#Pi

Trade pi now . . ❤❤❤❤

𝙒𝙝𝙮 𝙄𝙨 𝙋𝙞 𝙉𝙚𝙩𝙬𝙤𝙧𝙠 𝙋𝙧𝙞𝙘𝙚 𝘿𝙤𝙬𝙣 𝘿𝙚𝙨𝙥𝙞𝙩𝙚 𝙈𝙞𝙜𝙧𝙖𝙩𝙞𝙤𝙣 𝙈𝙞𝙡𝙚𝙨𝙩𝙤𝙣𝙚

The Pi Network has reached a significant milestone with the successful progression of its migration phase, marked by an impressive surge in activity. However, this major development has been overshadowed by a notable decline in the Pi Coin price. What’s behind this downturn? Despite this crucial update, the Pi Coin price has dipped into the red, fueling traders’ anxiety and concerns. The token again failed to rally, this time despite migration progress, similar to its muted response on Pi2Day.

As revealed by the Pi Network in an X post, the migration phase began on July 1. On the Pi2Day, the network announced that the 6-month Grace Period, which is crucial for preparing the platform for the Open Network, would commence on July 1.

Reportedly, the platform continues to make steady progress toward its full Mainnet integration. Over 16.8 million Pi were migrated on July 8 alone, with a value exceeding $7.9 million. As per the latest report, more than 75 million Pi were migrated since July 1, with an estimated value of over $37 million. This significant migration surge indicates that Pioneers are preparing for full utility, including trading and ecosystem dApp usage.

Moreover, the Pi Network advised Pioneers to update their Pi Wallets, complete their KYC, and stay ready for the next steps. The network emphasized that every update is crucial in this decentralised revolution, and the path to global utility is being built block by block, wallet by wallet.

As CoinGape reported recently, the Pi Coin’s bearish trend is driven mainly by its expanding supply. The network’s mobile mining feature has increased token circulation, putting downward pressure on the token price. Expert Zoe reportedly highlighted that the lack of deflationary mechanisms, such as token burns, further escalates the negative momentum