Pi Network Token Struggles: Will Binance Rescue the Token?
The Pi Network native token was released on February 20, over six years after the project’s inception. During the first few days of trading, the asset saw significant gains, reaching nearly $3 on February 27. But since then, PI has been falling significantly. According to CoinMarketCap data, it hit a local low of $1.52 on March 2 and is presently trading at about $1.73.
The recent underwhelming performance of the asset may be attributed in part to Binance‘s intervention—or, more specifically, its inaction. The largest cryptocurrency exchange polled its members in February to see if they wanted to see PI made tradeable. With more than 86 percent of voters selecting “yes,” the results were formally announced on February 27. PI is not yet accessible on the platform, and Binance has not commented on the issue despite the tremendous support. In addition to improving the token’s accessibility and liquidity, a possible listing might push its value higher.
Is PI Coin Poised for a Major Rally? Breaking the $1.85 Mark Could Spark a Surge
Despite the recent decline in price, a lot of industry players are still hopeful that the coin’s value will soon reach remarkable heights. A breakout above $1.85 can lead to a price rise above $4, according to the X user GEM HUNTER.
A surge to $3.14 and even $314.159, which are numbers symbolically associated with π (Pi) = 3.14159, was anticipated by certain community members prior to that. However, it’s important to realize that in order to reach the second objective, PI‘s market value would need to surpass $2 trillion, assuming that there are 6.8 billion tokens in circulation, according to CoinMarketCap. But given that the current market value of all cryptocurrencies is approximately $3.15 trillion, this estimate is incredibly implausible.
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