Why is $PI the worst thing on my screen today, down about 6% while half the market is barely moving?
I dug into it this afternoon and the honest answer is pretty simple: there's still way more Pi getting unlocked and hitting the market than there are people who actually want to buy it. That's a rough spot for any coin. You can have the biggest crowd in crypto — and Pi really does, after all those years of people tapping a phone app — but a crowd that mostly wants to sell isn't the same thing as real demand.
What I'm watching next is whether the next big batch of unlocked coins lands on buyers, or just piles more sellers onto a tape that's already heavy.
#PiNetwork #PI #TokenUnlocks
I dug into it this afternoon and the honest answer is pretty simple: there's still way more Pi getting unlocked and hitting the market than there are people who actually want to buy it. That's a rough spot for any coin. You can have the biggest crowd in crypto — and Pi really does, after all those years of people tapping a phone app — but a crowd that mostly wants to sell isn't the same thing as real demand.
What I'm watching next is whether the next big batch of unlocked coins lands on buyers, or just piles more sellers onto a tape that's already heavy.
#PiNetwork #PI #TokenUnlocks