- Pi Network secures backing from three top Silicon Valley investors.
- Institutional support boosts Pi Network’s credibility despite market volatility.
- RSI suggests oversold conditions as investors bet on Pi.
According to Dr Altcoin, Pi Network has gained institutional support from three prominent Silicon Valley venture capital firms. The relocation indicates the project’s growing confidence, which has increased its visibility in the technology and financial world.
The companies include 137 Ventures, Designer Fund, and Ulu Ventures. Both have a long track record of investing in companies that have become world leaders, and thus, Pi Network is one of the most promising ventures.
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Leading Venture Firms Extend Support
137 Ventures has built a record of 53 portfolio companies with 20 unicorn exits, including SpaceX, Uber, Airbnb, and Spotify. The investment depicts belief in the ability of Pi Network to scale.
Designer Fund, an investment firm that has funded companies focused on design, such as Stripe, Phantom, and Gusto, introduces the elements of usability and innovation. This makes Pi Network more credible to design-oriented investors.
Ulu Ventures is the first Latina-led venture fund in Silicon Valley. It has assisted 213 companies, including six unicorns and exits such as SoFi and Palantir. Their participation shows that they believe Pi Network can maintain sustained growth.
Market Performance Reflects Investor Interest
Despite institutional backing, Pi Network’s token has faced volatility in recent sessions. At the time of analysis, Pi was selling at approximately 0.3529 USDT on OKX.
The daily chart indicates that the price moved towards the lower Bollinger Band. The resistance level is 0.3745, and the support level is 0.3287. In the meantime, the Relative Strength Index (RSI) is at 35.87, which means that the momentum is weak and implies oversold conditions.
The venture of 137 Ventures, Designer Fund, and Ulu Ventures is an indication of the increasing confidence that Silicon Valley has in Pi Network. While market data shows short-term pressure with prices consolidating near lower support levels, institutional support provides a strong foundation for its long-term prospects.
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