PI, the local token of Pi Network, has recently experienced a major volatility. However, the more users and the market offers great support, Binance still chose not to list the PI Token. This development continues to attract attention in the crypto currency community. Currently, the Pi coin price is dominated by the decrease wave for the price.
Pi Coin price, decrease after record
PI Token began to be traded on February 20 when Pi Network launched the Open Network. This carried a large kilometer following a six -year process for the project. On the first process days, the price of PI suffered great fluctuations and rose to about $ 3 on February 27th. However, after that day, the price of PI fell steadily.
Over the last few hours, the PI decreased to $ 1.26 and a 12 %decrease on a daily basis. On a weekly basis, this decline reached 16 %. As of now, the price is traded at $ 1.41.
The decline in the market and the silence of Binance are effective
One of the most prominent reasons for the decline in the price of PI Token is the corrections in the general crypto currency market. Bitcoin (BTC) fell to $ 80,000 a few days ago, contributed to the decline in the market. Many large Altcoins are similarly traded in red.
However, Binance’s silence also stands out as another factor that negatively affects PI’s price performance. Last month, Binance organized a questionnaire to find out if its users wanted their PI Token to be traded on the platform. The results were announced on February 27, and 86 %of the respondents supported the trading on the PI Token on Binance. However, Binance did not make any explanation.
A listing could increase the liquidity and accessibility of PI Token and impose a upward pressure on the price. Some large crypto currency exchanges that are currently trading with PI include Bitget, OKX and Mexc. While uncertainty about the future of PI Token, users and investors are waiting for Binance to take a step in this regard.
