Pi Network (PI), BNB e SOL (Solana): how are they doing?

The altcoin market seems to be stalled: today we will analyze the price trends of Pi Network (PI), BNB, and SOL (Solana).

Price Analysis of Crypto Pi Network (PI), BNB, and SOL (Solana)

Despite the crypto project Pi Network having existed for many years, its native cryptocurrency PI landed on the markets only in February of this year.

Therefore, there is not much history to analyze, and this means that the information that can be deduced from the price trend is only circumstantial.

First of all, it must be said that right at the debut, during the first week of presence in the crypto markets, a mini speculative bubble had already inflated, which then immediately burst. 

This means that the first days of presence on the markets are not useful for analysis purposes, and indeed they could be misleading. For example, the fact that the current price is at -84% from the highs of February 26th ($2.98) might seem like a bad sign, but instead, it would be better to simply ignore it because this drop is not necessarily due to the weakness of the crypto, but rather to the speculative bubble that inflated in the days after the launch. 

In fact, after the bubble burst, the price even fell below the initial one, reaching $0.52 at the beginning of April. It is advisable to take this as a reference point. 

That does not change the fact that the current price of $0.48 is actually still lower, but not by much. 

It is necessary, however, to specify that after dropping to $0.52 at the beginning of April, the price essentially moved sideways until the beginning of May, only to rise due to a new mini-bubble, which lasted only five days, that had brought it back above $1.2. 

However, the fact is that after the burst of that bubble, the price did not simply return to lateralize around $0.52, but instead it seems to have started a descending trend still in progress, which has now been going on for almost a month and a half. 

It is difficult to say when such a downward trend will end, while it seems decidedly more credible to state that other speculative bubbles could inflate in the future on the price of PI.

BNB: among the top crypto leading the market

The discussion regarding BNB is completely different.

First of all, BNB has existed in the crypto markets since 2017, when it was still a token on Ethereum.

Furthermore, behind BNB there is Binance, which is the largest crypto exchange in the world.

The thing that stands out the most is that the current price of BNB is only -17% from the all-time highs, recorded just a few months ago, in December 2024, at almost $800. 

BNB is among the top 5 crypto by market capitalization, and its price over time has a trend that apparently seems decidedly solid. 

For example, after the great bear-market of 2022, in 2023 it immediately began to rebound, so much so that by the beginning of 2024 it had almost returned to the peak levels of 2021. 

What is most surprising is that in March of last year it went back above $400, after having dropped to $200 the previous year, and since then it has never fallen below this threshold. 

Indeed, it is as if from March 2024 a long period of volatile lateralization has begun, with maximum peaks well above the historical highs of 2021 ($670), but never falling below $450. Although the lateralization range is wide (from $500 to $700 with some excursions above and below), it really gives the impression of having great resilience in the medium to long term. 

The price of BNB seems even more stable than that of Bitcoin, probably precisely because there is a giant like Binance behind it.

The performance of SOL (Solana) between boom and difficoltà

A different discussion can be made for SOL, the native cryptocurrency of Solana.

In fact, the trend of its price is not as solid as that of BNB, but it is not as speculative as that of PI. 

It is like a sort of middle currency, that is, sustained volatility combined with a certain resilience in the medium-long term. 

Although SOL landed on the crypto markets back in 2020, it is from 2023 that the current trend began. 

In fact, during the great bear-market of 202, the price had plummeted from more than $200 to less than $10, but at the end of 223 it started to recover. 

The difference was made by the memecoin, which starting from the end of 2023 began to be created en masse on the Solana blockchain. 

And so already at the beginning of 2024, it had returned above $100, only to move back near $200 in March of last year, and momentarily correct just above $120. 

With the Trump-trade at the end of 2024, the price of SOL skyrocketed, reaching its new all-time high at nearly $300 on January 19th of this year, which is the day after Trump’s own announcement of the launch of his memecoin on Solana. 

To tell the truth, however, subsequently the memecoin market experienced a strong downturn, so much so that the price of SOL in April had returned to just above $100, a level lower than the bottom of last year’s correction. 

However, in May it attempted a rebound, which was limited to bringing the price back above the bottom of the 2024 correction. 

Currently, it is still almost -50% from the highs, but it is quite likely that sooner or later another speculative bubble will inflate in the memecoin market. It is very likely that, in this case, the price of SOL could benefit from it.