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Pi Network News: Banxa’s $19M Liquidity Boost Fails to Lift Price, What’s Next?
The recent surge in the price of Pi Coin, from $0.49 on June 22 to $0.64 on June 26, has been a brief one, as the coin has since slipped over 2% and is currently trading at around $0.53. This sudden drop comes despite Banxa’s massive liquidity boost of $19 million, aimed at increasing the availability of Pi Coin for users.
The crypto market remains volatile, with investors hesitant to dive into altcoins unless there’s clear momentum. The AI-powered features introduced by the platform have also failed to generate excitement, as investors want tangible benefits from these technologies before committing to buying the coin. These mixed opinions within the Pi community are fueling uncertainty and ultimately impacting the price.
The recent partnership with Banxa, a fiat-to-crypto on-ramp service, has brought in over 30.5 million Pi Coins (valued at around $19 million) to enhance liquidity for the network. However, this boost failed to generate sustained momentum or lift the price of Pi Coin.
In other news, Onramper, another partner of Pi Network, acts as an aggregator, providing users with multiple on-ramp options to purchase Pi Coin through various providers, including Banxa itself.
Source: coinpedia.org
