{"id":52591,"date":"2025-03-18T08:02:20","date_gmt":"2025-03-18T08:02:20","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=52591"},"modified":"2025-03-18T08:02:20","modified_gmt":"2025-03-18T08:02:20","slug":"why-is-the-pi-network-pi-price-down-today-2","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=52591","title":{"rendered":"Why Is the Pi Network (PI) Price Down Today?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

The end of the KYC Grace Period may have triggered panic selling, contributing to PI\u2019s ongoing decline, now trading at $1.17.<\/p>\n

Despite 86% voting support, Binance has yet to list PI, while Bybit\u2019s CEO called Pi Network a scam.<\/p>\n

<\/a><\/span><\/h2>\n

PI Continues Its Freefall<\/h2>\n

Pi Network\u2019s native token began trading less than a month ago, and since then, it has experienced massive turbulence. <\/span><\/p>\n

On February 20 (the day when the project finally <\/span>launched<\/span><\/a> its Open Network), the price climbed above $1.80. A day later, though, PI briefly tanked below $0.65 before starting a <\/span>major<\/span> rally <\/span>that <\/span>took<\/span><\/a> it to<\/span> an all-time high of almost $3 at the end of last month.<\/span><\/p>\n

The peak was short-lived, and the valuation has been on a downtrend ever since. Currently, PI trades at around $1.17 (per CoinGecko\u2019s data), representing a 16% decline on a 24-hour scale.\u00a0<\/span><\/p>\n

<\/a>PI Price, Source: CoinGecko<\/p>\n

One potential factor negatively affecting the asset\u2019s performance could be the end of the KYC verification process. <\/span>The Grace Period (as it is known) ran until March 14<\/span>, and this<\/span> time, the team did not extend it.<\/span><\/p>\n

Previously, the developers behind the project <\/span>warned<\/span><\/a> users to complete the necessary steps before that date to avoid forfeiting most of their mined PI tokens. <\/span>This<\/span> could have caused uncertainty and panic across the community and <\/span>might have<\/span> triggered downward pressure on the price.\u00a0<\/span><\/p>\n

Another element worth mentioning is Binance\u2019s intervention, or\u00a0<\/span>more precisely,<\/span> its lack of action.<\/span> In February, the world\u2019s biggest exchange <\/span>was rumored<\/span> to follow the example of OKX, Bitget, and MEXC, which were the first to embrace PI.<\/span><\/p>\n

Binance even\u00a0<\/span>held a community vote<\/span><\/a> to determine whether its users would want to see the token available for trading. While over 86% of the voters were supportive, the company has yet to respect their <\/span>wish<\/span>.<\/span><\/p>\n

Meanwhile, other leading cryptocurrency exchanges, including Coinbase and Kraken, have also preferred to stay aside from Pi Network\u2019s native token. Others, like Bybit, have specifically said they will not list the asset, while its CEO Ben Zhou <\/span>labeled<\/span><\/a> the project a scam.\u00a0<\/span><\/p>\n

PI Price Predictions<\/span><\/h2>\n

Contrary to the falling price, PI bulls remain optimistic that a resurgence could be on the horizon. The X user Coinvo <\/span>suggested<\/span><\/a> that the current bearish period might soon <\/span>be replaced<\/span> by a rally that may push the price to a new ATH.\u00a0<\/span><\/p>\n

Another market observer <\/span>assumed<\/span><\/a> that PI<\/span> is headed<\/span> towards $1, \u201cand once it touches, the pump begins.\u201d For their part, the industry participant using the X moniker Pi Network News Global <\/span>assured<\/span><\/a> that if the price drops to $0.60, they will \u201cbuy more and more and more.\u201d<\/span><\/p>\n

The post Why Is the Pi Network (PI) Price Down Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR The end of the KYC Grace Period may have triggered panic selling, contributing to PI\u2019s ongoing decline, now trading at $1.17. Despite 86% voting support, Binance has yet to list PI, while Bybit\u2019s CEO called Pi Network a scam. PI Continues Its Freefall Pi Network\u2019s native token began trading less than a month ago, […]<\/p>\n","protected":false},"author":0,"featured_media":50866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-52591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52591"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=52591"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/52591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/50866"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}