Since launching its Grace Period on July 1, aimed at onboarding users through KYC and wallet setup, millions of Pi […]
The post Pi Network Continues to Struggle, Despite Hitting a Recent Milestone appeared first on Coindoo.
Since launching its Grace Period on July 1, aimed at onboarding users through KYC and wallet setup, millions of Pi tokens have been migrated to the mainnet.
Community participation has been strong, with over $37 million worth of tokens moved so far.
Despite this growth, Pi Coin continues to trade near its lowest levels. Analysts point to a sharp increase in circulating supply, fueled by mobile mining rewards and upcoming token unlocks, as the main driver of the downward price trend.
-----Cryptonews AD----->>>
July alone is expected to introduce over 200 million new tokens into the market, raising concerns about oversupply.
Even with Bitcoin rallying and user engagement high, Pi’s market performance remains weak.
The disconnect between ecosystem progress and price action suggests that until supply is managed or demand increases, the token may continue to lag behind the broader crypto market.
The post Pi Network Continues to Struggle, Despite Hitting a Recent Milestone appeared first on Coindoo.
Source: https://coindoo.com/pi-network-continues-to-struggle-despite-hitting-a-recent-milestone/
[ajax_load_more]
