Pi will be an important week for Network and this 2 Altcoin. On the other hand, despite increasing geopolitical risks in the crypto market last week and strong US inflation data, it maintained its stability. While Bitcoin continued to be traded below $ 100,000, some subcoins such as Mantra (OM) and Pancakeswap (Cake) rise.
FTX Token: Payments Begin
FTX Token (FTT) is one of the most striking crypto currencies this week. The distribution process of FTX assets begins and it is planned to pay a total of $ 16 billion to creditors.
Payments will be made through Bitgo and Kraken and creditors will be able to switch to their accounts within 1 to 3 working days. However, this development did not reflect the FTT price positively. Token, the highest level of the year, $ 4.38 dollars fell to below $ 2.40.
Risk of decrease for FTX Token
Technical analyzes give signals of decrease for FTT. Token is fluctuating around the 50 and 100 -day -old moving averages (EMA) and the probability of continuing the downward movement of the price.
FTX was founded in 2019 by Sam Bankman-Fried (SBF) and Gary Wang. However, after the collapse of 2022, the value of the FTT was largely melted. Bankman-Fried was sentenced to 25 years of imprisonment for fraud charges, which makes it difficult for FTT’s long-term recovery.
TAPSWAP: AirDrop Process
Tapswap is another project that needs to be followed closely this week. The project is preparing to initiate the tokens creation efficiency (TGE) and Airdrop process.
AirDrop, which was initially scheduled to be held on February 14, was postponed because Telegram required all mini -games to use Ton Blockchain. This decision led Tapswap to switch to Ton instead of Bnb Chain.
How will the TAPSWAP price be affected?
Unlike other Tap-to-Earn projects, TAPSWAP aims to offer a skill-based game model. However, Hamster Kombat, Notcoin and Catizen, such as projects such as Airdrop after harsh decreases after the TAPS Token is likely to encounter a similar fate.
The TAPSWAP team plans to prevent this decline by giving TAPS Token a long -term usage area. However, it remains unclear how the project will perform.
Pi Network: Mainnet Launch
Pi Network is preparing to launch Mainnet on February 20 as one of the oldest projects to adopt the Tap-to-Earn model.
Pi Network has long been working in a closed ecosystem. However, users who are now able to turn their tokens into fiat money and developers will be able to present their applications to a wider audience.
Pi Network Future
Pi aims to offer lower trading fees compared to Bitcoin and make mining more accessible. In the ecosystem, more than 100 DApp projects are ready to use and more than 10 million users moved tokens to Mainnet.
The Mainnet launch will be a big turning point for Pi Network. However, it remains unclear how the market will react to the project.
