News Desk
WASHIGTON: The cryptocurrency market experienced contrasting trends over the weekend, with Pi Network emerging as a standout performer while most major tokens remained under pressure. Pi Network saw a dramatic 40% price surge, recovering from an all-time low just days prior.
The altcoin rallied quickly, regaining over 50% of its lost value and peaking around $0.65. This impressive turnaround came amid a largely stagnant altcoin market, surprising both investors and analysts. Although no official announcements explained the rally, speculation over upcoming project updates and renewed community engagement fueled interest.
Market watchers suggest the performance may reflect a growing investor appetite for undervalued assets, though they caution that such rapid gains can bring elevated risk and volatility. Bitcoin showed considerable price volatility throughout the past week, influenced by global economic and political developments. After starting the week with a dip to $81,600, BTC briefly spiked to $88,500 midweek on speculation involving Elon Musk’s political affiliations.
However, the rally was short-lived as US tariff announcements and responsive measures from China triggered renewed market jitters. Despite these swings, Bitcoin managed to stabilize over the weekend and is currently trading above $83,000. The flagship cryptocurrency holds a dominant 59.8% market share and a total market capitalization of $1.65 trillion.
The total crypto market capitalization dropped by nearly $20 billion over the weekend, bringing the overall value below $2.77 trillion. This broader decline came despite isolated gains from tokens like Pi Network, as leading assets such as Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), and Solana (SOL) closed in the red. Analysts attribute the downturn to a mix of economic pressures, risk-averse sentiment, and capital outflows—particularly from altcoins.
