Suspicious Banxa Activity Sparks Pi Network Price Volatility Concerns. . .

An expert has warned investors to prepare for significant price swings in Pi Network after a wave of new accounts were created on the Banxa platform, each with a balance of just 0.98 Pi.

While the entity behind this synchronized account creation remains unidentified, Dr. Altcoin believes it may be an attempt to execute tactics like wash trading — creating fake market activity through artificial buy-sell actions. Moreover, if a large volume of Pi is sold simultaneously from these small wallets, it could trigger false selling pressure and crash the price.

Maintaining wallet balances below 1 Pi may be a deliberate strategy to bypass trading platform rules and avoid detection.

Earlier this April, Banxa officially launched support for Pi Network, enabling users to buy, sell, and store Pi coins. Since then, more than 1.2 million Pi purchases have been made through the platform.