Another Day, Another ATL for Pi Network’s PI: Who Is Selling?
Main Idea
The cryptocurrency market has experienced significant declines, with Bitcoin and altcoins dropping sharply, and PI Token hitting a new all-time low.
Key Points
1. The total cryptocurrency market cap has lost over $250 billion, with Bitcoin falling below $113,000 and altcoins dropping 5-10%.
2. PI Token's price slumped 16% in a day and over 30% monthly, reaching a new all-time low of $0.34.
3. Some exchanges saw even steeper price declines, raising questions about who is selling at such low levels.
4. Data from PiScan indicates a potential near-term relief, with the daily number of freed coins dropping to 5.3 million from over 7 million in June.
Description
TL;DR Pi Network’s native token can’t catch a break as the asset has marked another double-digit price plunge in the past 24 hours to a fresh all-time low. This has prompted project proponents and analysts to ask who is selling at such adverse times for the underlying asset’s price. PI Token Price. Source: CoinGecko It’s safe to say that the past few days have been quite painful for the entire cryptocurrency industry, with more than $250 billion evaporating from the total market cap. Bitcoin’s p...
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