DeFI News by Thebittimes.Com

The cryptocurrency market is experiencing a massive correction today. Pi Coin (Pi Network/PI) has been facing a similar fate over the last few months. The coin experienced a surge in popularity earlier this year, hitting an all-time high of $2.99 on Feb. 26. Pi Coin’s (PI) price has seen a 90.1% crash since its February peak. According to CoinGecko, PI’s price has fallen by 17.3% in the last 24 hours, 15.5% over the last week, 15.2% in the 14-day charts, and 18.2% over the previous month. Let’s discuss if PI has lost its momentum, and if the hype around the project has died. Source: CoinGecko Has Pi Coin Lost the Hype After a 90% Price Crash? Source: Bankless Times While Pi Coin (PI) was rallying in late February, the larger crypto market was facing a correction. The divergent trend could mean that PI’s rally was not due to a bullish market. PI’s rally and popularity were tied to online buzz and speculation. The lack of hype is a major factor for PI losing ...

In April, a new fad emerged after MicroStrategy (MSTR) founder Michael Saylor laid the groundwork for a new type of public stock corporation, the so-called “bitcoin treasury company.” Like any fad on Wall Street, early adopters earned disproportionate gains ahead of the herd of trend followers. However, the fad is already fading as investors are beginning to tire of overpaying for publicly-traded balance sheets. An acronymic play on bitcoin’s BTC symbol and modeled after MicroStrategy itself, these bitcoin treasury companies promised to upend the traditional investment framework of discounted cash flow Analysis . Instead of boring corporate activities like building products and services for paying customers, they would mostly skip over such bothersome details to focus on something much more exciting: raising capital to buy BTC. Bitcoin treasury company season begins On April 23, Bitcoin Treasury Company Season kicked off in earnest with the launch of Tw...