A strong jump backed by 'whales' 🐋🐳
This sharp increase is due to significant accumulation by whales, where one of the large investors moved 70 million Pi coins from exchanges, contributing to a strong price increase. Additionally, another investor purchased 20 million Pi on the OKX exchange, adding significant momentum to the rise.
Meanwhile, individual investors have also been buying large amounts of Pi coin, driven by positive factors including the upcoming 'Consensus Summit' scheduled for mid-May, which is expected to be a new starting point for the coin's prices.
Additionally, rumors have surfaced about a possible important announcement on May 14 by the Pi team, fueling market enthusiasm and increasing the pace of buying, at a time when rumors are growing about a possible inclusion of the coin on the global 'Binance' platform, following a series of suspicious experimental transactions that have ignited market enthusiasm.
In a move aimed at supporting price stability after the end of the token unlock period, the core team of Pi began accumulating large amounts of the coin from centralized exchanges, reflecting a desire to stabilize the balance within the market and protect the coin from sharp fluctuations.
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Price of Pi Network in dollars today
The price of Pi Network has risen by 30.52% in the last 24 hours, reaching $1.26, according to data from 'coinmarketcap'.
The daily trading volume reached $1.28 billion, making it the biggest winner among the top 30 cryptocurrencies by market capitalization.
As the market capitalization reached $8.95 billion, surpassing Litecoin (LTC) and Bitcoin Cash (BCH), ranking 18th among the largest cryptocurrencies by market capitalization, after being in 27th place before the surge.