7,000,000 Pi in just 1 day: is the price of Pi Network ready for a further collapse?

Tl; Dr.

• Pi has fallen by 90% compared to its record high of around $ 3 registered in February, and some factors suggest that the crash could intensify in the short term.
• Onstramp -money recently embraced the active, but members of the community believe that support from Binance of Coinbase offers the spark for a continuing rebound.

The worst is not over yet?

The native token of PI network experienced a remarkable revival by the end of last month, with its price that reached almost $ 0.40. The pump took place shortly after the team behind the project entered A Linux junction version, which extends the OS options outside of Windows and Mac.

However, the green days were replaced again by a substantial correction, in which Pi tumbled to $ 0.33 and later somewhat recovered to its current value of $ 0.34 (according to Coingecko’s data).

Moreover, different red flags suggest that the pain for the bulls may not be over. The range of Pi -Tokens on exchanges has reaches A record high of almost 428 million, with around 7.1 million coins that flow into these platforms in the last 24 hours. Almost 50% of the entire stock is stored on Gate.io, while Bitget comes in second place with around 143.5 million.

The shifting of self -spice methods to exchange is usually interpreted as a bearish sign, because it suggests that investors may prepare to sell. In general, the influx of coins on the Open Markt, combined with non-reversing demand, leads to a price decrease.

The upcoming token disclosures are another factor that is worth considering. More than 12 million PI will be released today (September 2), so that one of the record days for the following month will be marked when a total of 161.3 million coins will be be released.

The development does not guarantee a massive sale, but enables investors to load assets that they have been waiting for a long time.

Is there light at the end of the tunnel?

An element that can inhibit the most important fall of PI in recent months is an increased support from companies. Only a few hours ago, on-radio money, a Fiat-to-Cypto Gateway, embraced The active on his platform.

However, the disclosure did not offer a price increase for PI. Industry participants are of the opinion that supporting a large crypto exchange rather ignites a rally. Binance already sought -after The users or they want to see PI available to act, but despite the overwhelming support, it remains silent about this.

There are also rumors that coinbase can offer services for token, although there is nothing officially confirmed yet.