Pi Network (PI) Important Signal: Pi coin exchange reserves have reached an all-time high, surging to over 370 million coins.

According to BeInCrypto’s observations, in the past five months, the holdings of the Pi Network (PI) tokens on Centralized Exchanges have continued to rise, increasing from 263 million in March to over 370 million currently, an increase of over 40%.

In May of this year, Pi Network founder Nicolas Kokkalis made a rare public appearance. His presence sparked excitement in the market and led to a significant accumulation of Pi, resulting in a sharp decline in the number of Pi on the exchange.

In addition, data from PiScan shows that 232.9 million PI tokens will be unlocked in July, which further puts pressure on the sentiment of pioneer investors.

BeInCrypto’s recent analysis indicates that Pi may continue to fall to a new low of $0.40.

The recent update from the Pi Core Team (PCT) shows significant development progress. However, in the current market environment, these efforts seem to be insufficient.

Today (10) in the Asian early session, Pi coin followed the market’s rising trend, currently reported at 0.4683 USD, but the bears still hold the steering wheel.

(Source: Gate)