Pi Coin, which has become a favorite of investors, has also received its share of recent fluctuations in crypto money markets. In the last 24 hours, 11 %of the Pi Coin, which has been subjected to depreciation, has declined to $ 0.81. This decrease is considered part of a remarkable process in terms of both technical indicators and developments in the market.
Market conditions, supply concern and pi coin lock expansions are effective
Increased uncertainty in the crypto currency market has created anxiety for investors, especially with the increase in the uncertainty of the Fed’s interest policies. This uneasiness directly affected not only pioneering crypto assets such as Bitcoin, but also subcoins with rising potential such as Pi Coin. Pi Coin’s technically declining level of support levels increased sales pressure further.
However, the only source of print on the price is not macroeconomic conditions. Pi Coin has a very high total supply of 100 billion. The amount of token, which is in circulation so far, is around 6.76 billion. This imbalance brings concern that the future can seriously expand. Within the next 30 days, 99.3 million new token’s lock will be opened. The largest expansion will take place on April 3 and 6.8 million token will be added to the market. These developments stand out as an element that increases short -term sales pressure for investors.
Expectation to list the binance and the future of confidence in my ecosystem
The Pi Coin community has been focused on the possibility of being listed in Binance for a while. Although he received great support in the voting, there was still no clear explanation by Binance. This uncertainty caused some investors to lose confidence and close their positions. The psychological factors that trigger the decline in the market were thus activated.
Nevertheless, experts think that Pi Coin still has the potential in the long run. If Binance list takes place, this step will be an important development not only in terms of price, but also in terms of reputation and accessibility of the project. In addition, possible token burns and new uses to be integrated into the Pi ecosystem can reconstruct confidence to limit the circulating supply. Investors are now focused on both technical and basic developments; In the coming weeks, it will determine this balance.
