Despite a Market-Wide Rebound on April 2nd, the Broader Crypto Market Cap Is Still at Mid-March Levels

This article is for informational purposes only and does not provide financial advice. Cryptocurrencies are highly volatile, and the market can be unpredictable.

The broader cryptocurrency market cap remains at mid-March levels despite a market-wide rebound on April 2nd. Over the rest of the first week of April, Bitcoin (BTC) and most altcoins saw their prices tank.

However, the poor performance of leading cryptocurrencies did not deter Pi Network (PI), which recorded a massive 52% soar between April 4th and 5th.

Additionally, the Solaxy (SOLX) presale is gaining momentum with almost $30 million raised while Solayer (LAYER) is showing potential for a breakout.

Analyst Believes Pi Network Has Room to Soar Even Further

PI reached an all-time high (ATH) on February 26th, when it was valued at $2.96, but the token experienced a continuous downturn since, reaching $0.513 on April 4th.

PI’s steep drop is often attributed to its inability to land a Tier 1 exchange listing, even though an official Binance poll, launched in February, ended with the voters’ overwhelming support for its addition to the exchange.

However, PI entered April with a new listing on BTCC and, according to recent reports, is now live on Banxa. That means PI is now available for purchase using fiat currency, resulting in an increased demand as the token is exposed to a broader user base.

The positive developments surrounding PI are likely behind its impressive surge in daily trading volume, which skyrocketed by 148.82%. The surge coincided with PI’s downturn coming to an abrupt stop on April 5th, when PI skyrocketed to $0.784, representing a 52% rise over 24 hours.

Crypto analyst Gem Hunter believes PI’s breakout has just begun, expecting the token to keep soaring until it peaks above the $1 mark.

Prior to the breakout from the $0.5 level, PI’s technical indicators were showing extremely oversold conditions, with its Relative Strength Index (RSI) falling below 20. Following the rally, the RSI jumped above 70, with the sudden shift signalling PI has the momentum for further short-term gains.

While the bullish sentiment surrounding PI could reignite Binance’s interest in listing the token, the Tier 1 exchange didn't include PI in its recent “Vote to List” lineup, which was dominated by BNB-based projects instead.

However, given the impressive support PI got from Binance's community on its original listing poll, a future listing shouldn't be excluded, and if it happens, it could send PI to new highs.

Solaxy Seeks to Enhance Solana’s Scalability While Solayer Shows Explosive Potential

Pi Network isn't the only altcoin on the move; Solaxy is becoming one of the biggest presales in recent history with nearly $30 million raised. The project centers around the upcoming Solaxy Layer 2 blockchain, designed to improve Solana's scalability by introducing rollups.

With rollups, Solaxy intends to bundle and process transactions off-chain, reducing the strain on Solana's mainnet to speed up transactions and provide investors with lower gas fees.

SOLX's per-token price is set to reach $0.00169 during the ICO, according to its whitepaper, leaving investors with limited time to purchase it at a lower entry point.

Meme coin expert Austin Hilton is now issuing a final call to his audience, expecting the presale to close its doors to new investors "fairly soon."

The expert urges his followers to buy Solaxy at a discount during the ICO and take advantage of the project's 140% staking APY, as he expects it to explode on launch.

Solayer's recent success highlights surging investor interest in projects that can help increase Solana's scalability, as LAYER saw its price increase by over 70% between early March and April.

Solayer introduced a Layer 1 hardware-accelerated blockchain that leverages the Solana Virtual Machine (SVM), making Solana decentralized apps (dApps) easily compatible with Solayer.

Solayer's next-gen architecture makes it a strong choice for dApps that require low fees and high throughput, which has fueled rising investor interest as traders recognize its potential to revolutionize the Solana ecosystem.

Charts analyst Coinvo has identified a sustained uptrend with a clear ascending channel since mid-February, which shows the token bounced off the middle trendline multiple times, demonstrating strong support levels.

As the chart confirms, buyer confidence is strengthening, and its current position could result in further upward movement if the buying pressure persists, making this an excellent time to start accumulating LAYER.