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Crisis’s of pi network – Pi Network Crashes to $0.90 – Everything You Need To Know
It’s been a rough few weeks for Pi Network. The coin that promised to revolutionize crypto by making mining as easy as tapping your phone screen is now facing its biggest crisis yet. The price is falling fast, angry users are flooding social media, and accusations of fraud are getting louder.
Let’s start with the obvious: Pi’s price has collapsed. After reaching an all-time high of $2.99 in late February, Pi Coin has lost over 60% of its value in less than a month. As of the writing of this article, it’s hovering near $0.90.
Trading volume dropped, investor interest faded, and the sentiment around the coin took a nosedive. Even a slight rebound couldn’t hold up, mainly because the volume behind it wasn’t strong enough. Within a week, Pi fell from the 11th to the 23rd spot by market cap.
Binance Listing Still Not Announced
One of the biggest frustrations from Pi supporters has been the ongoing drama with Binance
Why? Because Pi runs on its own blockchain, and Binance’s rules require projects to use their BNB Smart Chain. Many in the Pi community felt misled. They thought the poll meant a real chance at the listing, and the rejection felt like a slap in the face.
While Binance had previously gauged community interest in listing Pi Coin, its absence from this inaugural campaign has sparked backlash, with critics pointing out the dominance of memecoins in the selection process.Some Pi supporters responded by spamming Binance with negative reviews. Others claimed Binance was prioritizing meme tokens over “real” projects. But this strategy may have backfired. Binance has clear rules against pressure tactics, warning:
He didn’t hold back. According to him, Pi is centralized, unscalable, and offers nothing new. He even compared its mining system to a Ponzi scheme – where early adopters benefit while later users get locked into inflated promises. Bons also accused Pi of copying tech from Stellar and failing to be transparent about insider token allocations. He believes a large chunk of Pi’s supply – up to 20% – may be controlled by a small group of insiders.
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