PI Token dey fall as Protocol 21 deadline dey near
PI token dey slide as traders dey brace for Protocol 21 upgrade deadline. Price don fall below $0.175, down about 13% for the week and over 3% in the past day, wey clear many things wey the post-Kraken announcement rally bring when PI nearly reach $0.30 small time.
Pi Network core team talk say mainnet upgrade to Protocol 21 get required deadline to finish by April 6. Mainnet nodes dem dey ask make dem finish the upgrade step before cutoff so dem go still dey connected to the network.
The move come after mid-March spike wey tie to expectations of Kraken listing. Once the listing become official, market change to sell-the-news reaction and PI drop again below $0.20.
Token unlocks fit add pressure. PiScan estimate say average daily unlocks about 7M PI for the next month, with some days pass 10M PI.
For traders, the key risks na uncertainty around PI token execution into April 6 and unlock-driven supply wey fit pressure order books even if upgrade headlines stabilize sentiment.
Bearish
Both summaries dey treat the latest move for PI token as fundamentally bearish. After di Kraken-related listing news confirm, traders seem don do sell-the-news rotation, wey push PI back below key levels ($0.20 and now below $0.175). Plus, di Protocol 21 upgrade get deadline wey dey come (April 6), wey fit increase downside risk if any execution delay or node connectivity wahala show.
Di newer trader-relevant add na di unlock profile: estimated daily unlocks around 7M PI (some days pass 10M) fit steadily increase circulating supply and pressure liquidity for di order book. Short term, dis combination of sell-the-news positioning plus unlock-driven supply raise di chance say weakness go continue and volatility go high. Long term, the bias fit improve only if upgrade execution confirm smooth and supply pressure decrease; until then, sentiment likely go remain fragile.