Cryptocurrency Market Downturn: PI Hits Record Low, HYPE Sees Surge

Cryptocurrency prices have taken a hit across the board, with Pi Network (PI), Hyperliquid (HYPE), and Ethereum (ETH) all experiencing downward trends.

According to recent data, Pi Network has hit a record low of $0.1300, down from its earlier low of $0.1186 on Thursday. This decline is attributed to a broader market risk-off sentiment, which is affecting investor confidence and causing a decrease in deposits totaling roughly 1 million PI tokens over the last 24 hours.

On the other hand, Hyperliquid (HYPE) has seen a significant increase in price, reaching an all-time high of $75.76 on Thursday. This surge is largely driven by ETF demand and capital rotation, with approximately $135 million flowing into newly launched HYPE-focused ETFs last month.

Meanwhile, Ethereum (ETH) has fallen below $1,800 for the first time since May 2025 due to accelerated spot selling pressure and distributions from long-term holders. The Age Consumed metric, which tracks previously idle tokens or long-term holders' coins, spiked over the past two days as prices declined.