Crypto Alerts: Pi Coin Gives Up 11th Rank, Crashed 73% From Peak; Why Binance Is Not Listing PI?
Pi Coin Drops Below $1, Faces Binance Rejection
Pi Coin, the cryptocurrency of the Pi Network, has fallen sharply by 11%, dropping below the $1 mark on CoinMarketCap. It has also slipped from being the 11th largest cryptocurrency to the 24th position. Compared to major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin, Pi Coin has underperformed significantly.
At the time of writing, Pi Coin was trading at $0.8215, down 10.44%, with a market cap of $5.55 billion. It has lost over 72.5% of its value since reaching its all-time high of $2.98 on February 26.
Why is Pi Coin Falling?
One major reason for Pi Coin's decline is that Binance has reportedly rejected its listing. Here are the key reasons:
Closed Mainnet – Unlike fully decentralized cryptocurrencies, Pi Network's transactions happen in a restricted environment, making it unsuitable for Binance.
Regulatory Concerns – Pi Coin lacks clear regulatory approval, raising compliance issues.
Centralization Issues – Unlike Bitcoin and Ethereum, Pi Network is highly controlled by its developers.
Low Liquidity – Since Pi Coin is not fully tradable, it lacks the necessary liquidity for Binance listing.
What’s Next for Pi Coin?
Despite the recent drop, analysts believe Pi Coin still has potential. More exchanges may list it, and its ecosystem could expand. The recent auctioning of .pi domain names is a step toward a Web3 future, increasing Pi’s utility. Some believe this scarcity could boost its value over time.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your research before investing.