Pi Network Adds TransFi Fiat On-Ramp as PI Rebounds Amid Rising Exchange Reserves and Token Unlocks
Pi Network has secured TransFi as its latest KYB-verified fiat on-ramp, joining Banxa and Onramp.money and allowing direct PI token purchases via the Pi Wallet. Dubai-based DApp Chainphon also launched a PHONE/PI trading pair on August 12, expanding access beyond platforms like OKX, Gate.io, and Bitget. Over the past week, the PI token rebounded around 10%, trading near $0.40, supported by a potential cup-and-handle formation targeting $0.50–$0.52. However, PI token remains over 80% below its February peak and has fallen out of the top 50 by market cap. Centralized exchange reserves of PI hit a record 411 million, mainly on Gate.io and Bitget, suggesting increased sell pressure. Additionally, more than 167 million PI tokens are scheduled to unlock in the next 30 days, with approximately 10 million set to release on August 16, posing further near-term downside risk.
Bearish
While the new TransFi fiat on-ramp and DApp listing by Chainphon have boosted PI token demand and contributed to a 10% price rebound, record exchange reserves and over 167 million tokens scheduled to unlock in the next 30 days create significant selling pressure. The imminent release of around 10 million PI on August 16 may trigger further supply-side sell-offs, limiting short-term gains. Although expanded on-ramp options and domain auction extensions could support long-term adoption, the current oversupply risk and PI’s steep discount from its February peak suggest a bearish market outlook.