- A possible release of PI Coin has triggered caution among investors and early supporters.
- The loss of price is feared under $ 1; But the growing PI application could vehemently.
The native digital asset of the PI network, Pi Coin (Pi), is slightly traded in the middle of a massive general sale below $ 1.4. At the same time, many investors have decided to stay on the sidelines before the upcoming token activation. This event can trigger a Pi coin crash, but experts remain optimistic, especially with the expectations of a possible bony list.
Pi coin price outlook
The price of Pi Coin has dropped by 4.5 %in the talent and is traded for $ 1.36. The daily trading volume has also dropped by 50.8 % to $ 494.2 million. Pi Coin has reached a daily high and a daily low of $ 1.45 or $ 1.30. The cryptocurrency has lost over 21% of its value in the past seven days and 19% since its introduction on February 20.
Despite the latest decline, Pi was able to defy the general market sales trend. For comparison: Bitcoin crashed by almost 2.3 %, with the latest reports indicate a possible crash to $ 70,000. Ethereum (ETH) also fell by over 8 % today which indicates a declining interest of investors in risky systems.
Just a few days after the market launch, Pi Coin’s acceptance rose suddenly because more and more users are talking about the digital asset. The real estate company Zito Realty LLC now accepts PI as a payment option, which further strengthens the trust of the market.
Despite these positive developments, the market participants remain skeptical because there is an unlock event on the horizon. Piscan’s data show that an average of 9.05 billion tokens are unlocked every day, which corresponds to a value of $ 12.4 billion. It is expected that the upcoming token activation will significantly increase the offer.
At the activation on March 17th and 21st, 23.1 million PI or 23.4 million PI will be released. In the next 30 days, 271.68 million PI worth $ 543.36 million will be brought into circulation by activation.
Possible effects of PI approval
The influx of new tokens could increase sales pressure and drive the price below $ 1. This scenario follows the economic principle, which says that an increase in the offer without the corresponding demand drives prices down. Against this background, retailers should be careful and hesitate to invest before the unlock event.
According to analysts, PI could fall below the psychological brand of $ 1 if the course does not withstand sales pressure. Despite the pessimistic prospects, the market participants keep an eye on the coin because the expectations of a bony node increase. How CNF reportedhave already voted 86% of users for PI’s Bony listing, which heats up market optimism. If this listing takes place, it can boost the price of the digital currency.
PI is currently the 11 largest cryptocurrency after market capitalization, which shows its increasing user base and acceptance. In the meantime Has Binance, as CNF reported, was recently introduced to a groundbreaking listing model that may open the door for Pi Coin.
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