While the crypto currency market suffered a strong rise in the last 24 hours, some beings could not keep up with this acceleration. Unlike the market, Pi Network has been among the depreciation and today has decreased by 5.2 %. PI, which lost more than 30 %in the last week, has seen a decrease to 70 %since the summit level in February.
Bitcoins and Altcoins are getting stronger
Bitcoin, despite the recent fluctuations in the rise again, seeing the $ 87,000 level. After reaching a level of 87,500 dollars last week, BTC, which entered the process of recovery despite the decline, created a positive atmosphere in the market.
In the Altcoin market, the rise movement drew attention. Avalanche (AVAX), especially, increased by 12 %to $ 21.8 and became one of the huge rise assets. Popular Altcoins such as Solana (left), Chainlink (Link) and SUİ (SUİ) also performed well. However, some crypto beings such as Tron (TRX) and PI Coin could not benefit from this rise. TRX experienced a loss of 4.1 %, while PI Coin fell by 5.2 %and disappointed its investors.
A large amount of PI Token Entrance to Stocks increased sales pressure
The decline in PI Coin can be explained by some basic factors. Recently, Pi Network has announced significant partnerships to improve the ecosystem, but this news did not have a positive impact on the price.
More importantly, a sharing by Pi Network’s official X (former twitter) account Pi News worried investors. According to the share, the amount of PI Coin deposited in the central stock exchanges reached a record level with 330 million PI. Generally, the transfer of a large amount of assets to the stock market indicates that investors are preparing to sell. This stands out as one of the biggest reasons for the decline in PI Coin’s price.
Pi Network Ecosystem Development and Expectations for the Future
Despite this decline, the Pi Network team makes positive statements about the future. The team thinks that with the expansion of the PI ecosystem, the token price can rise again. However, as the sales pressure on the market continues, the probability of recovery in the short term seems low.
While a general ascension trend is experienced in the crypto market, the fact that PI Coin is in a decline attracts the attention of investors. In the coming period, the decrease in sales pressure in the stock exchanges and the support of the ecosystem developments support will play a critical role in determining the direction of PI Coin.
