Why is Pi Coin Crashing Down Today?

Pi Coin, the cryptocurrency of the Pi Network, has seen a crisp diminution successful worth aft the motorboat of its highly anticipated Open mainnet.

On the debut of Pi coin has traded connected OKX for astir astir $1.50. However, the terms rapidly dropped by implicit 62%, falling to astir $0.6655.

Pi Coin Price, Source: CoinMarketCap

Why Is Pi Coin Crashing?

While the hype down pi coin was crazy, it has not been palmy successful making aboriginal buyers immoderate money. Since the motorboat each pi coin has seen is reddish candles. lets look astatine the imaginable reasons for that.

1. Early Miners Selling Their Holdings

One of the main reasons for the terms driblet is that aboriginal adopters who mined Pi for escaped oregon astatine a inexpensive outgo are present selling their holdings successful ample quantities. Since Pi was not tradable for years, galore miners person accumulated important amounts of it. The motorboat of the unfastened mainnet allowed them to yet currency out, expanding proviso and driving prices down.

2. Lack of Major Exchange Listings

Platforms like OKX and Bitget person listed the Pi Coin, but it is not yet disposable connected top-tier exchanges similar Binance oregon Coinbase. Pi Coin has not been listed connected Binance due to the fact that it has yet to conscionable the exchange’s listing criteria.

This limits its visibility, reduces liquidity, and discourages caller investors from entering the market. Without beardown speech support, Pi struggles to pull large-scale trading activity.

3. Overhyped Pre-Market IOU Prices

Before the unfastened mainnet launch, Pi IOUs (futures contracts connected Pi Coin) were trading astatine highly inflated prices—some reaching $200 connected BitMart. Many investors expected the existent marketplace terms to beryllium similar, starring to unrealistic expectations. However, erstwhile existent trading began, the terms rapidly adjusted to much sustainable levels, disappointing investors who had bought successful astatine higher prices.

4. Limited Real-World Use Cases

Pi Network has a ample idiosyncratic base, nevertheless the ecosystem is inactive successful its aboriginal phases. There are fewer decentralized applications (dApps) built connected Pi, and it has not yet established beardown usage cases beyond peer-to-peer transactions.  Without large uptake successful payments, gaming, oregon DeFi, Pi request remains low.

What’s Next for Pi Coin?

Demand whitethorn emergence if Pi Network gets large speech listings, grows its ecosystem, and increases utility. However, continuing sell-offs by aboriginal miners, on with a deficiency of robust demand, whitethorn thrust prices overmuch lower. To foretell aboriginal performance, investors should show trends successful speech listings and task collaborations.

Also Read: Bitget and OKX users Unable to retreat Pi coin for now