- Pi Network PI token surged 13% last week thanks to new fiat on-ramp partnerships and extended .pi domain auctions.
- However, rising exchange reserves and upcoming token unlocks may increase selling pressure soon.
Pi Network’s native cryptocurrency, PI, experienced a notable 13% price increase last week, rising above $0.46 before settling near $0.40. This strong performance has sparked mixed reactions among investors as the project advances with new partnerships and features, while facing potential selling pressure from rising exchange reserves and upcoming token unlocks.
Mixed Sentiment on PI Network Future Price
Following the recent price surge, opinions remain divided. Some investors, like user Friedrich, have opened long positions expecting further gains. Conversely, analysts such as “pinetworkmembers” urge caution, suggesting the widely anticipated $1 target may not be achieved soon.
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Exchange Reserves Rise, Increasing Selling Risks
A key concern is the growing amount of PI tokens stored on centralized exchanges. Over 407 million PI are currently held on platforms like Gate.io, which alone holds 194 million tokens. This accumulation could lead to increased selling pressure, especially with nearly 170 million PI tokens scheduled for unlocking in the next 30 days. August 16 stands out as a significant date with 9.8 million tokens becoming available.
New Fiat On-Ramp Partnerships Boost Accessibility
Pi Network recently integrated TransFi as a KYB-verified fiat on-ramp partner through Onramper. This partnership allows users to purchase PI tokens directly using local currencies and various payment methods, simplifying access for new users. Other verified partners include Onramp.money and Banxa, further expanding PI’s reach.
Extended .pi Domain Auction Encourages Innovation
The ongoing .pi domain auction has been extended until the end of September. These domains enable users to create easy-to-remember wallet addresses ending with .pi, similar to Ethereum’s .eth and Binance Coin’s .bnb. This development improves user experience and fosters ecosystem growth.
What Lies Ahead for Pi Network?
While PI’s price may face short-term challenges from token unlocks and growing exchange reserves, new partnerships and user-friendly features like .pi domains support long-term adoption. The combination of these factors positions Pi Network for potential sustained growth in the cryptocurrency market.
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