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TL;DR Pi Network developers have set the Open Network launch condition at 15 million KYC-verified users, with over 9 million already migrated, but some users continue to face verification challenges. The project’s popularity remains strong, especially in Asia, with millions of users and a large social media following that surpasses established crypto entities like Ripple. What’s New? Pi Network is one of the most controversial and yet most popular cryptocurrency projects. It claims to allow people to mine digital assets directly from their smartphones with minimal energy consumption. Despite being around for almost six years , Pi Network has yet to introduce its native token and open mainnet. Many community members have been frustrated by the lack of clarity surrounding the exact launch of those developments. However, Pi Network’s team has continuously assured these milestones are on the horizon. Not long ago, the developers said the first major target was the launch of the Open Network. They said it will go live if 15 million users pass necessary Know-Your-Customer (KYC) verifications and migrate to the mainnet (known as the Grace Period) before the end of this month. At the beginning of January, Pi Network claimed the project has been making “excellent progress,” with over 9 million successful migrations. Prior to that, the team maintained that 14 million people had completed the verification procedures. Despite the claimed progress, some users complained they had experienced issues when trying to abide by the rules. To ease their efforts, Pi Network recently advised them to “either spend Pi to update their name or appeal to resubmit their KYC application.” “Pioneers who have rejected KYC applications due to differences in their Pi account name and their real name in ID documents can now either spend Pi to update their name or appeal to resubmit their KYC application. Complete this action today if needed,” the full guidance reads. Towards the end of last year, the team issued another advice to struggling users. Specifically, it urged people who can’t complete KYC procedures for some reason to join a dedicated Telegram chat “where there will be mods to answer your questions.” How Popular is Pi Network? As mentioned above, the controversy surrounding the project has not stopped it from increasing its popularity in the past few years. Its user base has been particularly on the rise in Asia, in countries like South Korea, China, Vietnam, Japan, Singapore, and others. Last month, Wu Blockchain revealed that the number of Pi Network users in South Korea reached 1.34 million, which is more than the domestic client base of well-known crypto exchanges like Binance and Coinbase. Meanwhile, the official X account of the project has more than 3.5 million followers. In comparison, established cryptocurrency entities such as Ripple, for instance, have fewer subscribers. The post Pi Network (PI) News Recap: Here Аre the Latest Developments appeared first on CryptoPotato .
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Deutsche Bank Paints a Bright Picture for Bitcoin’s Future
Deutsche Bank predicts high Bitcoin prices through 2025. Regulatory support and institutional interest will boost Bitcoin. Continue Reading: Deutsche Bank Paints a Bright Picture for Bitcoin’s Future The post Deutsche Bank Paints a Bright Picture for Bitcoin’s Future appeared first on COINTURK NEWS . Crypto Potato
XRP Rally To $15 Possible Amid Excitement Over CME Futures Debut
The price of Ripple’s XRP momentarily pumped after a test page erroneously appeared on the Chicago Mercantile Exchange (CME) website, showing that the token’s regulated futures could commence trading in February, pending regulatory approval. Could the potential XRP futures launch kickoff a meteoric XRP surge to $15? Is CME Listing XRP Futures Contracts Soon? The Chicago Mercantile Exchange (CME) stirred excitement in the crypto community earlier on Wednesday after the Chicago-based futures giant posted the futures page for Ripple’s XRP and Solana (SOL) to its staging subdomain. The price of both cryptocurrencies spiked following the leaked CME futures addition, which suggested that those investment vehicles would be listed on Feb. 10. Bloomberg ETF analyst James Seyffart corroborated the page’s existence. https://twitter.com/JSeyff/status/1882154205202567623 However, CME later clarified that the beta page was mistakenly made public, and that no official decisions regarding futures contracts based on both tokens had been made. “The beta version of the website, which is often used for mock-up drafts, was made public in error,” a spokesperson of the company told FOX Business . “No official decisions have yet been made about launching futures contracts for either token.” Crypto Investment Products Surge Amid Shifting Regulatory Winds Despite CME’s denial, investors are still hopeful that the XRP futures contracts will be eventually launched. Applications for crypto exchange-traded funds (ETFs) and futures products have increased following the reelection of President Donald Trump and the departure of crypto nemesis Gary Gensler from the SEC. Asset managers have already submitted a slew of regulatory filings to list ETFs holdings altcoins, including XRP. This has led to heightened anticipation that an ETF that offers investors direct exposure to XRP could be approved soon following the approval of Bitcoin and Ethereum ETFs last year. Trump, who has vowed to transform the U.S. into the “world’s crypto capital,” has tapped pro-crypto commissioner Mark Uyeda to serve as interim SEC Chair until Paul Atkins assumes the role under the new Trump administration. Regulatory hurdles must be cleared for XRP ETFs and futures products to be greenlighted. Pundits suggest that crypto advocate Atkins could facilitate this change. Earlier this month, a team of researchers at JP Morgan said that if approved, XRP ETFs could attract an eye-popping $8 billion worth of fresh cash from investors. XRP Headed For $15? Several crypto strategists have suggested that XRP could hit the $15 mark this year, citing the third-largest crypto’s adoption and bullish chart technicals, institutional demand, and a crypto-friendly Trump regime as the tailwinds. Popular analyst Mickybull Crypto, for instance, has previously shared a chart showing XRP trading closer to the upper boundary of a bull flag with an upside target of $15. As of press time, XRP was changing hands at $3.11, according to CoinGecko data. The remittance token is down 2.3% on the day and roughly 8.2% this week. Crypto Potato
