Pi Coin Price Today: Pi Network (PI) Price Falls Nearly 25% to Below $1

Pi Coin, the native cryptocurrency of Pi Network, fell nearly 25% to below $1.0 in the last 24 hours.

Pi Coin, the native cryptocurrency of Pi Network, fell nearly 25% to below $1.0 in the last 24 hours. At the time of writing, the Pi network was trading at $0.8671, falling 26% over the day.

Major factors like exclusion from Binance's 'Voting' list, and fading out of the initial excitement surrounding the mainnet launch fueled the massive bearish trend in the cryptocurrency. Pi cryptocurrency extended its weekly losses by more than 45%.

During the 24-hour time frame, the Pi Network coin traded between $0.$0.8846 to $1.18, meaning it touched 24 24-hour low at $0.867 and a high at $1.18. Meanwhile, it fell over 70% from its all-time high value.

This sudden drop raises serious questions about the ongoing volatility in the crypto market and what it means for the future value of Pi Coin, especially amid broader market challenges affecting digital assets.

Market Forces Behind the Decline

The decline in Pi Coin’s price comes in an already sluggish cryptocurrency market, with the global crypto market cap at around $2.76 trillion, down by around 1.69%. At the time of writing, Pi is trading at US$0.8876 with a 24-hour volume of around $51.28 million, which represents a significant drop, leaving Pi down 47.11% from its 7-day high of $1.68. Unfortunately, the market decline was led by Pi, followed by other cryptocurrencies like PancakeSwap (-6.79%) and Helium (-5.68%).

Pi Network will not be listed on Binance

The Binance exchange, the world’s largest digital currency trading platform, is not listing the Pi Network among the first projects included in its “Vote to List” initiative. The initial campaign, which explicitly boycotts the Pi Network, includes nine projects with growing community hype. According to the update, Binance users will now decide which assets make the full list on the exchange.

Earlier this month, the top trading platform unveiled a decentralized listing initiative. This initiative gives the community the right to decide which tokens can be listed on the platform.

For clarity, Binance said that the Vote to List campaign is only open to projects hosted on the BNB Smart Chain network. This automatically disqualified the Pi Network, which runs on its blockchain.

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