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Pi Network’s Price Hits Another ATL but PI Community Looks Ahead to a New Phase

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Pi Network's Price Hits Another ATL but PI Community Looks Ahead to a New Phase


PI keeps digging new lows.

The substantial correction that began last week and culminated (for now) yesterday evening has not been kind to Pi Network’s native token.

The asset, which launched just over a year ago, doesn’t seem to have found a bottom and marked yet another all-time low.

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Recall that PI was actually trading quite promisingly during the November crash when BTC, ETH, and most larger-cap alts were suffering. It remained well above $0.20 and even challenged $0.30 at one point, but to no avail.

The following month and a half were quite sluggish, and PI failed to move alongside the market in either direction. However, its $0.20 floor gave in mid-January and has been a straight-on calamity since then.

CryptoPotato repeatedly reported on the asset’s new lows. It finally regained some traction on Saturday morning, but the market-wide crash hours later drove it south hard yet again. This time, the bears took it to its latest ATL of $0.1527 (CoinGecko data). This meant a 94.8% decline in less than a year since it launched.

Nevertheless, its community continues to be hopeful about a turnaround. Pi News, arguably the most popular news-related channel outside the official Pi Network account, outlined that “PI is not just a coin, it’s a movement.”

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They speculated about some sort of “new era” that is “about to begin,” claiming that Pi Network started on mobile, but it’s now evolving into a global digital currency.

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So far, this prediction has yet to materialize, but the Pi Network Core Team continues to introduce frequent updates to the overall ecosystem, which could be a silver lining after the latest crash.

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Crypto World

Arizona Judge Blocks Gambling Enforcement Against Kalshi Contracts

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Arizona Judge Blocks Gambling Enforcement Against Kalshi Contracts

A federal judge in Arizona has temporarily barred state officials from enforcing gambling laws against Kalshi, siding with the CFTC.

A federal judge in Arizona has temporarily barred state officials from enforcing gambling laws against Kalshi, siding with US regulators in a growing dispute over how event-based trading products should be classified.

In an order issued on Friday, Judge Michael Liburdi of the US District Court for the District of Arizona granted a request from the Commodity Futures Trading Commission (CFTC) and the federal government to halt any state-level action targeting contracts listed on CFTC-regulated markets .

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The ruling centers on whether Kalshi’s “event contracts” fall under federal derivatives law or state gambling statutes. Last month, Arizona authorities sought to pursue enforcement against Kalshi under local gambling rules, but the CFTC asked a court order on Wednesday to stop the action.

The court said that the CFTC is likely to succeed in arguing that such contracts qualify as “swaps” under the Commodity Exchange Act, placing them within federal jurisdiction. The law grants the agency exclusive authority over swaps traded on designated contract markets.

Related: Prediction market users await Artemis II mission splashdown

Court halts Arizona enforcement against Kalshi

As part of the decision, Arizona officials are temporarily prohibited from initiating or continuing civil or criminal enforcement tied to Kalshi’s event contracts on regulated exchanges .

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The restraining order will remain in effect until April 24, while the court considers whether to issue a longer-term preliminary injunction.

Kalshi notional volume. Source: Kalshidata

The case adds to a broader debate over prediction markets in the United States, particularly as regulators and states clash over whether such products resemble financial instruments or online betting. Last month, Utah lawmakers also passed a bill targeting Kalshi and Polymarket that classifies proposition-style bets on in-game events as gambling, aiming to block such offerings in the state.

Related: US appeals court upholds preventing New Jersey enforcement against Kalshi

Nevada judge extends ban on Kalshi

Last week, a Nevada judge extended a ban preventing Kalshi from offering event-based contracts in the state, siding with regulators who argue the products amount to unlicensed gambling.

The court found that the platform’s offerings closely resemble traditional sports betting. The judge said there is no meaningful distinction between placing a wager through a sportsbook and buying a contract tied to an event outcome, concluding that such activity falls under Nevada’s gaming laws.

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