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Pi Network Updates, Shiba Inu (SHIB) Developments, and More: Bits Recap Dec 27
As the cryptocurrency market continues to fluctuate, it’s essential for investors to stay informed about recent updates in the crypto space. In this recap, we will discuss Pi Network’s latest delay, as well as significant developments from Shiba Inu.
Firstly, let’s address the Pi Network’s Open Network launch delay. The project has been plagued by numerous delays and has yet to deliver on its promises of a mainnet and native token. Despite initial statements indicating that the open network would be ready by September 30th, Pi Network pushed back its release date once again. These constant setbacks have led to concerns about the reliability of the platform.
In contrast, Shiba Inu (SHIB) has been making significant strides in recent months. The project’s ecosystem expansion includes blockchain-based games Shiboshi Rush and Shiba Eternity, as well as the layer-2 scaling solution Shibarium. This evolution showcases SHIB’s growth from a meme coin to a more substantial entity.
Regarding Bitcoin’s price condition, we will provide an update on its current state. On December 17th, BTC reached an all-time high of over $108,000 before plummeting by 12% and reaching the current value of around $95,000. This downfall began shortly after the Federal Reserve announced another rate cut.
The possibility that this policy might be paused in the future due to rising inflation concerns has added fuel to the fire. Notably, Jerome Powell, chairman of the Federal Reserve, expressed reservations about establishing a strategic BTC reserve in the United States. Additionally, market experts suggest that an increased exchange netflow could intensify Bitcoin’s correction in the short term.
It is crucial for investors to remain informed and adaptable in this rapidly evolving space.
Source: cryptopotato.com
