The native token of Pi Network (PI) has experienced significant fluctuations since its launch less than a month ago. The price surged to over $1.80 on February 20, coinciding with the project’s network launch, but temporarily dropped to below $0.65 the next day. Despite that, Pi Network initiated a new upward trend, reaching a near-historic high of $3 by the end of the month. However, this price ceiling was short-lived, and since then, Pi Network has been on a downward trajectory. Currently, the token price has dropped by 14.5% in the past 24 hours to $1.18. One possible reason for the recent decline is the end of the Know Your Customer (KYC) verification process, which was not extended beyond the March 14 deadline. Developers had previously warned that failure to complete this process would result in users losing their mined tokens, potentially inducing fear and selling pressure. Binance’s inaction may also have influenced the downward trend. In February, rumors circulated about the possibility of Pi being listed on Binance. The exchange even conducted a poll where 86% of participants voted positively for listing the token, but no action has been taken so far. Meanwhile, other major exchanges like Coinbase and Kraken have yet to embrace this token. Bybit officially announced that it would not list Pi Network, with its CEO Ben Zhou labeling the project as a scam. Despite the price drop, some investors remain hopeful about the future of Pi Network. A user on the social network X, named Coinvo, predicted that this downward trend will soon give way to a new rally. Another analyst believes that once the price hits $1, the next surge will begin. You can monitor the prices of all tokens and cryptocurrencies in real-time on the digital currency live price page.
