Pi Network Price Crashes After Mainnet Launch, Rivals Gain Attention

The highly anticipated mainnet launch of Pi Network was met with disappointment as the Pi coin price plummeted by over 50%, wiping out nearly $6 billion in market value. According to market data, the coin’s market capitalization initially stood at $10 billion before dropping to $4.1 billion.

Pi Network Price Crash: What Went Wrong?

The Pi Network price crash was in line with earlier analysis, which cited increased selling by pioneers and the fact that most recent airdrops have crashed. This has led investors to look into alternative cryptocurrencies, including top Pi Network rivals.

Top Pi Network Rivals to Consider

Some of the top Pi Network rivals or alternatives to consider are:

  • Bitcoin: As a potential alternative to Pi Network, Bitcoin offers strong fundamentals, including strong ETF inflows and falling exchange balances.
  • Binance Coin: With its expanding ecosystem and highly deflationary nature, BNB is a Pi Network rival worth considering.
  • Chainlink: As the largest oracle network in the crypto industry, Chainlink provides essential services to major platforms and has secured partnerships with major institutions.
  • Polkadot: Despite its recent price crash, Polkadot remains a contrarian Pi coin rival due to its ongoing transition to Polkadot 2.0 and bullish technical indicators.

Why Bitcoin Remains a Top Choice

Bitcoin has historically been one of the best-performing cryptocurrencies, rising from below $1 in 2009 to $109,200 this year. Its strong fundamentals and technical indicators make it a top choice for investors.

Bitcoin has formed a cup and handle pattern and a bullish flag that may push it higher over time.

Binance Coin: A Highly Deflationary Asset

BNB’s ecosystem is expanding, supported by dApps such as PancakeSwap and Thena. The network burns BNB tokens worth over $1 billion each quarter, making it a highly deflationary asset. The BNB price has also formed a cup-and-handle pattern that may push it above $1,000 in the near term.

Chainlink: A Leading Oracle Network

Chainlink is a big player in the Real World Asset tokenization industry through its Cross Chain Interoperability Protocol. The project has secured partnerships with major institutions, including Swift, UBS, ANZ, World Liberty Financial, and Coinbase.

Polkadot: A Contrarian Play

Despite its recent price crash, Polkadot remains a contrarian Pi coin rival due to its ongoing transition to Polkadot 2.0 and bullish technical indicators. The project’s main catalyst is the introduction of features friendly to developers, which could drive its price to the 50% retracement level at $30, representing a 500% increase from current levels.

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