Recent Pi Network (PI) Developments, Zcash (ZEC) Targets, and More: Bits Recap Dec 12

Pi Network finally shed more light on a development that concluded nearly two months ago. Zcash (ZEC) seems to have started another uptrend, while Bitcoin (BTC) is still hesitant to make a decisive move following the latest FOMC meeting.

In the following lines, we will touch upon everything most interesting related to these three cryptocurrencies.

Pi Network’s Long-Awaited Announcement

Towards the end of the summer, the team behind Pi Network launched the Pi Hackathon 2025. The event had a 160,000-coin prize pool dedicated to the top eight participants, and its primary goal was to encourage Pioneers to create real-world applications that expand the utility of the PI token.

While the hackathon was supposed to run until mid-October, the Core Team has failed to provide details on its conclusion or final results. Several hours ago, it finally broke the silence, revealing the winners of the event. First place and a reward of 75,000 PI tokens went to Blind_Lounge, a privacy-first social and dating platform that enables anonymous connections.

The loyalty program app Starmax finished second, earning 45,000 coins, whereas the fast-paced runner game RUN FOR PI took third place and 15,000 tokens. Kindrek, Workflet For Pi, PallyPay, SimpleJoy, and Agora Pulse are the additional winners down the list, each receiving 5,000 PI.

Prior to that, Pi Network’s team integrated special AI tools, thus helping users who struggle to complete the necessary KYC verification process. Meanwhile, a group of Pioneers recently shocked the crypto community by claiming that the controversial project secretly offloaded billions of PI tokens, manipulated the valuation, and delayed the Open Mainnet on purpose. They sued the entity, asking for $10 million in damages.

The legal issues could be among the reasons why PI’s price headed south again. As of this writing, the asset trades at around $0.20 (per CoinGecko), representing an 8% decline on a weekly scale and a whopping 93% crash since the all-time high of $3 witnessed earlier this year.

PI Price, Source: CoinGecko

ZEC is Back on the Green Track

The native token of Zcash, ZEC, became a sensation in November when its price exploded above $700. Recall that in September, it was hovering around $50, making the rally more than impressive.

At the start of December, though, the bears regained control, and ZEC dropped to nearly $300. In the last week, there has been a new resurgence, and the token currently trades at approximately $456 (per CoinGecko’s data).

ZEC Price, Source: CoinGecko

Certain technical setups suggest the price could soon surpass $600, while some analysts set even more optimistic targets. The X user Thor Torrens, for instance, envisioned the ascent to a staggering $4,900.

What About BTC?

The primary cryptocurrency experienced enhanced volatility following the Federal Reserve’s decision to lower the interest rates by 0.25%. It has been dancing within the $89,000-$94,500 range in the past few days and, as of this writing, is worth roughly $92,200.

BTC Price, Source: CoinGecko

The crypto community seems divided about BTC’s next potential move. X user Crypto Tony believes that reclaiming the $93,000 level “is all the bulls need” to push the valuation to $94,000-$96,000.

Others, like Ted, made more pessimistic forecasts. The analyst noted the formation of a potential bear flag that can be invalidated only if BTC soars above $96,000. If that scenario does not materialize, the asset may plunge below $86,000 and even revisit its April lows when the price fell under $75,000.

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