Pi Network’s (PI) Latest Update, Ripple’s (XRP) Recent Moves, and More: Bits Recap Nov 28

The team behind Pi Network inked a strategic deal with a gaming platform, whereas Ripple expanded its presence in the Middle East. For its part, Ethereum (ETH) posted a substantial revival in the past week and is now the subject of optimistic price predictions.

What’s New Around Pi Network?

Earlier this week, the Core Team shook hands with CiDi Games (a gaming platform that builds Pi-integrated games millions of Pioneers can use). The collaboration’s main goals are to expand the real-world utility of Pi Network’s native token, provide developers with a clear signal that PI is committed to gaming at scale, and create new opportunities for users.

As a part of the overall collaboration, Pi Network Ventures, the project’s investment arm, backed CiDi Games, which signalled confidence in the latter’s experience and long-term vision.

Over the past several months, Pi Network has supported the gaming niche via hackathons, app incubation programs, and monetization through the Pi Ad Network. The team also released FruityPi, which has integrated Pi payments, Pi Wallet, and Pi Ads.

The native token of Pi Network has performed quite well over the past week, and the latest partnership could be among the potential catalysts. Currently, PI trades just south of $0.26, representing a 13% increase on a seven-day scale.

PI Price, Source: CoinGecko

Ripple’s Advancement

The main news surrounding Ripple’s ecosystem concerns the launch of multiple spot XRP ETFs in the United States. In mid-November, Canary Capital became the first company in America to announce such a fund with 100% exposure to the asset.

Shortly after, the investment vehicles issued by Bitwise, Grayscale, and Franklin Templeton also saw the light of day. According to some market observers, 21Shares’ ETF is next in line and is expected to go live this week.

The spot exchange-traded funds with XRP as the underlying asset have seen significant interest. SoSoValue’s data shows that cumulative net inflows into the products have surpassed $640 million since the first one came into existence just a few weeks ago.

Besides progressing on the ETF front, Ripple expanded its global presence. The company revealed that Abu Dhabi’s Financial Services Regulatory Authority (FSRA) has recognized its stablecoin RLUSD as an accepted fiat-referenced token.

ETH’s Potential

As of this writing, the second-largest cryptocurrency trades at roughly $3,030, up 13% over the past week. Its impressive comeback following last Friday’s market crash has restored optimism across the community, with many analysts envisioning further short-term gains.

X user Merlijn The Trader disclosed that ETH exchange reserves dipped to record lows. According to CryptoQuant, the amount of Ethereum held on centralized exchanges fell to approximately 16.8 million, the lowest level in nine years. This points to a wave of investors moving their holdings into self-custody, suggesting they have no intention of cashing out soon.

ETH Exchange Reserves, Source: CryptoQuant

The user with moniker Don thinks ETH could be gearing up for a pump to $4,400, whereas others set even more bullish targets.

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