Pi Coin, a once-promising cryptocurrency, is currently facing a wave of bearish sentiment as it struggles to regain momentum in the market. After reaching highs close to $3, the price of Pi has dropped significantly to approximately $0.62, causing concerns among holders and potential investors.
One of the major setbacks for Pi Coin is the suspension of trading on BitMart, which has been ongoing for over a month. The exchange is reportedly waiting for KYB (Know Your Business) approval from the Pi Core Team to proceed with the promised 1:1 Pi swap. Despite several inquiries from the community, there has been no official timeline provided for the resumption of trading.
In addition to the BitMart suspension, Banxa, a popular crypto payment service provider, has also removed support for Pi Coin. This move has further added to the uncertainty surrounding the coin’s future, leaving many users unable to purchase Pi through the platform.
Despite these challenges, there is a glimmer of hope for Pi holders. Huobi Exchange, a top global exchange, has been teasing major developments related to Pi on social media. Their messages encourage users to hold onto their low-priced Pi, hinting at a possible upcoming announcement that could potentially boost the coin’s value.
Another potential catalyst for Pi Coin is the upcoming Consensus 2025 event, where Pi Network is a sponsor and the project’s founder, Nicolas Kokkalis, is scheduled to speak. This event could provide an opportunity for the team to share important updates and generate renewed interest in the project.
However, one key issue that continues to plague Pi Coin is the lack of listings on major exchanges like Binance, Coinbase, or Kraken. Without access to these platforms, Pi’s visibility and demand in the broader crypto market remain limited. Since its peak, Pi Coin has experienced a significant drop in value, sparking concerns about its long-term viability unless significant developments occur.
In conclusion, Pi Coin is currently facing a challenging period as it grapples with various obstacles in the market. While there are some potential positive developments on the horizon, such as the hints from Huobi Exchange and the upcoming Consensus 2025 event, the lack of major exchange listings continues to hinder the coin’s growth potential. Investors and holders will need to closely monitor the situation and stay informed about any new developments that could impact Pi Coin’s future.