Pi Network's $100M Venture Initiative and Its Impact
Pi Network's Major Disclosure Unveiled – Hint: Not About Binance Exchange Listing
In a recent shakeup, the Pi Network, known for its divisive project, revealed an exciting new direction last week. They hinted at a big ecosystem announcement, sending the community into a frenzy with speculations ranging wildly. One popular theory centered around a potential Binance listing, fueled by claims of backend PI deposits and withdrawals experiments on Binance.
However, Binance enthusiasts were left disappointed as the announcement on May 14 unveiled Pi Network Ventures - a $100 million initiative combining PI and USD. This fund aims to support startups and businesses that foster the utility and real-world adoption of Pi. The posts announcing this endeavor were met with split opinions, with some hailing it as a massive boost for the Pi ecosystem, while others questioned its immediate impact[4][5].
From Hype to Dump
The pre-announcement hype witnessed a phenomenal surge in Pi Network's native token's price. It almost tripled within a week, climbing from $0.6 to over $1.7. However, the hype-driven rally swiftly came to a halt, plunging below $0.9 as of now. This is detected as a classic 'buy the rumor, sell the news' event, where the asset's price soars ahead of the announcement but slumps significantly after it[4][5]. Since the local peak, PI has dived by 28% in a day and lost 50% of its value.
Remember, kids! Buy the rumor, sell the news! 😎😎
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Sources:[1] Pi Network official announcement: https://twitter.com/PiNetwork/status/1522703285194335234[2] Pi Network Ventures official announcement: https://medium.com/pi-network-ventures/introducing-pi-network-ventures-5395cb9bb403[3] Pi Network Ventures initial details: https://medium.com/pi-network/introducing-pi-network-ventures-5395cb9bb403[4] Community reactions to Pi Network Ventures: https://twitter.com/PiFamNetwork/status/1522710793597953025[5] Commentary and analysis: https://www.binance.vision/news/pi-token-priced-slides-by-30-after-pi-network-ventures-announcement[6] Binance sign-up bonus offer: https://www.binance.com/en/register?ref=KENYANYA0LB6B[7] Bybit sign-up bonus offer: https://bybit.com/en-US/invite?bs=436841502820907711&sc=EN_US_REG_01
- The Pi Network's $100 million initiative, Pi Network Ventures, aims to foster the utility and real-world adoption of Pi by supporting startups and businesses in the crypto and finance technology sectors.
- The Pi Network's native token, PI, experienced a significant price surge in the days leading up to the Pi Network Ventures announcement, only to plummet afterwards, demonstrating the 'buy the rumor, sell the news' phenomenon.
- Binance and Bybit are offering exclusive welcome bonuses for new users, providing opportunities for crypto trading and investing.
