"Pi Network (PI), Trading Volume Drops 44%... Investor Sentiment Weakens Due to Miner Exodus"

Minseung Kang

Summary

It was reported that the daily trading volume of "Pi Network" dropped by 44%, weakening investor sentiment.
Concerns were raised about additional selling pressure as 134 million Pi Coins are expected to be distributed in the market every month.
It was stated that miner exodus could lead to a decline in confidence in the project's sustainability.

An analysis has emerged that the investment sentiment for Pi Coin (PI) is rapidly weakening.

According to the cryptocurrency specialist media CoinGape on the 11th (local time), the daily trading volume of Pi Network was recorded at $158 million, a 44% drop compared to the previous day. This suggests that the interest of investors in the market is rapidly waning.

Cryptocurrency analyst Dr. Altcoin warned, "Every month, 134 million Pi Coins are expected to be unlocked and distributed in the market. Additional selling pressure is inevitable," adding, "If there are no measures such as token burning or ecosystem demand expansion, the price of PI could plummet below $0.30."

Meanwhile, signs of miner exodus from Pi Coin are also appearing. The media added, "Many miners seem to have given up on the project as the already mined PI is not being transferred to personal wallets." Miner exodus can generally lead to a decline in market confidence in the project's sustainability.