Main Takeways:-
- The creators of the much discussed project published an intriguing track last week about an upcoming statement, which can suspect that it is a list of Pi in Binance.
- That was not the case. On the other hand, the creators declared a $ 100 million campaign to support new businesses, but the price of the native token quickly fell just after the recent emotion and rapid increase.
Revealing the great announcement
On May 8, the official X channel beyond the project with more than 4.3 million followers said that the great news for the entire ecosystem would occur on May 14. Although no additional details were given, people in the community began to guess what could be. A popular assumption was a binance list because some members said Binance had tried deposits and withdrawals behind the scene.
But the list in the world’s largest cryptographic exchange will have to wait. Yesterday’s announcement was not commercial platforms. Instead, the team said that Pi Network Ventures are starting, a $ 100 million project on PI and USD to invest in new companies and companies that help make Pi more useful and used by real people.
The comments in the publication were mixed, as always. Some said it was a “big problem” for the entire community of Pi, while others said it is just another announcement about the plans, not what they have already done or are doing.
Pi garbage
Marketing after the first publication last week generated substantial yields for the native token of the project. It almost increased triple in less than a week, going from $ 0.6 to more than $ 1.7. However, this strong increase driven by advertising suddenly stopped and began to fall under $ 0.9 from now on.
This seems a typical situation of ‘buying the rumor, selling the news’, where the price goes up before official news, but decreases later. Pi has fallen by 28% in the last 24 hours and has lost 50% of its value since its recent maximum only a few days ago.
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