The Pi Network ecosystem just witnessed a major shift: in the past 24 hours, over 3.3 million PI tokens have been voluntarily locked by Pioneers, signaling strong long-term confidence in the project’s future.
🔹 Token Locking as a Signal of Trust
The latest wave of token locking came after the Pi Network team reduced the mining rate and encouraged users to lock their tokens. The community responded immediately: 3,349,768 PI tokens—approximately 0.13% of total circulation—were locked for at least two weeks.
Pioneers are clearly not willing to sell their hard-earned tokens for current prices around $0.35, betting instead on Pi’s real-world utility and long-term value.
🔹 Mining Rate Drops, Daily Unlocking Slows Down
The new mining rate—0.0027746 π/h—is the lowest in the project's history. Simultaneously, daily token unlocking has dropped from 9 million to 5.9 million, limiting fresh PI supply and potentially helping to curb inflationary pressure.
Still, more than 19 million PI tokens were unlocked in the first three days of August, extending July’s trend where over 72 million PI were released. This led to a price dip to $0.32, as traders opened aggressive short positions.
🔹 Transaction Failures and User Drop-Off
Data from PiDoor shows that 53% of daily transactions are failing. Out of 200,000 attempts, over 100,000 fail to process. This highlights technical challenges and possibly declining user interest—platform activity has decreased from July to August.
Pi Coin is currently trading at $0.3553, with a market cap of $2.76 billion, placing it 39th among all cryptocurrencies.
🔹 Bitget Steps In and Whales Buy the Dip
The Bitget exchange has launched promotions to boost liquidity, offering rewards to users who deposit Pi tokens. Some analysts believe these efforts, combined with network improvements, could lead to a Pi recovery.
Notably, whales appear to be buying the dip—one major purchase saw 350 million tokens scooped up, hinting at a possible sentiment shift.
🔹 Technical Signals and Market Outlook
Technical indicators, including expanding Bollinger Bands, suggest a potential rebound. However, broader crypto market sentiment remains uncertain—Robert Kiyosaki has warned of a Bitcoin correction, and analyst Arthur Hayes predicts BTC could fall below $100,000, which would drag Pi Coin down with it.
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