The negative price of the modified coin in the PI network extends with the growth of central concerns
The price of the PI came back to the landing path on Monday amid weakness in its basics. The currency decreased by 5.6 % at the time of writing this report, wiping a large part of the gains on Sunday and trading at $ 0.709. The currency is currently fighting sour feelings, ranging from concerns about the perceived central to a more dangerous claim to withdraw the potential rag.
The currency rose to its highest levels for two months from $ 1.670 last week, as investors bought hope in a major advertisement before the 2025 consensus event. The event, which was held in Toronto, Canada between 14 and 16 May, was one of the largest Blockchain industry, and the founder of the Pi Nicholas Cocalis network was a major speaker. However, his speech was scary to PI network holders.
Kokkalis speech, which focuses on safety and knowledge of your customer (KYC), and failed to provide a significant update on the development of the PI network ecosystem and the value of the PI network. In addition, the PI Core team announced a project of $ 100 million, and the formation of the PI, both of which failed to arouse the investor’s interest.
Meanwhile, the Pi Coin has increased pressure without developments on its ecological system since the launch of Mainnet in February. The network is controlled by 23 contracts, making it largely central. In addition, the PI is not open to general membership, and there is no mechanism for the 70 billion PI codes that it holds.
The lack of transparency makes it vulnerable to abuse and is likely to continue to chase the network. In addition, the declining pressure on the price of the PI network is exacerbated due to the decrease in the huge distinctive symbol that will continue for the rest of the year. For example, 5.7 million icons will enter $ 4.04 million today.
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The momentum indicates the price of the PI network to a possible continuation of the negative aspect less than $ 0.730. The first support is likely to be at $ 0.752. However, the strongest momentum will break to less than that sign and can test $ 0.675.
On the contrary, going up from $ 0.730 will invite buyers to control. This first barrier, which was created at $ 0.752, will witness. Listing the negative side will be invalid if the price exceeds this level. It can be paid an extended console by buyers to the top of PI to test $ 0.777.
