Pi Network's Token Grows 40% Weekly as Bitcoin Struggles Near $68K
The Pi Network's token stands out with a significant weekly increase, while Bitcoin battles to maintain its position around $68K.
Bitcoin continues to experience a lackluster performance around the $68,000 mark, dipping below this level multiple times within the last day.
The Pi Network, with its native token, has emerged as the standout performer in the larger altcoin market, boasting a gain of 40% over the past week, following a sharp drop to an all-time low of $0.1312.
Bitcoin Struggles at $68K
The first trading week of this month saw Bitcoin suffer a major setback, plummeting to $60,000—a drop of $30,000 within a week. Fortunately, the bulls entered the market, propelling Bitcoin back up to $70,000, but this rally was short-lived as it faced selling pressure soon after.
Currently, Bitcoin’s market capitalization remains steady at $1.365 trillion, but its dominance over smaller altcoins has dipped to 56.2%.
BTCUSD Chart
BTCUSD Chart. Source: TradingView
Weekly Surge of Pi Network
In the same timeframe, Ethereum saw a slight increase of 2% and is hovering above $2,000, while other assets like XRP, BNB, and DOGE show minor movements. However, the real highlight is the Pi Network, whose token surged over 40%, now trading close to $0.19 after another daily gain of 6%.
The total cryptocurrency market capitalization has grown by over $25 billion recently, now reaching approximately $2.430 trillion.
