Valor Pi (PI), a product negotiated on the stock market (FTE) designed to follow the native cryptocurrency of Pi Network, had trouble taking momentum with little market activity.
Despite the lack of traction in the ETP, the PI piece begins to show its strength. The room reached its highest level this month, fueling hopes for wider recovery.
Sponsored
Sponsored
Why the momentum of the Pi Coin market diverges from Sound FTE
Beincrypto previously pointed out that the Valor PI ETP had been launched at the end of August on the Sweden stock market. Trading in Swedish Kronor with 1.9%management fees, ETP was praised as an important step for the integration of the PI network into traditional finance.
However, more than two weeks after its beginnings, the product struggled to arouse interest in investors. Spotlight’s commercial data showed a drop in volumes, the activity sometimes falling into one exchange per day. This indicates a lack of enthusiasm on the European market.
On the other hand, Pi Coin himself showed a renewed momentum. Beincryptto’s latest analysis suggested that a decisive movement above the resistance at $ 0.3469 could open the way to $ 0.3587. Meanwhile, a drop less than 0.3391 could trigger a hollow reward of all time at $ 0.3220.
The Haussier scenario materialized while PI increased to $ 0.36 during the first hours of Asian negotiation, marking its highest price this month. According to Beincrypto market data, Pi Coin recorded a daily increase of 1.73%. At the time of writing the editorial staff, he negotiated at $ 0.352.
Sponsored
Sponsored
This upward movement does not occur in isolation. The wider market of cryptography has also increased, with all the main parts of the green. In addition, optimism around the co -founder of Pi Network appearing in Token2049, combined with a growing season of Altcoin season, can also support recent price gains.
Nevertheless, the modest increase is not yet sufficient to reverse the wider drop trend. However, this has not dissuaded certain investors to bet big on PI. According to piscan data, a portfolio of whales has accumulated substantial quantities of OKX Exchange PI.
The whale bought 441,549 ft just a few hours ago and now has a total of 373 million pi. These large -scale purchases often signal optimism on the long -term potential of a token.
“Pi will print the largest green candle in the history of cryptography, Hands Dow, and you will be proud to never give up pi,” posted a pioneer.
In addition, Pi Network has implemented a strategic reduction in its mining awards to improve the shortage of tokens. A recent article in the Times of Pi Network on X announced that the basic extraction rate for September had been reduced by 1.23% to 0.0027405 ft per hour.
At this rate, it now takes more than 15 days to extract a single bonus pi. This decision could stabilize prices by tightening the offer. For the moment, the Pi Coin prices push reflects a confluence of the accumulation of whales, the management of the offer and the optimism of the market, and if this momentum will be sustained remains uncertain.
