Major Announcement from Pi Network Revealed – Hint: It's Not a Listing on Binance

On May 8, Channel X officially behind the project with more than 4.3 million followers announced a major announcement about the ecosystem will take place on May 14. Although no further details were provided, the community has begun to speculate with a few options, but the possibility of being listed on Binance has been brought to the forefront as some members claim that the exchange has been testing the sending and withdrawing of PI in the background. However, such a listing on the world's largest cryptocurrency exchange will have to wait, as the actual statement revealed yesterday has nothing to do with any trading platform. The team announced the launch of Pi Network Ventures, a $100 million initiative in PI and USD that will invest in "startups and businesses that promote the utility and real adoption of PI."

The comments below the post have been divided as usual, with some praising it as a "big step forward" for the entire PI ecosystem, while others criticize that this is just "another announcement of what they intend to do, not what they have done or are doing." PI Dumps The hype following the first post from last week has resulted in a dramatic price increase for the project's native token. It nearly tripled in less than a week, rising from $0.6 to over $1.7. However, the price surge fueled by this hype abruptly halted at that point and has dropped below $0.9 to date. It seems that this is a classic 'buy the rumor, sell the news' event, where the asset price skyrockets before the actual announcement but then declines afterward. PI has dropped 28% in the last 24 hours and has lost 50% of its value since the local peak recorded just a few days ago.