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Hyperdrive Exploit Leads To $782K Loss On Hyperliquid Network
Crypto Trends

Hyperdrive Exploit Leads to $782K Loss on Hyperliquid Network

by admin September 29, 2025



Hyperdrive, a lending protocol built on the Hyperliquid (HYPE) blockchain, suffered a smart contract exploit on Saturday night that resulted in losses of around $782,000. This marks the third major security incident tied to the rapidly growing Layer 1 network.

According to blockchain security firm CertiK, the attacker repeatedly exploited an arbitrary call in Hyperdrive’s router. This flaw allowed them to drain funds from two pools, the Primary USDT0 Market and Treasury USDT Market.

The attacker stole 673,000 USDT0 stablecoins and 110,244 thBILL tokens, later converting the assets into BNB and ETH before moving them off-chain.

Hyperdrive’s team responded quickly by pausing the protocol to stop further damage. In an update on X, the team said it had already identified and fixed the root cause. It also confirmed that affected accounts had been identified and promised a compensatory plan, although details of that plan remain unclear.

Hyperliquid’s track record of incidents

This is not the first time Hyperliquid’s ecosystem has faced trouble. In March, a whale manipulated the price of Solana-based memecoin JELLYJELLY, forcing the protocol to absorb $12 million in losses. An earlier manipulation event had also cost a Hyperliquid vault around $4 million.

Despite these challenges, Hyperliquid continues to gain traction in the DeFi space. Data from DeFiLlama shows Hyperdrive currently holds about $14.5 million in total value locked (TVL).

Market reaction

At the time of writing, Hyperliquid’s HYPE token of Hyperliquid is trading at $47.14, which is up 4.20% in the last 24 hours, and has a market cap of approximately $15.8 billion and a trading volume of over $3 billion, according to the CoinMarketCap Data.

The Hyperdrive hack underscores the current security risk in DeFi, including on rapidly expanding networks such as Hyperliquid. While their team has acted quickly to contain the issue, users will be watching closely for the promised compensatory measures and postmortem report.

Also Read: James Wynn: Hyperliquid Will Die ‘Slow & Painful Death’ As ASTER Soars



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September 29, 2025 0 comments
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Revolut launches secondary stock sale at $75B valuation
GameFi Guides

Multiple Network launches MTP swap, $1M buyback plan

by admin September 29, 2025



Multiple Network will replace its compromised MTP token and commit to a year-long buyback program after a third-party market maker unlocked and dumped tokens without authorization.

Summary

  • MTP compromised by unauthorized market maker unlocks.
  • New token contract launched with 1:1 swap.
  • $1M buyback plan and legal recovery underway.

The incident, which polluted the token supply and drove sharp price declines, prompted the team to initiate an emergency swap and legal recovery measures.

According to the project’s Sept. 29 announcement, trading was suspended at 2:00 AM UTC for a snapshot of balances. With the deployment of a new BEP-20 contract on BNB (BNB) Chain, MTP tokens are automatically allocated to verified on-chain and exchange holders in a 1:1 ratio.

The new MTP’s trading, withdrawals, and deposits have all resumed, as per exchanges like Binance.

Buyback plan and legal action

To restore confidence, the team committed to repurchasing at least $1 million worth of MTP within 12 months. Between $50,000 and $100,000 will be bought back monthly during the first six months, with the scale for months seven to twelve determined by market conditions. 

📢𝐌𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 — 𝐎𝐟𝐟𝐢𝐜𝐢𝐚𝐥 𝐓𝐨𝐤𝐞𝐧 𝐒𝐰𝐚𝐩 & 𝐁𝐮𝐲𝐛𝐚𝐜𝐤 𝐏𝐥𝐚𝐧 𝐟𝐨𝐫 $𝐌𝐓𝐏

The original $MTP token was compromised after a third-party market maker unlocked and dumped tokens, polluting the supply.

To protect the community and ensure… pic.twitter.com/3soF3CfISk

— Multiple Network (@MTP_Network) September 29, 2025

In addition, all funds recovered through legal action against the market maker will be used for further buybacks. The team noted that judicial proceedings have reached a critical stage and updates will follow once disclosure is permitted.

Timeline of the crisis

The breach surfaced on Sept. 23 when community managers confirmed that a market maker violated lock-up terms, leading to unauthorized token dumps. Price dropped as low as $0.002101, with market cap sliding significantly. By Sept. 27, the team advised traders to use exchanges instead of on-chain markets due to contaminated supply. 

Multiple Network, a DePIN project focused on Web3 privacy acceleration for AI, had launched MTP in August with an initial listing on Binance Alpha. The token briefly reached $0.0456 but later fell more than 40% amid sell pressure and the breach. The swap and buyback plan aim to stabilize the ecosystem and protect legitimate holders going forward.





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September 29, 2025 0 comments
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Product Reviews

The Social Network 2 is coming next fall and stars Jeremy Strong as Mark Zuckerberg

by admin September 27, 2025


The long-awaited sequel to The Social Network will hit theaters next fall, according to a report by Deadline. The official release date is set for October 9, 2026, which is just about 16 years after the first film dropped.

We also have plenty of other information, including the full cast and the actual name of the movie. The official name is The Social Reckoning, which makes sense as the movie follows recent events in which Facebook got into legal and political trouble when a whistleblower alleged that the company knew the platform was harming society but did nothing about it.

The cast is being led by Jeremy Strong from Succession, who takes over Zuckerberg duties from actor Jesse Eisenberg. Mikey Madison is playing the aforementioned whistle blower Frances Haugen and The Bear’s Jeremy Allen White portrays Wall Street Journal reporter Jeff Horowitz.

Bill Burr is also appearing in this flick, though we don’t know in what capacity. The Hollywood Reporter has suggested he will play a fictional character invented for the film that will be an amalgamation of several people. Aaron Sorkin is both writing and directing this one. He wrote the first movie, but David Fincher directed it.



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September 27, 2025 0 comments
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BTC faces "cloud resistance." (geralt/Pixabay)
Crypto Trends

Centrifuge Launches Tokenized S&P 500 Index Fund on Coinbase’s Base Network

by admin September 25, 2025



Real-world asset specialist Centrifuge has launched what it calls the first licensed S&P 500 index fund on blockchain rails, opening one of the world’s most recognized equity benchmarks to on-chain investors.

The Janus Henderson Anemoy S&P 500 Fund, dubbed SPXA, went live on Thursday on Base, an Ethereum layer-2 network developed by crypto exchange Coinbase.

The offering is the first tokenized index fund licensed by the S&P Dow Jones Indices. It allows the S&P 500, a wide basket of the largest publicly traded U.S. companies that covers roughly 80% of the U.S. equity market, to trade around the clock with transparent holdings.

FalconX, a digital asset brokerage, was an anchor investor in the product, while Wormhole, a cross-chain messaging protocol, will handle future expansion to other blockchains. Janus Henderson, a London-based global asset manager with nearly $500 billion in AUM, is serving as sub-investment manager, while Centrifuge’s asset management arm Anemoy oversees the fund.

The initiative fits into a broader trend of bringing traditional financial instruments such as bonds, funds and equities, often called real-world assets (RWA), onto blockchain rails. Proponents explore tokenization for operational gains, speedier settlements and around-the-clock trading.

Centrifuge, which has built infrastructure for tokenizing private credit and fixed income since 2017, sees SPXA as its entry point into equities, a tokenization trend that has recently taken off.

“Indices are the best way to bring stocks on-chain,” Bhaji Illuminati, CEO of Centrifuge, said in a statement. “They’re simple, collateral-ready and unlock liquidity in ways individual securities can’t.”

For S&P Dow Jones Indices, the offering is a stepping stone to “build the future of index-linked financial products” traditional finance products are beginning to migrate to blockchain environments, said Cameron Drinkwater, chief product officer at S&P DJI.

Read more: Blockchain-Based RWA Specialists Bring $50M to Apollo’s Tokenized Credit Strategy



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September 25, 2025 0 comments
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Gaming Gear

“It could be catastrophic to the city” – US Secret Service takes down massive million-dollar network of SIM cards it says was capable of taking down comms across New York

by admin September 24, 2025



  • A massive communications network was uncovered in New York
  • The network is made of 300 servers containing 100,000 SIM cards
  • Only part of the network was deployed, with more equipment discovered ready to be added to the network

The US Secret Service has uncovered and dismantled a telecommunications network in New York which may have been used by organized criminals to communicate with foreign state-sponsored actors.

The enormous network was made up of over 300 servers that housed a combined 100,000 SIM cards, and allegedly had the potential to disrupt phone networks across the tristate area and facilitate encrypted communications.

The United Nations General Assembly is currently ongoing in New York, and the Secret Service has suggested the network could have been used “to conduct multiple telecommunications-related threats directed towards senior U.S. government officials.”


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Advanced Threat Interdiction Unit

The 300 co-located servers were all within 35 miles of the United Nations and could have been involved in “disabling cell phone towers, enabling denial of services attacks and facilitating anonymous, encrypted communication between potential threat actors and criminal enterprises.”

An investigation is currently ongoing and is being conducted by the Secret Service’s new Advanced Threat Interdiction Unit, which is “dedicated to disrupting the most significant and imminent threats to our protectees.”

While the network included 100,000 active SIM cards being used in encrypted communications, the Secret Service also said that there were many more waiting to be deployed.

Image 1 of 5

A photo provided by the US Secret Service showing a modular server box containing 512 SIM cards.(Image credit: US Secret Service)A photo provided by the US Secret Service showing a collection of SIM servers containing thousands of SIM cards.(Image credit: US Secret Service)A photo provided by the US Secret Service showing a room of confiscated communications equipment.(Image credit: US Secret Service)A photo provided by the US Secret Service showing a desk with a collection of confiscted communications equipment.(Image credit: US Secret Service)A photo provided by the US Secret Service showing a wall of confiscated SIM servers, with tens of thousands of SIM cards visible.(Image credit: US Secret Service)

Matt McCool, special agent in charge of the Secret Service’s New York field office said, “It can’t be understated what this system is capable of doing. It can take down cell towers, so then no longer can people communicate, right? … You can’t text message, you can’t use your cellphone. And if you coupled that with some sort of other event associated with [the UN general assembly], you know, use your imagination there – it could be catastrophic to the city.”

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The Secret Service has been investigating threats against senior US officials from telecommunications networks, which led to the discovery of the SIM cache network.

Multiple US officials have been targeted in impersonation and ‘smishing’ attacks in recent months.

The SIM cards will be analyzed for phone calls and text messages, with the network capable of sending upwards of 30 million messages in a single minute, McCool said, stating the network was highly organized and would have cost millions of dollars to construct.

“The potential for disruption to our country’s telecommunications posed by this network of devices cannot be overstated,” added Sean Curran, director of the Secret Service.

“The U.S. Secret Service’s protective mission is all about prevention, and this investigation makes it clear to potential bad actors that imminent threats to our protectees will be immediately investigated, tracked down and dismantled.”

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September 24, 2025 0 comments
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Scattered pile of $1 bills (Gerd Altmann/Pixabay)
Crypto Trends

Orderly Network Introduces Build-Your-Own Perp DEX Platform

by admin September 23, 2025



Decentralized exchange (DEX) infrastructure provider Orderly Network introduced a platform for users to launch their own perpetuals DEXs.

“Orderly One” allows a perp DEX to be built in a matter of minutes without requiring the writing of any lines of code, Orderly said on X on Tuesday.

The new service is aimed at decentralized autonomous organizations (DAOs), funds, trading communities and so on who wish to build a revenue stream through crypto trading without relying on a centralized entity.

Perpetual DEXs play a significant role in crypto trading, combining perpetual futures market to a decentralized, permissionless environment.

Unlike traditional spot DEXs that only allow token swaps, these platforms let users trade with leverage and short assets, a functionality previously dominated by centralized exchanges like Binance. They allow traders to maintain full self-custody of their funds, eliminating the risk of exchange hacks or insolvency. By operating on smart contracts, they offer a trustless and alternative to centralized platforms.

In theory, the ability for DAOs and trading communities to build their own perp DEXs takes the decentralization a step further: not only is the trading protocol decentralized but so is the entire user-facing experience and its governance.



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September 23, 2025 0 comments
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Flare Network And Enosys Introduces First-Ever Xrp Backed Stablecoin
GameFi Guides

Flare Network and Enosys Introduces First-ever XRP Backed Stablecoin

by admin September 20, 2025



In a recent development, Enosys has launched the first XRP-backed stablecoin on Flare Network, backed by Enosys Loans, a Collateralized Debt Position (CDP) protocol. Users will be able to lock FXRP, representation of XRP on Flare Network, into the protocol to mint stablecoin.

This will enable XRP holders to gain access to a decentralized stablecoin backed by their assets, enabling borrowing without selling, liquidity provision, and yield opportunities across DeFi. 

In a recent X post, Flare announced that users can now mint a trustless, over-collateralized stablecoin using fXRP and wFLR collateral, and it will soon include stXRP. It is powered by a fork of Liquity v2, its stability pools and the Flare Time Series Oracle (FTSO), a custom oracle that aggregates price feeds from independent signal providers rather than centralized data sources. 

According to their official statement, the main component of this development is Collateralized Debt Position (CDP), a protocol that allows users to mint a stablecoin against their collateral. This helps maintain stablecoin’s value at $1. 

Furthermore, the stability pool covers risk in case of collateral shortfalls or liquidations. Users staking stablecoin in the stability pool earn yield via minting fees, interest, and liquidation rewards. 

Stablecoin adoption on the rise 

As the popularity of cryptocurrencies surges worldwide, stablecoins are seeing a drastic increase among both the retail and institutional users. A large share of stablecoin supply is currently used for various purposes like yield farming, staking, and trading. 

Also Read: Flora Growth Corp. Raises $401M to Launch 0G Token Treasury



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September 20, 2025 0 comments
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X Exposes Crypto Scam Bribery Network Amid Rising Fraud
GameFi Guides

X Exposes Crypto Scam Bribery Network Amid Rising Fraud

by admin September 20, 2025



X, the social media platform owned by Elon Musk, announced on Friday that it has taken decisive action against a bribery network linked to crypto scams. According to a statement posted on the official X Global Government Affairs account, suspended users involved in cryptocurrency scams and platform manipulation attempted to pay middlemen to bribe employees to reinstate their banned accounts.

The offenders were reportedly connected to larger criminal networks and leveraged multiple platforms, including Instagram, TikTok, YouTube, Minecraft, and Roblox. 

X has exposed and is taking strong action against a bribery network targeting our platform. Suspended accounts involved in crypto scams and platform manipulation paid middlemen to attempt to bribe employees to reinstate their suspended accounts. These perpetrators exploit social…

— Global Government Affairs (@GlobalAffairs) September 19, 2025

According to the post, these offenders were connected to larger criminal networks, one of which is referred to as “The Com.” Legal actions are now underway, with X providing full backing to law enforcement.

Scam Networks Extend Beyond X

Crypto scams have taken off on various platforms, with X becoming a prime target right alongside Telegram and Discord. Even though there’s been an effort to tighten moderation, these scams are still running rampant, which is seriously undermining trust within the community. 

Plus, X’s popularity among crypto fans makes it a prime place for fraudsters looking to take advantage of investors and users.

The scandal broke just as Sam Bankman-Fried’s X account showed unusual activity. His account, dormant for months, suddenly began following others. That sparked speculation about his potential involvement or early release from prison. 

However, there is no official confirmation of any release. The FTX bankruptcy process continues, with another creditor payout scheduled for September 30. Moreover, wallets linked to Alameda Research still receive Solana allocations, but those funds support settlements, not trades.

Rising Concerns on Financial Fraud

The issue stretches beyond social media manipulation. A recent House Financial Services Committee hearing examined fraud’s growing sophistication. Experts warned that over 75% of cybercrime originates from scams and social engineering. Ian Bednowitz of LifeLock stressed that fraud is escalating “at an exponential pace.” 

Additionally, Paul Benda of the ABA highlighted fraudsters’ use of both generative AI and traditional check theft. Hence, banks and regulators now face an increasingly complex fight against coordinated criminal groups.

This case shows how far fraudsters will go to exploit gaps in digital platforms. For users, it’s a reminder to stay cautious online, question unusual activity, and never assume every account is legitimate.

Also Read: Bank of Italy Warns Multi-Issuance Stablecoins Pose EU Risks





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September 20, 2025 0 comments
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Decrypt logo
GameFi Guides

Remilia Launching Milady Social Media Network to Serve ‘4chan Diaspora’

by admin September 20, 2025



In brief

  • Remilia Corporation is launching a Milady-centric social network called RemiliaChat.
  • The rollout is beginning with RemiliaNET, a social identity layer launching Friday.
  • While aimed at fans of 4chan, RemiliaChat will have some level of content moderation.

The Milady gang thinks social media is broken, calling the community of fans the “diaspora of chan culture”—such as the notoriously edgy 4chan. To fix that, the NFT project’s creators are launching a social media network to rival X, with the first step coming via official Milady profiles.

RemiliaNET is an in-browser experience that will allow the community to track their Milady achievements and build up a “social credit score,” with a competitive leaderboard to boot. And the upcoming RemiliaChat, with no release date confirmed, looks to be a fully fledged social media platform with an algorithm-driven feed and chat function.

“Remilia’s goal has never been just to dominate crypto and NFTs. We plan to save the entire culture of the internet, and the world through it, in the same way we did for crypto. RemiliaChat is how we achieve this,” Remilia Corporation Chief of Staff Michael Dragovic told Decrypt. “RemiliaNET is the identity service layer of Remilia Chat. We’re launching it now prior to releasing full social features to begin the onboarding process.”

Two weeks ago, a mysterious countdown started on the Milady Cult website, sending its community into a frenzy of theories and self-referential memes—the latest being, “What did CULT mean by this?” As it ticked down to zero, an additional eight days were added to the clock in the wake of last week’s assassination of right-wing activist Charlie Kirk.

RemiliaNET profiles. Image: Remilia Corporation

On Friday, the clock finally finished, and it was revealed that what CULT meant was that RemiliaNET is now open for business.

Users of RemiliaNET will have the option of using one of the default Kagami-style profile pictures, or connecting their wallet to use an NFT profile picture from a wide array of Remilia and derivative collections—including Radbro, Aura, and Schizposters.

Most importantly, though, the platform will become the go-to spot for the Milady community to track their achievements, which translates to a “social credit score” used to place everyone upon a global leaderboard.

Achievements can already be unlocked via the Remilia Achievement Score page. Some of these can be collected by minting specific NFTs, playing on the Miladycraft Minecraft server, or participating in one of the project’s many alternate reality games.

The new system, Remilia Corporation says, however, will be much more seamless. Plus, the number of achievements is also set to expand with the launch of the site, with notifications prompting users when a new achievement is available.

In doing this, Dragovic—better known as Scorched Earth Policy—confirmed to Decrypt that RemiliaNET will act as a platform for users to “actively and knowingly” participate in “manipulation rounds.” This refers to periods where Milady’s CULT token is airdropped to users based on their achievements and rankings, although Dragovic added that rewards will not be limited to CULT tokens.

“RemiliaNET assigns a public ‘social credit score’ to every user that serves as multifactor sybil detection as well as cross-platform scoring, which will result in hidden incentive rewards,” Dragovic told Decrypt. “[It] will extend beyond direct token allocation into a general rewards ecosystem. These will be used to encourage user behaviors that maximize quality contribution and community distribution.”

Why RemiliaChat?

Friday’s launch of RemiliaNET is just the first step towards the creation of RemiliaChat, an ambitious Milady-infused attempt to disrupt the social media status quo. Remilia Corporation leader Charlotte Fang has been preparing the cult for this moment for years, forcing the core team to flicker through different platforms for communication.

“We’ve experimented with dozens of platforms in the past five years alone,” Dragovic said. “We’re definitely veterans of the internet, and we have quite a bit of experience with understanding what makes a platform work and what keeps that fire alive.”



As such, Dragovic said, the team has learned lessons from what they see as the downfall of Reddit, Discord, Twitter, and chan culture, especially 4chan. RemiliaChat will attempt to build on those failings to build a social media platform with a content feed, chat, and profiles. Specifically, RemiliaChat will look to reduce the pertinence of “slop” content via a custom algorithm, and emphasize anonymity and pseudonymity. 

It’s not just the team leading the Milady-sphere that is deeply rooted in internet culture; the entire community is a product of obsession with online spaces and disillusionment with the perceived degradation of society. 

“Remilia has been very much a product of the diaspora of chan culture,” Dragovic told Decrypt. “People are yearning for a new platform and a new space. RemeliaChat wants to be that. It wants to be the place where people go. It’s going to be one of the first and only platforms that’s designed around really hard online discourse principles.”

With a core community entrenched in online culture and a team dedicated to critiquing it, RemiliaChat hopes to become a new cultural hub for the cultivation of radical thought.

“Society’s most important discourse always occurs in iconic gathering places,” Dragovic said. “These places were our tribal campfires, our Athenian forums, our zones of intellectual exchange. And within them, always a core group of people coming together to develop the ideas of their time.”

“Our pivotal places now happen online,” he added. “Our iconic minds are anonymous posters.”

A free-for-all?

Milady, Remilia, and its surrounding communities have become a melting pot of ideas branching to the far corners of all wings of the political spectrum. However, many outsiders would likely characterize the group as far-right, with its tendencies to echo racist and other controversial sentiments.

In part, however, the group’s flirtation with fringe theories comes as part of Fang’s concept of “pre-cancelling” yourself. This has led to members leaning into shock humor or intentionally saying slurs under the intention of appearing punk, despite not necessarily agreeing with their own take.

As a result of this ethos, moderation on traditional social media platforms has become a problem for the community. RemiliaChat, to the dismay of its community, cannot be completely unmoderated as the spread of illegal and unethical content, such as child sexual abuse materials, may occur.

Remilia Corporation confirmed to Decrypt that it will have a moderation system in place, and claims to have been learning lessons on how to handle it through its previous projects.

“Our intention is to do as little moderation as possible in terms of content,” Dragovic told Decrypt. “Our belief is that 90% of moderation comes from the way you design the layout of your site. The site should itself steer the user into posting a certain way and creating a certain form of engagement.”

“We’ll intervene on the absolutely necessary parts,” he added, “like bad actors, illegal shit, and things that could get the FBI knocking on our door.”

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September 20, 2025 0 comments
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 Is Pi Network price ready for a bullish reversal?
GameFi Guides

Pi Network price indicates bullish accumulation as reversal pattern forms

by admin September 19, 2025



Pi Network price action is forming a bottoming structure around $0.33, supported by strong volume and high-time-frame structural support. A breakout toward $0.44 resistance depends on sustained bullish inflows.

Summary

  • $0.33 Support: Holding for months, forming a strong base.
  • Rounded Bottom: Accumulation phase pointing toward expansion.
  • Next Target: Breakout toward $0.44 requires strong bullish inflows.

Pi Network (Pi) has been consolidating for several months, carving out a rounded-bottom pattern that signals potential accumulation. Price action continues to respect the $0.33 support region, which has acted as a critical floor. With the point of control repeatedly tested and defended, demand appears to be present, but volume inflows will be the key catalyst for acceleration higher. An unidentified large holder is also steadily accumulating Pi tokens, further underscoring the buildup of demand at these levels.

Pi Network price key technical points

  • $0.33 Support Zone: Critical high-time-frame support holding for months.
  • Rounded Bottom Structure: Suggests accumulation before expansion.
  • Next Resistance: $0.44 stands as the immediate upside target.

PIUSDT (1D) Chart, Source: TradingView

The $0.33 support zone remains pivotal for Pi Network. Over the past few months, this level has repeatedly held, allowing price to consolidate and form a rounded bottom. The point of control has been “hugged” by price action, showing that participants are actively defending this region and willing to absorb sell pressure.

From a market-structure perspective, this signals that buyers are gradually building a base. However, the overall bearish structure of lower highs remains intact. For a true reversal, Pi Network must generate impulsive upside candles that break through this downtrend.

Volume remains the deciding factor for whether this rounded bottom develops into a breakout. While accumulation appears present, bullish nodes and inflows are required to accelerate the move toward resistance at $0.44. Pi Network upgraded its blockchain to a new testnet version, set to progress from 20 to 23 over coming phases, a development that could add momentum if coupled with stronger inflows. Without this confirmation, price risks prolonged sideways trading within its current base.

Previous attempts to reclaim resistance have failed due to insufficient demand, but the persistence of support at $0.33 suggests sellers are losing control. If volume inflows arrive, the setup favors rotation higher.

What to expect in the coming price action

Pi Network is forming a constructive bottoming pattern, but confirmation depends on volume. Traders should watch for impulsive candles that break the lower-high structure, as this would signal the activation of a larger bullish reversal. As long as $0.33 holds, the bias leans bullish, with $0.44 resistance the first major target for expansion.



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September 19, 2025 0 comments
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