Pi Network\u2019s native token experienced heightened volatility over the past several days, driven by excitement about an upcoming ecosystem event and broader market dynamics.<\/p>\n
Solana\u2019s SOL plunged 10% on a weekly basis and risks further declines, while Zcash (ZEC) lost its prestigious spot among the ten largest cryptocurrencies.<\/p>\n
The token has been in a steep downfall over the last few months, and its condition worsened at the start of November, when it tumbled<\/a> to a new all-time low of around $0.063.<\/p>\n Earlier this week, the higher-than-expected inflation in the US poured<\/a> another cold shower on the cryptocurrency market, but instead of following the red wave, PI surprisingly headed north and exceeded<\/a> $0.07. X account BSCN said the ascent appeared technical as the token emerged from an oversold situation, along with a small increase in open interest for derivatives contracts.<\/p>\n The team also focused on the upcoming Ecosystem Summit, which may have sparked enthusiasm across the community. The three-day online event is set for November 17-19 and will feature<\/a> platform updates, developer-tool demonstrations, app showcases, and discussions between devs and the Core Team.<\/p>\n The resurgence was short-lived, and PI plunged below $0.07 again. As of press time, its market capitalization stands at roughly $790 million, making it the 82nd-biggest cryptocurrency.<\/p>\n Solana\u2019s native cryptocurrency is down 25% for the month and is currently trading near $80. Numerous market participants have analyzed its performance lately, with X user Mookie saying<\/a> the price is nearing \u201ca big test\u201d at $78. In their view, holding this level could trigger \u201ca good bounce,\u201d yet losing it might result in a crash to as low as $63.<\/p>\n Meanwhile, the lack of institutional demand supports the bearish scenario. Spot SOL ETFs have been bleeding<\/a> heavily in the past several weeks, with the last day inflows exceeded outflows being October 21.<\/p>\n Of course, not everyone is pessimistic, as some analysts view the current conditions as a perfect buying opportunity. ZAYRO \u20bf, for instance, argued that SOL is nearing the end of its \u201cmanipulation\u201d phase and is about to enter the distribution zone, where a major pump is expected. The analyst thinks \u201ceverybody will be crying about not buying\u201d now, adding that Solana at these prices is \u201cpractically free money.\u201d<\/p>\n The popular privacy coin is among the worst-hit cryptocurrencies after the latest correction, with its price nosediving 25% in the last week. Just a few days ago, it fell<\/a> below $1,000 for the first time since the start of September and is currently worth $950 (per CoinGecko).<\/p>\n X user Altcoin Sherpa believes the ultimate bottom could arrive at the $800-$900 range, while Crypto Patel projected a potential collapse to the $200-$500 zone.<\/p>\n Meanwhile, Lookonchain recently revealed that a mysterious whale who previously opened a 10x long on 18,000 ZEC ($17.63 million) suffered a major loss of over $2.8 million (at least on paper). The entity also disclosed that the trader would be fully liquidated if ZEC collapses to around $895 (as it briefly did), unless they provide additional collateral to keep the position open.<\/span><\/p>\n The post Pi Network (PI) Hit by Volatility, Solana (SOL) Braces for Additional Sell-off: Bits Recap Nov 13<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Pi Network\u2019s native token experienced heightened volatility over the past several days, driven by excitement about an upcoming ecosystem event and broader market dynamics. Solana\u2019s SOL plunged 10% on a weekly basis and risks further declines, while Zcash (ZEC) lost its prestigious spot among the ten largest cryptocurrencies. PI\u2019s Roller Coaster The token has been […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-251129","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251129"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=251129"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/251129\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=251129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=251129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=251129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}More Problems for SOL?<\/h2>\n
ZEC\u2019s Slump<\/h2>\n