Pi Network Skyrockets: What's Driving the Pump?Buy Monero Reddit Plus, Ethereum's Intraday Gain Percentage Unveiled!

In the volatile world of cryptocurrencies, Pi Network has recently caught the eye of investors and enthusiasts alike with its remarkable price surge. Meanwhile, Ethereum, a long - standing heavyweight in the crypto space, also shows its own intraday performance. Let's dive into the details of these two digital assets.

Pi Network's Phenomenal Surge

Pi Network is a novel cryptocurrency project that stands out for its mobile - device mining model. Users can participate in mining simply by downloading the app on their phones and clicking a button daily. This low - barrier approach has enabled Pi Network to rapidly amass a large user base.

In the past, Pi Network has witnessed significant price movements. For instance, within a 24 - hour period, Pi's performance outshined all the top 100 cryptocurrencies. According to CoinMarketCap, Pi soared to a new peak of nearly $3, and its market cap soared to over $18 billion (though this figure is yet to be verified). The asset's price reached a new all - time high of $3 a few hours ago and is currently trading at around $2.50, marking a 35% daily increase.

There are several factors driving this pump. First, speculation around potential obligations has fueled the rally. More than 86% of voters support including the token on exchanges. The most likely trigger for the price increase is the speculation that Binance is about to list the asset. Such a listing on a major exchange would greatly enhance the token's liquidity and visibility, attracting more investors.

Previously, the Pi Network's main - net price was $1.6980, with a 22.75% increase within 24 hours, fluctuating between $1.3317 and $2.1536. Its token economic model shows a circulating supply of 6,041,000,000 PI and a maximum supply of 10 billion PI. If the reported market cap of over $18 billion is accurate, Pi would rank as the 11th - largest cryptocurrency, trailing behind Tron (TRX), Cardano (ADA), and Dogecoin (Doge).

FAQ about Pi Network

Q: Is Pi Network a reliable investment?A: The cryptocurrency market is highly volatile and speculative. While Pi Network has shown significant price movements, the reported market - cap figures are yet to be verified. Also, the regulatory environment for cryptocurrencies is still evolving. So, DYOR (Do Your Own Research) before making any investment decisions.

Q: What makes Pi Network different from other cryptocurrencies?A: Pi Network uses a mobile - device mining model, which is different from traditional mining methods. This allows more people to participate in mining with minimal effort, thus attracting a large user base.

Ethereum's Intraday Gain Percentage

Ethereum, the second - largest cryptocurrency by market cap, also presents interesting intraday performance. Looking at CoinShares Physical Ethereum ETFs, we can get a glimpse of Ethereum's short - term price movements.

On July 31, the CoinShares Physical Staked Ethereum (ETH) in USD terms had a value of 112.94, with an increase of 0.18 (+0.16%) on the day. The intraday range was between 112.94 and 115.96, and its 52 - week range was from 42.84 to 120.00.

In EUR terms, the CoinShares Physical Staked Ethereum (ETH) was at 100.00, with a gain of 2.11 (+2.16%) on the day. The intraday range was from 100.00 to 101.22, and the 52 - week range was from 39.00 to 113.80.

Ethereum's performance is influenced by multiple factors. Its underlying blockchain technology is widely used for decentralized applications (dApps) and smart contracts. Developments in the Ethereum 2.0 upgrade, which aims to improve scalability, security, and energy efficiency, can also have a significant impact on its price. Moreover, overall market sentiment towards cryptocurrencies, regulatory news, and macro - economic factors all play a role in determining Ethereum's intraday and long - term price trends.

FAQ about Ethereum

Q: How does the Ethereum 2.0 upgrade affect its price?A: The Ethereum 2.0 upgrade is expected to address some of the scalability issues of the current Ethereum network. If the upgrade is successful, it could enhance the network's performance, attract more developers and users, and potentially increase the demand for Ether, thereby having a positive impact on its price. However, the market's reaction is also subject to other factors.

Q: Are Ethereum ETFs a good way to invest in Ethereum?A: Ethereum ETFs provide a more accessible way for traditional investors to gain exposure to Ethereum without directly holding the cryptocurrency. They offer diversification and are regulated in some cases. However, like all investments, they come with risks, such as market volatility and the performance of the fund manager.

Conclusion

The cryptocurrency market is full of surprises, as demonstrated by Pi Network's recent price surge and Ethereum's intraday performance. Pi Network's pump is driven by speculation around potential exchange listings and community support. Meanwhile, Ethereum continues to be a major force in the crypto world, with its price influenced by technological developments and broader market trends. As always, investors should approach the cryptocurrency market with caution, stay informed about the latest news and developments, and make decisions based on thorough research.