September has brought mixed emotions for Pi Network’s global community. The long-awaited version 23.01 upgrade finally rolled out, promising faster performance and stronger developer tools. A European exchange-traded product also gave Pi its first taste of institutional exposure. Yet, the token’s price remains stuck near 35 cents, a far cry from its highs earlier this year, and many holders are beginning to ask hard questions about where the project is really headed.
At the same time, another name has been rising quietly but decisively: Avalon X (AVLX). Built around tokenized real estate and backed by a developer, Grupo Avalon, with nearly a billion dollars in completed and upcoming real estate projects, Avalon X has turned its presale into one of the most talked-about events in the RWA (real-world asset) space. The contrast has not gone unnoticed, and it is reshaping investor conversations about what counts as a sustainable crypto project.
Pi Network has always been a story of scale. Tens of millions of people downloaded its mobile app, “mined” tokens on their phones, and joined a community that at one point looked unstoppable. That reach is still impressive, and the September upgrade—migrating the protocol onto Stellar’s infrastructure—was meant to prove the network could keep pace with modern blockchain demands.
But the market has been unforgiving. Roughly 160 million new tokens are unlocked this month, and exchange reserves already stand at over 400 million. Even with positive news such as the BTCC Swapfone listing and the rollout of Linux nodes, selling pressure has weighed on the price. Technical charts show a possible rebound if momentum builds, but many traders remain cautious.
Rumors of delistings on OKX and MEXC didn’t help. Though quickly debunked, they highlighted a deeper issue: confidence. A recent survey suggested more than a third of holders fear Pi could collapse altogether by 2026. For a project that once carried the hopes of mass adoption, that’s a sobering signal.
While Pi struggles to prove its utility, Avalon X is leaning on something harder to dismiss—real estate. The project’s goal is simple but ambitious: to allow anyone to hold fractionalized exposure to property through blockchain. Instead of chasing speculative value, Avalon X ties its AVLX token to a market that already represents the largest asset class in the world.
This isn't a theory. Avalon X is built in partnership with Grupo Avalon, a Dominican Republic developer with an established track record: $110 million in completed sales and almost a total of $1 billion of real estate development in the pipeline. That kind of backing provides a grounding most new tokens don’t have.
The presale structure reflects that seriousness. A capped supply of two billion tokens, staged releases, and built-in utility—such as discounts on Avalon properties and staking rewards—give holders more than just hope for price appreciation. A recent CertiK audit further reassures early participants.
Add to that a headline-grabbing $1 million giveaway, which even includes a luxury townhouse in Grupo Avalon’s Eco Avalon development, and it’s little wonder the presale is topping charts.
For seasoned crypto investors, the shift in sentiment makes sense. After years of meme coins and community tokens dominating headlines, the market is tilting toward projects that can tie digital ownership to something tangible. RWA is a buzzword now, but it also represents a direction regulators, institutions, and retail investors can all understand.
Avalon X has captured that moment. Minimum entry points as low as $50 make the project accessible, while the long-term vision—scaling into global real estate—offers upside beyond speculative cycles. Compared with Pi, where value remains largely tied to community size and exchange activity, Avalon X is offering a clearer path to durability.
Both Pi and Avalon X are at inflection points, though in different ways. Pi needs to prove it can transform an enormous community into a functioning economy with real adoption. Avalon X, meanwhile, must show that tokenized real estate can scale smoothly while maintaining investor trust.
For holders weighing their next move, the contrast is stark. Pi may still deliver a breakout if upgrades and ETP exposure translate into genuine demand, but it is battling skepticism and relentless token unlocks. Avalon X is presenting itself as a steadier alternative: asset-backed, audited, and built for long-term integration.
The crypto market has never been short on promises. What investors are looking for now is follow-through. Avalon X appears to have the foundation, as the presale continues to gain traction, it’s becoming increasingly clear why many are calling it the best RWA project on the market today.
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