Pi Coin’s Ranking Sparks Debate Despite $15B Market Cap

Pi Coin has been successful the spotlight lately, but not for the reasons its supporters hoped. Even with a monolithic $15 cardinal marketplace cap, it’s inactive ranked astatine #201 connected CoinMarketCap (CMC). Meanwhile, Hedera, which has a smaller $9 cardinal marketplace cap, is ranked overmuch higher astatine #11. This has near galore successful the crypto abstraction wondering what’s going on.

The main crushed seems to beryllium however CMC handles rankings. Unlike different large cryptocurrencies, Pi Coin’s circulating proviso was initially self-reported. Since CMC usually waits for autarkic verification earlier updating rankings based connected marketplace cap, that could explicate wherefore Pi is inactive placed truthful low. 

Source: CoinMarketCap

Until recently, Pi Coin’s proviso presumption was marked arsenic “unverified,” but CMC has present updated it to “verified.” Even so, the ranking hasn’t changed, frustrating Pi supporters.

Crypto enthusiasts person taken to Reddit and different forums to dependable their concerns. Many supporters of Pi reason that, purely successful presumption of marketplace cap, the task deserves a spot wrong the apical 15. They judge that it would marque it acold much noticeable, bring much investors successful and possibly adjacent assistance rise the token’s price.

After Pi Network yet launched its long-awaited mainnet connected February 20, this quality picked up a batch of overseas attention. Following the launch, Pi Coin was listed connected large exchanges similar Bitget, OKX, and Gate.io. The excitement caused a quick 30% terms surge wrong an hour, but the rally was short-lived. By the adjacent day, the terms had dropped significantly, showing conscionable however unpredictable caller token listings tin be.

Now that CoinMarketCap has verified Pi Coin’s marketplace cap, the large question is, wherefore hasn’t the ranking been updated? Some judge CMC is playing it harmless due to the fact that of Pi’s self-reported supply, portion others reason there’s nary crushed for the delay. It is inactive the imagination of galore Pioneers to set the ranking truthful that it corresponds with the project’s existent worth.

At the moment, it is simply a waiting game. Will CoinMarketCap yet update Pi Coin’s ranking, oregon volition this contention continue? One happening is clear, supporters of Pi are not giving up present oregon ever. 

Also Read: Alert: Pi Network extends KYC and Mainnet Migration Deadline to March 14