The IOU token of Pi Network plummeted by 42% to $72 in the past 24 hours. According to Byin Crypto, this significant price drop occurred just a day before the mainnet launch of Pi on February 2. It is worth noting that IOU tokens do not guarantee the final price of the digital currency after the official launch. Meanwhile, Binance exchange faced mixed reactions in its recent poll regarding the acceptance of this digital currency. While 85% of users supported Pi’s acceptance, Colin Wu, the founder of Wu Blockchain, believes this decision could jeopardize Binance’s credibility. Binance states that the final decision on listing Pi Network will be based on its internal evaluations. Investors are concerned about the future of this project due to rumors about similarities with pyramid schemes and doubts about the mainnet launch.
