Pi Network (PI) Price Has Dropped 61% in a Month Despite Telegram Integration

Pi Network has been struggling, and nothing seems to be working in its favor. From KYC controversies to network issues and lackluster updates

Pi Network, the blockchain project that allows users to mine cryptocurrency on their mobile devices, has been struggling lately. After reaching a peak of $2.34 in mid-March, the token’s price has now dropped by over 61%, falling to $0.71 at the time of writing.

Several factors have contributed to Pi’s struggles, including:

* KYC controversies: Pi Network has been accused of scamming users with its Know Your Customer (KYC) procedures. To withdraw their cryptocurrency, users must complete a lengthy verification process, providing personal documents such as their passport or driver’s license. However, some users have reported that even after submitting all the required documents, they are still unable to withdraw their tokens.

* Network issues: Pi Network has also faced technical difficulties, such as slow transaction speeds and frequent downtime. These issues have frustrated users and led to further losses for investors.

* Lackluster updates: The project has not made any major announcements or updates recently, which has dampened investor interest. Many had hoped that a listing on Binance would drive the price higher, but so far, that expectation has not materialized.

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