Top Crypto Alert: Pi Coin Crashed 45% In 4 Days; What Is The Reason & Is Binance Debut Date Near?

Cryptocurrency News: Pi Coin of PI Network, extended its losing streak and crashed by nearly 45% as of Sunday, March 2. One of the reasons attributed for sharp selling in Pi Coin is the broader selloffs in cryptocurrency market with dominator Bitcoin correcting significantly. The key focus area in Pi Coin is its expectation of listing on Binance. Many media reports are claiming that Pi Coin could list in mid-March as Pi Network has extended its KYC norms for investors till March 14. No official statement on the listing has been made, however, the Binance Survey showed that 86% of investors are looking for a debut.

Pi Coin:

At the time of writing, Pi Coin traded at $1.67, down by 25.3% in the last 24 hours. Its market cap has dropped by 24.4% to $11.34 billion currently. While volumes were at $1.23 billion, down by over 19% in the last 24 hours.

Pi Coin has been under pressure after it touched an all-time high of $2.98 on February 26. Since then, the cryptocurrency nosedived by nearly 45%. However, Pi Coin is still higher by 172% from its all-time low of $0.6152 which was recorded on February 20, the day it was launched.

Why Pi Coin has crashed?

Explaining the performance in detail, analyst Kim H Wong through his X handler said, "Pi coin dropped from $3 to $1.93 (near support level) due to weakness on Bitcoin and the overall crypto market."

Bitcoin, the largest cryptocurrency, which is currently trading at around $85,900 levels, has plummeted by nearly 11% in 7 days. Ethereum, the second largest cryptocurrency, has plunged by over 21% and is currently trading at around $2,215 levels. Other cryptocurrencies like XRP are down by 12.5%, while BNB plunged by 8.4%, Solana crashed by nearly 17%, and even Elon Musk-backed Dogecoin struggled with a decline of over 16.5% over the past 7 days.