Pi Network Enters the AI Arena
The controversial crypto project Pi Network has recently made its first investment in the artificial intelligence (AI) sector. This move is part of an effort to enhance the utility of its native token, PI, and integrate it into real-world applications.
Pi Network Ventures has partnered with OpenMind, a company specializing in developing an operating system for robots. This collaboration signifies Pi Network's initial step into the burgeoning AI landscape. The partnership also includes a completed proof-of-concept project where volunteer Pi Node operators have been running image recognition AI models for OpenMind.
Further developments surrounding Pi Network include renewed speculation about its participation in the ISO 20022 initiative and the official activation of Testnet2 v23. These advancements may be contributing to PI's recent performance, as it has been among the top-performing cryptocurrencies over the past week. As of this writing, PI is trading just below $0.25, marking a 20% increase over a seven-day period, although it has seen a 4% decline in the last 24 hours.
XRP Price Forecasts and Ripple's Acquisitions
Ripple's cross-border payment token, XRP, is currently valued at approximately $2.50, reflecting a 12% increase over the past two weeks. Several significant acquisitions by Ripple are thought to be contributing factors to this price surge.
Recently, Ripple announced the successful conclusion of its acquisition of Hidden Road, a deal valued at an impressive $1.25 billion. In addition to this, the company also invested $1 billion to acquire the software provider GTreasury.
Multiple market analysts are expressing optimism about XRP's future growth potential. Following EGRAG CRYPTO's "10% Theory," one prediction suggests that XRP's price could potentially reach between $5.50 and $6.00 during the current bull run. Another analyst, XForceGlobal, has offered an even more bullish outlook, describing a rally above $10 as a "conservative target."
Ethereum (ETH) Poised for a Rally?
Ethereum, the second-largest cryptocurrency by market capitalization, experienced a significant downturn during the recent market correction, with its price briefly falling below $3,700. However, the bulls have managed to regain some ground, and Ethereum's valuation now stands well above $3,800.
Several positive indicators suggest that a more substantial rally for ETH could be imminent. Notably, there has been a reduction in the amount of ETH tokens held on exchanges, which can decrease immediate selling pressure. Data shared by X user Ali Martinez indicated that approximately 200,000 ETH tokens were moved from centralized platforms to self-custody methods within a 48-hour period.
However, a subsequent clarification from Martinez highlighted that around 230,000 ETH tokens were transferred by large holders, likely including exchanges, over the past week. These movements could encompass deposits, withdrawals, or internal transfers, and therefore do not necessarily represent a definitively bullish signal on their own.