PI is the best-performing top 100 cryptocurrency today (February 13).

The cryptocurrency market made another move south in the past 24 hours, with most leading digital assets (including BTC) charting minor losses.

Somewhat surprisingly, Pi Network’s PI has defied the bearish environment, posting a daily gain of around 8%.

Finally in Green

Pi Network’s native cryptocurrency has been in a sharp decline over the past several months, disappointing its huge base of proponents and investors. Just a few days ago, its price dropped to a new all-time low of around $0.13, while its market cap plunged to around $1.1 billion.

Over the last 24 hours, though, the bulls stepped in, and PI reached almost $0.15. Its capitalization once again surpassed $1.3 billion, making it the 55th-largest cryptocurrency.

The notable resurgence comes shortly after the team behind the project provided an update on its Node infrastructure. The developers revealed that the Pi Mainnet blockchain protocol is undergoing a series of improvements and set a deadline of February 15 for the first upgrade.

The Core Team explained that it will run the consensus algorithm with Pioneers who have applied to become Nodes and have successfully installed all required blockchain software on their computers.

“While our hope is to include as many Pioneers as possible when defining the Node requirements, the availability and reliability of individual nodes in the network affect the safety and liveness of the network,” the official announcement reads.

PI’s price revival also coincides with a slowdown in token unlocks. Approximately 19 million coins are scheduled for release today (February 13), marking the record day for the next 30 days. Towards the end of the month, the daily unlocks are expected to drop below 5 million, which could reduce selling pressure and help stabilize the price.

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The Recent Rumors

Earlier this month, some X users speculated that Kraken is preparing to allow trading services with PI. Such support from one of the leading crypto exchanges would likely have a positive price impact on the asset, as it would increase its liquidity and availability and improve its reputation.

Perhaps the biggest boost will be if Binance decides to embrace PI. The world’s largest crypto exchange was expected to do so last year and even held a community vote to determine whether its users wanted the token listed on the platform. Despite the overwhelming support, Binance has yet to honor their wish.

A US-based structured-credit firm is pushing TradFi boundaries by integrating crypto into real-world lending. Newmarket Capital, managing nearly $3 billion in assets, is pioneering hybrid mortgage and commercial loans that leverage Bitcoin (BTC) alongside conventional real estate as collateral.

Its affiliate, Battery Finance, is leading the charge in creating financial structures that leverage digital assets to support credit without requiring borrowers to liquidate holdings.

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Bitcoin to Reshape Mortgages and Real-World Lending

The initiative targets borrowers who are crypto-asset holders, including tech-savvy Millennials and Gen Z. It provides a path to financing that preserves investment upside while enabling access to traditional credit markets.

By combining income-producing real estate with Bitcoin, the firm seeks to mitigate volatility risk while offering borrowers a novel lending solution.

According to Andrew Hohns, Founder and CEO of Newmarket Capital and Battery Finance, the model involves income-producing properties, such as commercial real estate, paired with a portion of the borrower’s Bitcoin holdings as supplemental collateral.

Bitcoin is valued as part of the overall loan package, providing lenders with an asset that is liquid, divisible, and transparent, unlike real estate alone.

“We’re creating credit structures that produce income, but by integrating measured amounts of Bitcoin, these loans participate in appreciation over time, offering benefits traditional models don’t provide,” Hohns explained in a session on the Coin Stories Podcast.

Early deals demonstrate the concept, with Battery Finance refinancing a $12.5 million multifamily property using both the building itself and approximately 20 BTC as part of a hybrid collateral package.

Borrowers gain access to capital without triggering taxable events from selling crypto, while lenders gain additional downside protection.

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Institutional-Grade Bitcoin Collateral

Unlike pure Bitcoin-backed loans, which remain experimental and niche, Newmarket’s model is institutional-grade:

• It is fully underwritten
• Income-focused, and
• Legally structured for US regulatory compliance.

Bitcoin in these structures is treated as a collateral complement rather than a standalone payment method; mortgage and loan repayments remain in USD.

“Bitcoin adds flexibility and transparency to traditional lending, but the foundation is still income-producing assets,” Hohns said. “It’s a bridge between digital scarcity and conventional credit risk frameworks.”

The approach builds on a broader trend of integrating real-world assets (RWA) with digital holdings. In June 2025, federal agencies like the FHFA signaled in mid-2025 that crypto could be considered for mortgage qualification,

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However, private lenders like Newmarket Capital are moving faster, operationalizing hybrid collateral structures while adhering to existing regulatory frameworks.

Newmarket and Battery Finance’s work illustrates how Bitcoin and other cryptocurrencies can interface with TradFi as tools to unlock new forms of lending and credit.

Still, challenges exist. BeInCrypto reported that despite Fannie Mae and Freddie Mac’s plans to accept Bitcoin as mortgage collateral, there is a catch.

The Bitcoin must be held on regulated exchanges. Bitcoin in self-custody or private wallets won’t be recognized.

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This raises concerns about financial sovereignty and centralized control. Policy limits Bitcoin’s use in mortgage lending to custodial, state-visible platforms, excluding decentralized storage.

“This isn’t about adoption vs. resistance. It’s about adoption with conditions. You can play— …but only if your Bitcoin plays by their rules. Rules designed for control…As adoption deepens, pressure will mount for lenders to recognize properly held Bitcoin—not just coins on an exchange…Eventually, the most secure form of money will unlock the most flexible capital,” one user remarked.

Nevertheless, while this innovation is not a solution to housing affordability, it represents a meaningful step toward mainstream adoption of crypto in real-world finance.

Bitcoin (BTC) is approaching “undervalued” territory for the first time in three years as a classic indicator nears its inflection point.

Key points:

• Bitcoin has not been so “undervalued” versus its market cap since March 2023, research shows.

• The MVRV ratio is approaching its key breakeven level for the first time in over three years.

• MVRV analysis sees Bitcoin in the process of reversing its downtrend.

Bitcoin value metric echoes $20,000 price

Research from onchain analytics platform CryptoQuant released on Friday reveals key developments on Bitcoin’s market value to realized value (MVRV) ratio metric.

A classic BTC price gauge, the MVRV ratio compares Bitcoin’s market cap to the price at which the supply last moved, also known as its “realized cap.”

Values below 1 imply that the supply is undervalued at current prices. Last week, as BTC/USD dropped below $60,000, MVRV hit 1.13 — its lowest reading since March 2023, when it traded at just $20,000.

“Following its all-time high in October 2025, Bitcoin has been in a downtrend for approximately four months and is now approaching what can be considered an undervalued zone,” CryptoQuant contributor Crypto Dan commented. 

“Generally, when the MVRV ratio falls below 1, Bitcoin is regarded as undervalued. At present, the indicator stands at around 1.1, suggesting that price levels are nearing the undervaluation range.”

MVRV last registered below 1 at the start of 2023. At the time of Bitcoin’s latest all-time high last October, the ratio peaked at 2.28.

Crypto Dan questioned the validity of Bitcoin’s 52% drop from all-time highs. Neither the top nor the bottom, he argued, was characteristic of typical MVRV behavior.

“However, unlike previous cycles, Bitcoin did not experience a sharp rise into a clearly overvalued zone during the recent bull cycle,” the research post continued. 

“This distinction is important to recognize. As a result, the current decline may also differ from past market bottoms, and it appears necessary to respond with this possibility in mind.”

Bitcoin price bottom “being forged right now”

In January, Cointelegraph reported on early signs that BTC price action may be preparing a trend reversal.

Related: Binance teases Bitcoin bullish ‘shift’ as crypto sentiment hits record low

On two-year rolling time frames, the Z-score of the MVRV ratio, which divides its readings by the standard deviation of market cap, recently fell to historic lows.

“The current Z-Score of $BTC is lower than during the bear market bottom in 2015, 2018, COVID crash 2020 and 2022,” crypto trader, analyst and entrepreneur Michaël van de Poppe observed at the time.

This week, CryptoQuant contributor GugaOnChain used another Z-score iteration to show that BTC/USD was in a “capitulation zone.”

“The indicator suggests that we are approaching the historical accumulation phase,” he wrote in an accompanying post. 

“The statistical deviation of the Z-Score screams opportunity, signaling that the bottom of this downtrend is being forged right now.”