to the Pi Chain Mall platform.

This incident, though isolated, has highlighted broader concerns over the platform’s readiness to handle mainstream adoption.

It has also led to increased calls for multi-layered security and better identity verification mechanisms.

Although the Pi Core Team responded quickly with procedural recommendations, the damage to confidence may take time to repair.

The Pi coin price outlook hinges on clearer utility

Technically, Pi coin is consolidating between $0.57 and $0.60, but analysts caution that support at this level is under serious threat.

While some indicators suggest a possible rebound toward $0.67, overall momentum remains bearish.

Without a strong catalyst—such as a surprise exchange listing or a major feature announcement during Pi2Day—most signals point toward continued sideways or downward movement.

The MACD is approaching a bearish crossover, and resistance at $0.66 has proven firm.

As Pi Network works to revive community engagement, investors will be watching closely for concrete signs of growth.

Unless the ecosystem delivers on long-promised features and utility, the PI token could continue to slide.

For now, market sentiment remains cautious, and Pi coin’s short-term outlook is clouded by unresolved issues and growing disillusionment within its user base.

The post Pi coin price prediction amid Pi Network domain update concerns appeared first on CoinJournal.

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Crypto wrap: Ethereum ETFs hit ATH, SPX6900 cools off, XRP outlook remains bullish

  • Ethereum ETF holdings hit an ATH as institutional inflows surge.
  • SPX6900 cools after 230% rally, holds key $1.30 support level.
  • XRP remains bullish despite the US SEC case delay to August 15.

Ethereum, XRP, and SPX6900 are moving in different but equally significant directions this week, revealing major developments across the crypto market.

The market is showing signs of rotation, and investor attention is quickly shifting among top altcoins as new narratives unfold.

While institutional accumulation pushes Ethereum ETFs to an all-time high in on-chain holdings, SPX6900 takes a breather after a parabolic rally, and XRP sustains a bullish tone despite ongoing legal hurdles.

Ethereum ETFs reach record on-chain holdings

Institutional interest in Ethereum has sharply intensified, propelling ETF-related on-chain ETH holdings to their highest levels in history.

Recent CryptoQuant data shows that Ethereum ETFs now retain close to 4 million ETH, with BlackRock leading a wave of accumulation that has accelerated throughout June.

Ethereum ETF holdings

Notably, the ETFs have seen strong accumulation momentum even as the price of Ethereum (ETH) remains largely flat around the $2,500 mark.

The spike in inflows, particularly from BlackRock and Grayscale, as depicted by Coinglass data, confirms that large funds are positioning early for a potential ETH rally.

This surge in institutional buying comes amid growing optimism in Ethereum’s broader ecosystem, supported by increased activity in DeFi and rising stablecoin volumes.

The aggressive accumulation further aligns with diminishing exchange reserves and rising staking levels, suggesting that the market is preparing for reduced ETH liquidity and possible upward price pressure.

Notably, the inflows into Ethereum ETFs have surpassed Bitcoin ETFs over recent weeks, marking a significant shift in investor sentiment.

As inflows continue to dominate daily activity, Ethereum may be setting the tone for the next wave of altcoin momentum.

SPX6900 cools down after explosive move

Meanwhile, SPX6900 has cooled off after an extraordinary 230% rally that played out between May and mid-June.

The altcoin’s parabolic move took it from $0.50 to nearly retest its all-time high of $1.77 before losing steam around $1.70.

The rally, which was initially triggered by a golden cross on May 6, followed a textbook parabolic structure with four accelerating legs and shallow pullbacks.

However, a sharp decline in open interest and spot outflows of over $6.4 million on June 14 indicated a decisive shift in sentiment.

SPX6900 open interest decline

Although the correction has been intense, technical indicators suggest that SPX6900 is entering a healthy consolidation phase rather than a full breakdown.

The RSI has cooled from an overheated 75 to around 40, and the MACD has flipped bearish, signalling that momentum is resetting.

Currently trading around $1.39, SPX6900 is holding key support at $1.30. A rebound from this level could see the token test $1.50 again, with a potential retarget of $1.71 if volume returns and sentiment stabilises.

XRP remains resilient despite legal delays

While Ethereum and SPX6900 shift gears, XRP continues to attract bullish interest even as its legal battle with the SEC drags on.

Notably, a joint request from Ripple and the SEC to pause appeals until August 15 has not dampened optimism in the market.

The requested pause is tied to a pending ruling in the Southern District of New York regarding a $125 million escrow and the SEC’s demand for a $50 million penalty.

Although the case remains unresolved, XRP derivatives show that traders are staying confident.

Open Interest in XRP has climbed above $4 billion, and the positive funding rate suggests that leveraged long positions remain in play.

Even though long liquidations have slightly outpaced shorts in the last 24 hours, the market bias remains bullish.

From a technical standpoint, XRP recently bounced off the 200-day EMA and is now attempting to reclaim higher levels around the 50-day and 100-day EMAs near $2.24.

If the price manages to close above those barriers, it could test resistance near $2.33, a level aligned with a trendline connecting the year’s previous peaks.

Despite the indecisive RSI near 49, MACD indicators are leaning bullish, offering signs of a potential upside continuation if momentum follows through.

The post Crypto wrap: Ethereum ETFs hit ATH, SPX6900 cools off, XRP outlook remains bullish appeared first on CoinJournal.

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Hyperliquid price forecast: HYPE pauses price discovery after its ATH

Key takeaways

  • HYPE is up 48% in the last 30 days, overtaking several cryptocurrencies to grab the 11th spot in the market.
  • The coin risks turning the $40 support into a resistance following its recent all-time high achievement.

HYPE down 12% from all-time high

HYPE, the native coin of the Hyperliquid ecosystem, has been one of the top performers in recent weeks. The coin, which launched seven months ago, has added over 1,000% to its value since then and is now the 11th-largest cryptocurrency by market cap.

It surged by 48% over the last 30 days to reach an all-time high price of $45 yesterday. However, it has lost roughly 12% of its value since then and has dropped below the $40 support level, with the bears still in control.

Profit-taking and the Middle East crisis are the major catalysts behind HYPE’s dip

With HYPE losing over 12% of its value in the last 24 hours, analysts are predicting further downward movement in the near term. The primary catalysts behind HYPE’s bearish performance are the ongoing conflict in the Middle East and potential profit-taking.

As stated above, HYPE reached an all-time high price of $45 on Monday, up 48% over the last 30 days. This has seen some investors take profit after an extended period of rally.

According to data obtained from CoinGlass, HYPE’s Open Interest (OI), which represents the number of active futures and options contracts yet to be settled or closed, has declined by nearly 8% to $1.91 billion over the past 24 hours.

A decrease in OI signals declining interest in HYPE and the lack of trader conviction in the price discovery phase. 

In addition to the profit-taking, the ongoing crisis in the Middle East is affecting Bitcoin, Hyperliquid, and the broader cryptocurrency market. With the $40 support now broken, traders could be looking at the next major support level around $36.

HYPE eyes the $36 support level

With the broader cryptocurrency now bearish, HYPE has shifted bearish, at least in the short term. The sell signal from the Moving Average Convergence Divergence (MACD) indicator on the 4H chart shows that sellers are currently overpowering buyers in the market.

HYPE price chart

The blue line is set to cross below the red signal line, indicating a strong bearish momentum. Furthermore, the Relative Strength Index (RSI) has dropped from the overbought territory and is now heading into the 50 midline, signaling a firm bearish grip.

With the $40 support level now broken, the next key support is at around $36.00, with the 50-day Exponential Moving Average (EMA) set at $32.01 and the 100-day EMA at $27.41.

The post Hyperliquid price forecast: HYPE pauses price discovery after its ATH appeared first on CoinJournal.