Pi Network Don Add TransFi Fiat On-Ramp as PI Dey Bounce Back Amid Rising Exchange Reserves and Token Unlocks
Pi Network don secure TransFi as e latest KYB-verified fiat on-ramp, join body like Banxa and Onramp.money, wey dey allow direct PI token purchase through Pi Wallet. Dubai-based DApp Chainphon also launch PHONE/PI trading pair for August 12, make e reach reach more than platform like OKX, Gate.io, and Bitget. For the past week, PI token don bounce back about 10%, e dey trade near $0.40, support dey from cup-and-handle pattern wey fit target $0.50–$0.52. But PI token still over 80% down from February peak, and e don commot from top 50 for market cap. Centralized exchange PI reserve reach record 411 million, mostly for Gate.io and Bitget, wey tell say selling pressure dey increase. Plus, more than 167 million PI tokens go unlock for next 30 days, about 10 million go drop on August 16, fit cause more wahala for short-term price.
Bearish
As di new TransFi fiat on-ramp and DApp listing by Chainphon don boost demand for PI token and cause 10% price bounce back, record exchange reserves and over 167 million tokens wey dem plan to unlock within di next 30 days dey put serious kind selling pressure. Di soon release of about 10 million PI on August 16 fit cause more supply side sell-offs, wey fit limit short-term gains. Even though expanded on-ramp options and domain auction extensions fit support long-term adoption, di current oversupply risk and PI big discount from im February peak show say market outlook be bearish.