Strong criticism and absence on Binance crash the price of PI.🫶🚀💪💯🪙💥
The recent negative performance of Pi Network has multiple causes. It all started after a strong valuation rally. Between February 20 and February 26, the price of the cryptocurrency rose by more than 2,500%, reaching an all-time high of $2.99, according to CoinGecko.
This expressive growth attracted investors and speculators. However, a correction was expected, as the previous movement was considered unsustainable.
Moreover, another factor that frustrated investors was the absence of PI on Binance. The cryptocurrency was included in the Vote to List platform, where users vote for new assets to be listed.
With 86% of the votes in favor, a quick listing was expected. However, so far, Binance has not included PI on its platform. This generated uncertainty and contributed to the price drop. Additionally, the project conducted a large token unlock last week, which increased selling pressure in the market.
