Pi Network Updates, Shiba Inu (SHIB) Developments and More: Bit Recap, December 27

TL;DR

• The Pi Network’s open network launch is delayed again until January 31, 2025, disappointing users awaiting progress.
• Shiba Inu’s “SHIB: The Metaverse” expands its ecosystem, offering virtual real estate commerce and global connectivity.
• Bitcoin (BTC) has fallen 12% from its high of $108,000 due to possible policy changes from the Federal Reserve.

Delays after delays

Pi Network – the controversial cryptocurrency project that claims to allow people to mine digital assets from their smartphones – continues to raise eyebrows within his community. He was launched more than five years ago, but open mainnet and native token have not yet been introduced.

Earlier this year, the team said the first major goal was to release the open network. They also said that this could become possible once users pass the necessary KYC (Know-Your-Customer) checks and migrate to the mainnet (known as the grace period).

The original deadline was September 30., while later, it was moved a few more times until December 31. More recently, the Pi Network team announcement another extension until January 31:

“We are extending the grace periods for KYC and Mainnet migration until January 31, 2025, to help include more pioneers and their Pi as we prepare for the Open Network in Q1 2025.”

Somewhat as expectedthis was not well accepted by some community members which have been awaiting serious developments for years.

“That’s been your tendency to do things. We are not surprised. You always lied. These dates aren’t even real: delay, delay, delay, until the project dies,” said one frustrated user. said.

Shiba Inu’s latest project

The recently popular meme piece spear a virtual world called “SHIB: The Metaverse”. The project, described as “revolutionary” by LUCIE, marketing manager of Shibarium, allows users to own, trade and develop virtual real estate registered on the blockchain.

Additionally, people can build their own vision, create custom avatars, and connect globally with other members of the SHIB community.

In recent years, Shiba Inu has introduced many other projects, showing its evolution from a meme coin to a larger ecosystem. Examples are the layer 2 scaling solution Shibarium and blockchain-based games. Rush to Shiboshi and Shiba Eternity.

BTC Price Conditions

We’ll end today’s recap with a few information about the main cryptocurrency, the price of which has seen a substantial decline lately.

Bitcoin (BTC) hit a new all-time high of over $108,000 on December 17, but since then it has fallen 12% to its current level of $95,000 (according to CoinGecko data).

As CryptoPotato reported, the fall has begun shortly after the Federal Reserve announced another 0.25% rate cut. However, the chairman of the central bank – Jerome Powell – suggested that this policy could be suspended next year due to growing inflation concerns. He Also added that the Fed is not authorized to hold BTC, casting doubt on Trump’s proposed plan to establish a strategic BTC reserve in the United States.

A important A signaling factor that the asset correction could intensify in the short term is the increase in net foreign exchange flow. On December 26, technical analyst Ali Martinez maintained that 33,000 BTC (currently valued at over $3.1 billion) was sent on the platforms last week.

The move indicates that investors may be preparing to dump their holdings. Massive sales would lead to an increase in circulating supply, which, combined with demand not increasing, could put downward pressure on the price of Bitcoin.