Recent Pi Network (PI) Developments, Important Scam Warnings, and More: Bits Recap May 16
The post Recent Pi Network (PI) Developments, Important Scam Warnings, and More: Bits Recap May 16 appeared on BitcoinEthereumNews.com. TL;DR PI surged to a two-month high after a teaser from the team behind the project, but dropped sharply to around $0.80 following the reveal of the actual news. Binance sparked speculation about a possible PI listing with a cryptic π-themed post, triggering excitement across the community. Shibarium’s marketing strategist, LUCIE, shared a personal story of being scammed, urging the Shiba Inu community to stay vigilant as fraudsters continue exploiting unsuspecting crypto users. What’s New Around Pi Network? The controversial crypto project made the headlines on May 8, teasing a mysterious announcement that would be released in the upcoming days. The community took this as a positive sign, with some expecting major news, such as PI’s listing on the world’s largest cryptocurrency exchange, Binance. The excitement also seems to have triggered a price rally for Pi Network’s native token, which surged by almost 200% at one point and jumped above $1.70 (the highest point observed in the past two months). On May 14, the team behind the project lifted the curtain, unveiling the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that “advance the utility and real-adoption of PI.” The price of the underlying token dipped substantially following the announcement, reaching a local bottom of nearly $0.80. This appears to be a classic “buy the rumor, sell the news” case where the asset’s valuation climbs in anticipation of a certain disclosure, only to decline once the news becomes public. Meanwhile, Binance posted a cryptic message on its official X account that many community members view as a potential PI listing coming soon. The company presented its logo with mathematical symbols, one of which was the constant π. Many users pointed out the connection with the crypto project, whose native token has…
The post Recent Pi Network (PI) Developments, Important Scam Warnings, and More: Bits Recap May 16 appeared on BitcoinEthereumNews.com.
TL;DR PI surged to a two-month high after a teaser from the team behind the project, but dropped sharply to around $0.80 following the reveal of the actual news. Binance sparked speculation about a possible PI listing with a cryptic π-themed post, triggering excitement across the community. Shibarium’s marketing strategist, LUCIE, shared a personal story of being scammed, urging the Shiba Inu community to stay vigilant as fraudsters continue exploiting unsuspecting crypto users. What’s New Around Pi Network? The controversial crypto project made the headlines on May 8, teasing a mysterious announcement that would be released in the upcoming days. The community took this as a positive sign, with some expecting major news, such as PI’s listing on the world’s largest cryptocurrency exchange, Binance. The excitement also seems to have triggered a price rally for Pi Network’s native token, which surged by almost 200% at one point and jumped above $1.70 (the highest point observed in the past two months). On May 14, the team behind the project lifted the curtain, unveiling the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that “advance the utility and real-adoption of PI.” The price of the underlying token dipped substantially following the announcement, reaching a local bottom of nearly $0.80. This appears to be a classic “buy the rumor, sell the news” case where the asset’s valuation climbs in anticipation of a certain disclosure, only to decline once the news becomes public. Meanwhile, Binance posted a cryptic message on its official X account that many community members view as a potential PI listing coming soon. The company presented its logo with mathematical symbols, one of which was the constant π. Many users pointed out the connection with the crypto project, whose native token has…
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