JPMorgan Bridges TradFi and DeFi, While Pi Network Faces Bearish Pressure
JPMorgan Bridges TradFi and DeFi, While Pi Network Faces Bearish Pressure
JPMorgan has launched its yield-bearing JPM Coin on Coinbase's Base network, marking a significant step in integrating traditional finance with decentralized finance by enabling 24/7 institutional settlement. This positions Base as the first public blockchain to host regulated banking tokens. Concurrently, the Pi Network is experiencing mounting selling pressure due to massive token unlocks, rising exchange reserves, and weak liquidity, potentially leading to new lows despite continued support from loyal users.
JPMorgan Forges New Path Between Banks and DeFi
In a landmark development, JPMorgan has begun rolling out its yield-bearing JPM Coin deposit tokens on Coinbase’s Base network. This initiative represents a major milestone in bridging traditional banking with decentralized finance (DeFi), offering institutional clients the capability for 24/7 settlement. The move highlights Base's unique position as the first public blockchain to host regulated banking tokens and facilitate open finance applications, signaling a growing institutional embrace of blockchain technology.
Pi Network Grapples with Significant Selling Pressure
Conversely, the Pi Network is reportedly facing substantial headwinds that could drive its price to new lows in November. Analysts point to several factors contributing to mounting selling pressure, including massive token unlocks, an increase in exchange reserves, and persistent weak liquidity. While these indicators suggest a bearish outlook, loyal supporters of the Pi Network remain optimistic, holding out hope that the project's long-term fundamentals will eventually trigger a rebound.