- Pi Token Holds Key Support After 6% Price Decline
- Banxa’s KYB Approval Enables Legal Fiat Purchases of Pi
- Token Unlocks Add Selling Pressure Amid Volatile Market
The Pi Network token price has experienced a substantial decrease, surpassing 6%, which caused it to fall beneath the significant $1 mark while reaching $0.5900. Early adopters expressed concern about the price decline since they considered $1 an important goal.
According to market forecasters, the token shows strong backing at $0.50 despite its recent temporary value decline. Analysts indicate the token briefly returned to the $0.60 area after its price decrease. After a decline in $0.50 price support, the token could start a brief rebound toward stronger resistance levels.
Pi Eyes Breakout as Resistance Levels Tighten
The token faces resistance between $0.80 and $1.55 while breaking past the $0.65 mark of control, which could open the door for a stronger rally. The token holds above the key $0.50 support. If this level holds firm, a short-term bounce targeting the $0.60 range is possible for the Pi price.
The high market volatility continues, yet trading volume shows growing market interest. However, increased trading volume during this time could signify intensified selling practices and should not be mistaken solely for renewed purchase behavior.
In addition, the current Relative Strength Index reads 41, placing the token at an oversold stage. Technical traders watch short-term price movements because the available technical reading shows potential signs of recovery.
New Fiat Entry Enabled Through KYB Authorization
The Know Your Business (KYB) approval issued to Banxa gave global support for Pi Network transactions. Banxa now has regulatory clearance, which allows it to support fiat transaction processing for the token network users in more than 100 countries worldwide. The new development creates easier access for non-crypto-native users who want to purchase the token. Banxa’s system enables users to buy tokens using their local currencies through a legal and compliant channel.
The project documentation states that all trading and listing rights belong to KYBendorsed platforms. However, users must finish KYC verification before performing peer-to-peer transactions through non-custodial wallets while following the network rules. The two-factor authorization system ensures both compliance standards and prevents illegal market activities. Community movements in regions with limited exchange access will gain the greatest advantage.
Furthermore, BitMart and HTX are seeking KYB authorization for their platforms. Banxa will receive support from these approved exchanges to expand legal Pi trading markets. Authorities have forecasted ten days until these approvals are granted. The initiative demonstrates an increasing awareness among institutions of the token Network. New KYB-compliant platforms starting operation could enhance market liquidity, leading to better user entry and exit conditions.
PI Token Unlocks Contribute to Sell-Side Pressure
Despite its new trading channels and regulatory accomplishments, the token unlock schedule causes constant pressure on Pi. In addition, On May 4th, network token distribution released 6,511 tokens, which held a market value of $3.84 million. More than $5.5 million worth of tokens became available the following day.
The released tokens from unlocks have improved the circulating supply, resulting in slight price drops. Market analysts track resistance levels as new price liquidity enters the market following recent operations.
