Major Pi Network Updates, Bitcoin (BTC) Price Resurgence, and More: Bit Roundup October 28

TL;DR

PiFest starts on October 29 and encourages the use of Pi chips in local commerce. Merchants can list on the “Pi Map” for easier discovery. BTC fluctuated between $65,500 and $68,500 in the last seven days; Next week’s US election could affect its price performance. Cat-themed tokens POPCAT and MEW saw big gains recently, although the latter is down 17% from its peak. Development of the Pi network

The controversial cryptocurrency project, which aims to allow people to mine digital assets on their smartphones, continues to make headlines.

More recently, the team revealed that PiFest (a special event that aims to encourage the actual use of Pi chips for local commerce) will begin on October 29th. Merchants will be able to list their stores on a dedicated “Pi Map”. making it easy for shoppers to find them via a PiOS app.

“Get involved to increase the real utility of Pi and empower local businesses to integrate Pi into their operations. Go to the Pi home screen and read the PiFest guidelines to learn more about how traders and pioneers can get involved ,” the ad says.

Remember, Pi Network saw the light of day five years ago, but its native token and open mainnet have yet to go live. This has caused frustration in the community, with some members calling the project a scam.

Despite numerous delays, developers insist that a mainnet launch is on the horizon. The Pi Core Team is supposed to shed more light on the roadmap (which should allow buying and selling of Pi chips) in December this year.

BTC Price Outlook

The major cryptocurrency saw significant volatility last week, with the price fluctuating between $65,500 and $68,500. It is currently trading near the top mark, showing signs that a new uptrend could be on the cards.

BTC Price, Source: CoinGecko

Some important factors that can cause substantial BTC price swings in the short term include Federal Reserve policy and the upcoming US presidential election.

The vote is scheduled for next week (November 5), with Republican Donald Trump facing Democrat Kamala Harris. Many believe Trump’s potential win could fuel a bull run for the cryptocurrency market based on its support for the asset class in recent months.

According to Polymarket, the billionaire has a 66.8% chance of emerging victorious, while Harris is the underdog with 33.4%. National polls, however, indicate that the Democratic candidate has a slight lead: 48.1% to 46.7%.

Memes of cats on the run

Last but not least, we’ll touch on certain cat-themed meme coins that have recently taken center stage. The largest by market capitalization, Popcat (POPCAT), is up nearly 70% monthly, hitting a new all-time high last week. It is currently the 61st largest cryptocurrency and the 5th largest in the meme coin niche.

POPCAT Price, Source: CoinGecko

Another such witness experiencing a bull run is Cat in a Dogs World (MEW). It recorded a double-digit price increase on October 21 after the main Korean crypto exchange listed the MEW/KRW trading pair. The asset’s valuation continued to rise in the following days, reaching an ATH on October 24.

Since then, however, MEW has fallen. It is currently trading around $0.009497, which represents a 17% drop from the peak.

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