The Countdown to Collapse Behind PI's Prosperity: Where Will 35 Million Users Go?
1. Current Situation: Exchange Hunting Under False Prosperity Behind the false prosperity of '230,000 new miners daily', top exchanges like Coinbase and Binance have quietly set up 'traps'. In the past three months, the daily trading volume of Pi futures on second-tier platforms like Huobi and Gate.io has plummeted by 82%, with K-line charts showing very shallow depth, indicating that exchanges are draining Pi Network's liquidity. Risk control documents obtained from the dark web indicate that the median number of coins held in Pi's real addresses is only 1.2, with the top 0.3% of addresses controlling 84% of the tokens, leading to a concentration of chips far exceeding USDT, making it difficult for market makers and threatening market stability.
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