What Lies Ahead for Pi Network’s Price? Exploring the Bullish and Bearish Cases

TL;DR

• Hypothesis grows round potential listings on main exchanges, which may considerably increase PI’s publicity, accessibility, and worth momentum.

• Alternatively, an enormous token unlock of over 212 million PI is on the horizon, sparking considerations of sell-offs and added downward strain on the valuation.

Large-Title Backup on the Horizon?

Pi Community’s native token, which lastly saw the light of day earlier this yr, has plummeted considerably because the peak witnessed on the finish of February. Recall that PI skyrocketed to an all-time excessive of just about $3 again then, however at present it trades at round $0.61, marking a staggering 80% decline for the timeframe.

One important issue which will spark a brand new rally is the extra assist from main exchanges. HTX (previously referred to as Huobi) just lately uploaded a cryptic submit on its official X account. It reveals a pyramid set in opposition to a backdrop of skyscrapers, with the PI brand subtly seen on one of many buildings.

Headquartered within the Seychelles, HTX claims it serves greater than 45 million customers throughout over 160 nations. A list on such a high-profile platform may considerably increase PI’s liquidity and enhance entry, which may probably result in a worth restoration.

In the meantime, OKX, Bitget, Gate.io, CoinEx, BTCC, and others are among the many buying and selling venues which have already embraced the token up to now few months. 

There have been additionally rumors about doable listings on Binance and Coinbase. The previous issued a group vote in February to find out whether or not its customers wish to see PI out there on the platform. Whereas the overwhelming majority of voters clicked the “sure” possibility, Binance stays silent on the matter. 

Paul Grewal (Coinbase’s Chief Authorized Officer) fueled hypothesis with a playful nod to Pi Community in mid-March when saying:

“We take PiDay at Coinbase very significantly.”

Opposite to his interplay, the token stays unavailable on the US-based crypto trade.

Watch out for a Additional Crash

The large token unlock scheduled for the subsequent few weeks could disappoint the bulls. As CryptoPotato beforehand warned, hundreds of thousands of PI might be unlocked within the brief time period, giving early adopters an opportunity to money out and thus negatively impacting the worth.

Virtually 10 million tokens are scheduled for launch right this moment (April 18), whereas the overall unlocks within the subsequent 30 days is ready at over 212 million. April 30 is predicted to be the report day when 11.2 million PI might be freed up. 

It’s price noting that the most important token launch accelerated firstly of the enterprise week, coinciding with a double-digit drop in PI’s worth.