Discover the reasons behind the 50% decline in PI token price and the impact of market corrections and Binance's stance on accepting the token.
PI, a native token of the PI Network launched on February 20th, has experienced a significant drop of over 50% after reaching an all-time high of nearly $3 on February 27th. According to Coingecko data, the PI price dropped to a low of $1.26 and is currently trading at $1.41, indicating a daily decrease of 12% and a weekly decrease of 16%. Factors contributing to this decline include overall cryptocurrency market correction and Binance’s inaction in accepting this token despite a positive community vote. Binance’s vote on February 27th concluded with 86% positive votes, but the exchange has yet to take action. Currently, reputable exchanges like Bitget, OKX, and MEXC have enabled trading of PI.
