Cardano News Today: Cardano Investors Bet on Remittix's Utility Over Pi's Struggling Speculation

Pi Network's price continues to face downward pressure despite broader market recovery, with the token trading near $0.26 as of press time, reflecting a 24% decline over the past month BeInCrypto^[1]. The altcoin's underperformance contrasts with Bitcoin's all-time highs and the rally of other major cryptocurrencies, highlighting network-specific challenges. Exchange reserves for Pi tokens have surged to over 445 million PI, up from 420 million in early September, signaling increased selling activity as holders transfer tokens to trading platforms BeInCrypto^[1]. Additionally, over 110 million PI tokens are scheduled to unlock in October, exacerbating potential downward pressure BeInCrypto^[1].

Amid these challenges, Pi Network has rolled out testnet DeFi features, including a decentralized exchange (DEX), AMM liquidity pools, and token creation tools, aiming to shift focus from speculative trading to real-world utility BeInCrypto^[1]. The core team emphasized that these tools allow users to experiment with token swaps and liquidity provision in a controlled environment, preparing the ecosystem for a future mainnet transition BeInCrypto^[1]. However, analysts caution that short-term price recovery remains unlikely without broader adoption of these features or a significant reduction in circulating supply BeInCrypto^[1].

Meanwhile, Cardano (ADA) investors are diversifying into Remittix (RTX), a PayFi project that has raised over $27.2 million in its presale and is ranked 1 on CertiK for pre-launch tokens . Remittix's live beta wallet enables crypto-to-bank transfers in 30+ countries, leveraging low fees and real-time foreign exchange conversion . The project's roadmap includes confirmed listings on BitMart and LBank, with a third major exchange in the pipeline . Investors are drawn to its utility-driven model, including a 15% USDT referral program and a $250,000 giveaway to boost community engagement .

The shift in investor sentiment underscores a broader trend toward utility-focused projects. While Pi Network's long-term success hinges on the adoption of its DeFi tools and infrastructure development, Remittix's immediate traction highlights the appeal of solutions bridging crypto and traditional finance . Cardano holders, in particular, are allocating capital to projects like Remittix, which aligns with their emphasis on practical applications over speculative gains .

Technical indicators for Pi Network show mixed signals. The token has consolidated above the $0.2565 support level, with the RSI recovering to 33 and the MACD nearing a bullish crossover, suggesting potential for a short-term rebound . However, a break below $0.2565 could extend the decline toward $0.2000 . For Remittix, the presale's success and CertiK verification have bolstered credibility, with analysts forecasting significant post-listing momentum as liquidity expands .

In summary, Pi Network's price trajectory remains uncertain despite strategic DeFi advancements, while Remittix's utility-driven approach has captured investor attention, particularly among Cardano holders seeking high-growth opportunities. The interplay between speculative altcoins and utility-focused projects will likely shape market dynamics in the coming months.