The price of the native token of Pi Network (PI) has plunged by around 17.5% over the last 24-hour period to now stand at $1.11, down from $1.35 earlier in the day and from an all-time high near the $3 level.
According to data from CoinMarketCap, the cryptocurrency’s plunge was accompanied by a nearly 50% jump in its trading volume. At the same time, its market capitalization has since dropped to $7.76 billion, making it the 17th-largest crypto by market cap, down from the 11th position.
The token’s price drop comes amid a wider, yet less accentuated, cryptocurrency market correction. Bitcoin is down around 0.6% in the last 24-hour period, while Ethereum’s ether lost roughly 0.7% of its value. XRP, SOL, and ADA are all down between 2% and 3%.
The Pi Network’s token is likely plunging as it corrects from a surge over hype suggesting the cryptocurrency was going to be listed on major cryptocurrency exchanges, including Coinbase and Binance.
Hype surrounding a potential Coinbase listing surged after members of the exchange celebrated Pi Day, March 14, on social media. Some within the Pi ecosystem took it as a hint that the exchange would list the token rather than just celebrating the mathematical constant.
Meanwhile, Binance held a community vote on whether or not it should list PI, yet despite overwhelming support for a listing it doesn’t appear to have materialized yet. PI’s biggest markets currently include OKX, MEXC, Bitget, and Gate.io.
Despite the increased market volatility, Ripplecoin Mining uses AI intelligent computing power system and flexible…
Los Angeles, California, 25th July 2025, ZEX PR WIRE, XRP is rapidly evolving from a payment-focused token…
Los Angeles, California, 25th July 2025, ZEX PR WIRE, As XRP continues to lead the crypto market,…
SHHEIKH, the world’s first AI-powered real estate tokenization ecosystem, has stunned early investors with a…
Ajman, UAE, 24th July 2025, His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince…
Dubai, UAE, 24th July 2025, ZEX PR WIRE, Most websites talking about crypto have one…