TLDR
- Pi Coin price surged to its highest level this month, showing strong recovery potential.
- Valour PI ETP has struggled with low trading volumes and lack of investor interest.
- The Valour PI ETP launched in late August but has failed to gain significant market traction.
- Pi Coin’s recent price increase is supported by whale activity and market optimism.
- Pi Network has reduced its mining rewards, tightening supply and potentially stabilizing Pi Coin’s price.
Pi Coin (PI) has surged to its highest point this month, showing signs of strength despite the struggles of the Valour PI ETP. The ETP, launched on Sweden’s Spotlight Stock Market in late August, has seen minimal market activity and investor interest. While the ETP fails to gain momentum, Pi Coin’s recovery fuels hopes of a broader market rebound.
Valour PI ETP Faces Low Trading Volume
Launched with optimism in August, the Valour PI ETP was designed to track the price of Pi Coin on traditional financial markets. However, the product has failed to attract significant investor interest, leading to minimal market activity. Trading volumes have been low, with some days seeing just one trade, signaling a lack of enthusiasm in the European market.
The ETP’s underperformance contrasts with the potential of Pi Coin itself. Despite the lack of interest in the ETP, Pi Coin continues to show strength, with recent price increases. Analysts had hoped that the ETP would offer exposure to Pi Coin for traditional investors, but the lack of momentum may suggest broader market skepticism.
Valour PI ETP has a 1.9% management fee and trades in Swedish kronor, which could also contribute to its lack of traction. As trading activity declines, it remains uncertain whether the product can attract the investor base necessary for sustained growth.
Pi Coin Price Shows Recovery Signs
In contrast to the slow uptake of the Valour PI ETP, Pi Coin has demonstrated a recovery in its price. The coin reached its highest value this month, touching $0.36 during early Asian trading hours. As Pi Coin crosses key resistance levels, the coin’s upward momentum is becoming more evident.
Recent analysis points to a potential move toward $0.3587 if Pi Coin maintains its current momentum. However, a drop below $0.3391 could lead to a retest of its all-time low at $0.3220. Despite the uncertainty, the recent surge in price signals optimism for Pi Coin’s future performance.
Pi Coin’s recovery aligns with positive market sentiment. A broader altcoin season combined with optimism surrounding Pi Network’s co-founder’s upcoming appearance at Token2049 has fueled this surge. Although it remains unclear if the momentum will continue, the current uptick offers hope for future gains.
Whale Activity and Strategic Adjustments Support Pi Coin’s Recovery
Pi Coin’s price surge is supported by increased whale activity and Pi Network’s strategic moves. Recently, a whale wallet purchased 441,549 PI from the OKX exchange, boosting its holdings to a total of 373 million PI. Such large-scale purchases are often a signal of confidence in a token’s long-term value.
Pi Network has also implemented a strategic reduction in mining rewards, which could increase token scarcity. The September mining rate was cut by 1.23%, making it harder to mine Pi Coin. This move is expected to tighten supply and stabilize the token’s price, supporting its recent recovery.
