Deposits on the Pi Coin Exchange Rise Dramatically Before Pi Day 2, What Will Happen Next?

Pi Coin, the native cryptocurrency of Pi Network, is facing significant selling pressure as transaction deposits increase ahead of the upcoming Pi Day 2 on June 28. This trend reflects a decline in confidence among network participants, with many expressing low expectations from the Pi Core team for this announcement. Over the past week, the price of Pi tokens has fallen by 12%, impacted by the overall market volatility. The supply of Pi Coin on exchanges reached 347.6 million. The circulating supply of Pi token on the cryptocurrency exchange has increased, reaching a peak of 346.7 million. This trend shows no signs of slowing down, as the number of Pi Coins on exchanges has been rising daily.

The deposit of Pi tokens on exchanges shows that investor confidence is declining ahead of the June 28 deadline for Pi Day 2. As of now, the Pi Coin price is trading down 3.08% to $0.55 with daily trading volume skyrocketing 9% to over $96 million. This shows that the selling pressure for this altcoin is at a high level at this stage. What can be expected from the Pi Network team at Pi Day 2? The Pi Network community is waiting for some important announcements from the Pi Core team, along with the mainnet launch. However, users have been disappointed due to past delays and some empty promises. Mr. Spock, a well-known name in the Pi community, stated: "We don't need empty promises. We don't need hype. No empty talk. Just clarity and credibility." He added that the core team of Pi should take the lead. In a recent statement, Mr. Spock highlighted five key areas where updates can significantly impact community trust and engagement: User statistics have been verified through the completion of KYC. The latest data on app downloads and user engagement. Specific announcements regarding actual partnerships. Detailed information on the growth and usage levels of the ecosystem. Total transparency regarding the circulation supply dynamics. Another community member, Dr. Altcoin, asked his followers on platform X. Most users indicated they had "no expectations." A user named Lil' Sniffy stated that the core team might create some hype to sell their Pi tokens. Dr. Altcoin stated that if the Pi Core team does not make any significant announcements, we might witness the price of Pi Network falling again to the lowest level in April of $0.40.