Dan Crypto, who is considered to be one of the most well-known cryptocurrency experts and who has more than 600,000 followers on X, recently shared his opinions on the present state of the Bitcoin market. The project is getting ready to face one of its most significant obstacles to yet, which is a major token unlock that has the potential to have a significant influence on the price of Pi Coin. June is drawing near.
Pi Coin is now selling at about $0.75, which is a decrease from its most recent high of more than $1.50. The daily trading volume has decreased to around $135 million, which is a significant decrease from the remarkable $1.7 billion volume that it experienced when Pi broke the $1 level. This is another factor that is adding to the worries.
A straightforward market dynamic is responsible for the decline in the price of Pi, as stated by market experts: there is a greater number of sales than purchases. When there is a decrease in demand and an increase in supply, prices will naturally decrease. The fact that a significant unlock event is on the horizon has investors growing even more sceptical about the situation.
It is anticipated that 264 million Pi tokens will be unlocked in June of 2025, making it the biggest unlock event that will take place during the rest of the year. It is possible that this rush of tokens will swamp the market, which will add to the pressure to sell and may drive the price down even lower.
It is interesting to note that the official “.pi” domain is also scheduled to expire on June 28. Numerous traders feel that this might potentially open the door for a short-term price increase, although views are varied on the matter.
Pi Network has taken a smart step by formally joining the market in the United States via Kraken Pro, which is one of the most prominent cryptocurrency exchanges in the world. This latest development is a great development. Recent developments on the platform include the introduction of perpetual futures contracts for Pi Coin. These contracts enable traders to leverage their holdings by up to 20 times, which may indicate that institutional interest is developing.
Pi Coin is still seen by many to be a project that has the potential for long-term development, despite the recent price collapse. The Pi Network team is continuing to work on growing its ecosystem, building new apps, spending millions of dollars into the expansion of the platform, reducing limitations placed on users, and investigating further real-world uses for its token and other applications. The experts, on the other hand, are of the opinion that in order for Pi Coin to genuinely establish itself, it needs first get listings on larger exchanges like as Binance and Coinbase.
There are no reviews yet. Be the first one to write one.
