2024 is coming to an end, and the crypto market is still very lively. From Pi Network's repeated postponement of opening the network, to Shiba Inu (SHIB)'s new metaverse expansion, to Bitcoin (BTC) falling into downward pressure due to policy fluctuations, market events are constantly exciting. The following is an in-depth review brought to you by Lao Tan!
Pi Network has missed its deadline again, and user confidence is on the verge of collapse
Pi Network, a project that claims to allow users to "easily mine" with their mobile phones, has once again postponed the timetable for opening its mainnet. The open network, which was supposed to be launched on December 31, 2024, has now been postponed to January 31, 2025.
An official statement said that this delay is to help more users complete KYC (Know Your Customer) verification and migrate to the mainnet. However, the community's patience has long been exhausted by repeated delays. A long-time supporter bluntly stated, 'This is their inertia. The excuses for every missed deadline are the same, and we are no longer surprised by this.'
From initially claiming to be a revolutionary mining method to the current indefinite wait for the open network, what is the future of Pi Network: soaring or falling? Perhaps we will know by early 2025.
Shiba Inu SHIB: From Meme Coin to Metaverse Dominator
Shiba Inu's ambitions are not limited to being just a Meme coin—they are creating their own virtual world!
The newly launched 'SHIB: Metaverse' is an important expansion of the Shiba Inu ecosystem. This virtual platform allows users to buy and trade virtual real estate, with all transaction records stored on the blockchain, ensuring transparency and security.
Moreover, users can design personalized virtual avatars, interact with community members globally, and even create their own dream worlds on the platform. LUCIE, the marketing head of Shibarium, stated, 'The SHIB Metaverse is a groundbreaking project that showcases the limitless potential of the SHIB ecosystem.'
The transformation journey of Shiba Inu is clearly not limited to this. From the layer-2 solution Shibarium to blockchain games Shiba Eternity and Shiboshi Rush, these products are taking SHIB further down the path of a 'functional ecosystem.' For those who only see SHIB as a 'meme coin,' it might be time to reassess this project that is breaking through the stratosphere.
Bitcoin BTC: From New Highs to Corrections, Where Do Investors Go From Here?
Let's turn our attention to the market leader—Bitcoin. On December 17, Bitcoin soared to a historic high of $108,000, but then plummeted by 12% and is currently hovering around $95,000 (data source: CoinGecko).
One of the triggers for this drop was the Federal Reserve's rate cut of 0.25%, but Chair Jerome Powell hinted that there could be a pause in rate cuts in 2025 while emphasizing that the Fed should not hold Bitcoin. This has raised doubts in the market about Trump's earlier proposal to 'establish a U.S. BTC strategic reserve.'
In addition, technical analyst Ali Martinez warned that Bitcoin's net inflow to exchanges surged by 33,000 BTC (worth over $3.1 billion) in the past week. This signal suggests that investors may be preparing for a massive sell-off. The influx of a large amount of BTC into the market will inevitably increase circulating supply and exert downward pressure on prices.
Despite constant short-term fluctuations, Bitcoin's scarcity and safe-haven properties remain its core value in the long run. Lao Tan advises keeping an eye on market dynamics and maintaining rational operations.
From the uncertain future of Pi Network to the aggressive expansion of Shiba Inu, and the policy pull in the Bitcoin market, the crypto market at the end of 2024 is still in turbulent waters. Insight into market rhythms is the beginning of wealth control! Stay close to Lao Tan, plan ahead, and let the next peak belong to your account! Follow Lao Tan, and never let opportunities slip away!
