Recent Pi Network (PI) Updates, Cardano (ADA) Price Targets and More: Bit Roundup November 29

TL;DR

Pi Network extended the KYC submission deadline to December 31, 2024, raising skepticism due to constant delays and broken promises. Cardano’s ADA soared 190% monthly, with bullish predictions suggesting potential highs of $5-$10 this cycle. Ethereum (ETH) hit a six-month high of $3,700, boosted by increased ETF inflows, with 88% of holders currently in profit. The latest news from the Pi network

The controversial Pi Network cryptocurrency project (whose goal is to allow people to mine digital assets from their smartphones) remains a hot topic in the crypto space. Although it has been around for over five years, it has yet to launch its native token and mainnet. The constant delays and lack of clarity have caused frustration throughout the community, with some members questioning the project’s legitimacy.

Earlier this year, the Pi Network team maintained that major breakthroughs will occur once all users have cleared Know Your Customer (KYC) procedures. Initially, they had until the end of September to do so, but the deadline was later extended to November 30.

Most recently, developers moved the deadline for submitting KYC applications (known as “the first grace period”) to December 31.

“The final deadline for the grace period has not changed and is still December 31, 2024. This extension ensures that all pioneers have ample opportunity to protect their Pi while maintaining the overall grace period time period of 6 months without change. Submit your KYC application and complete your Mainnet checklist by December 31, 2024, to avoid any loss. Take action now, don’t wait,” he says the ad

We have yet to see if this will be the ultimate extension or another broken promise by the team.

ADA Price Predictions

Cardano’s ADA has taken center stage lately due to its rapid price increase. It is currently trading around $1.06 (according to CoinGecko data), which represents a 190% increase on a monthly basis.

ADA price, Source: CoinGecko

Several analysts believe that the demonstration has just begun. Popular content creator Jake Gagain promised to delete his X account if ADA doesn’t reach $5 this bull cycle, while Dan Gambardello claimed the price could shoot up to $10 once the $1 resistance is broken.

Meanwhile, Cardano’s whales have been on the move lately, suggesting further upward pressure on the valuation. X user Ali Martinez claimed that large investors bought over 130 million tokens during the last dip.

How is ETH doing?

Last but not least, we’ll talk about Ethereum (ETH), which has finally started to catch up with the market leaders. Earlier this week, it hit a six-month high of nearly $3,700, while it currently sits at around $3,570. The renaissance of ETH is due to the increase in spot inflows of Ether ETFs in the United States.

ETH price, Source: CoinGecko

The resurgence in prices benefited investors in the asset. At one point yesterday (November 28), over 90% of all ETH holders were sitting on some paper profit, the highest level seen since June. At the time of writing, the percentage is set at around 88%.

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