As a seasoned researcher with over a decade of experience in the crypto space, I’ve witnessed more than my fair share of projects that have promised the moon but delivered little more than dust. The Pi Network’s saga is a classic example of this trend, and their latest extension of the KYC deadline to December 31, 2024, raises yet another red flag. I’ve seen enough broken promises in my time to fill a warehouse, so I’m not holding my breath for Pi Network’s mainnet launch.
TL;DR
- Pi Network extended its KYC submission deadline to December 31, 2024, raising skepticism due to ongoing delays and broken promises.
- Cardano’s ADA soared 190% monthly, with bullish predictions suggesting potential highs of $5 to $10 this cycle.
- Ethereum (ETH) hit a six-month high of $3,700, driven by rising ETF inflows, with 88% of holders currently in profit.
The Latest Pi Network News
The Pi Network, a contentious cryptocurrency initiative that lets users mine digital assets directly from their smartphones, continues to generate discussion within the realm of cryptocurrencies. Despite its existence for more than five years, it hasn’t launched its native token or mainnet yet, leading to concern and confusion among its supporters, with some questioning the project’s authenticity due to repeated delays and lack of clear information.
Previously, the Pi Network’s team stated that significant advancements would take place once every user completed the Know-Your-Customer (KYC) process. Originally, they had until late September to complete this process, but later, the deadline was pushed back to November 30th.
Lately, the developers have pushed back the date for submitting KYC applications (dubbed as “the initial grace period”) to December 31st.
The deadline for the final Grace Period remains December 31, 2024. This extension allows all Pioneers enough time to acquire their Pi, while keeping the initial 6-month Grace Period intact. To avoid losing your opportunity, submit your KYC application and complete your Mainnet Checklist by December 31, 2024. Don’t delay – act now!
We have yet to see if this will be the final extension or yet another broken promise by the team.
ADA Price Predictions
Recently, the digital currency Cardano’s ADA has been drawing attention due to its significant price surge. At present, it is trading at approximately $1.06, according to CoinGecko’s data, marking an impressive 190% increase over the past month.
According to several analysts, they think the current surge is only getting started. Content creator Jake Gagain has vowed to delete his X account if Cardano (ADA) doesn’t reach $5 during this bull market, while Dan Gambardello predicts that once it surpasses the $1 resistance, its price could soar as high as $10.
Simultaneously, significant Cardano investors have been active recently, indicating continued upward momentum in its value. User Ali Martinez reported that these substantial investors acquired approximately 130 million tokens during the recent market downturn.
How’s ETH Doing?
To round things off, let’s discuss Ethereum (ETH), which is now closing the gap with market leaders. This week, it surged to a six-month high of nearly $3,700, and currently, it’s hovering around $3,570. The resurgence of ETH can be attributed to growing investments in U.S.-based spot Ether ETFs.
In my research as a crypto analyst, I discovered that yesterday (November 28), over 90% of Ethereum investors found themselves in a position with paper profits. This is the highest level since June that I’ve observed. At this moment, I’m reporting that approximately 88% of ETH holders are still enjoying these profits.
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2024-11-29 11:16