Pi Coin, once a rising star in the crypto space, has faced significant setbacks recently, with its price plummeting nearly 80% from its peak of $3. This drop has raised concerns about the project’s legitimacy, liquidity, and exchange support.
The suspension of Pi trading on BitMart a month ago, due to pending KYB (Know Your Business) approval for 1:1 Pi swaps, has particularly hindered its accessibility.
Pi Coin resumes trading on BitMart. Crypto expert Dr. Altcoin shared that this move could help the Pi Coin price recover and potentially reach the $1 mark. Additionally, an official KYB approval for BitMart might be on the horizon, which could further bolster investor confidence in Pi’s future.
Banxa, a major fiat on-ramp provider, recently suspended Pi Coin transactions, citing pending KYB approval. This move has reduced liquidity and created additional hurdles for users looking to buy Pi Coin with fiat.
Dr. Altcoin noted that despite this setback, Banxa had previously purchased millions of Pi at a low price and could return stronger once the approval is granted. This potential rebound could also coincide with a price surge, raising optimism among Pi investors.
While Pi Network has garnered attention, its absence from major exchanges such as Binance, Coinbase, and Kraken has significantly limited its exposure and demand.
The listing speculations are growing, with the Pi logo recently appearing in a post on HTX’s platform, fueling rumors of a potential listing.
These moves, though promising, aren’t enough to fully lift the project’s visibility and trading volume on the global stage.
Binance has not officially confirmed a Pi Network listing yet, but strong community support in the recent Binance vote has increased the chances.
If the bullish sentiment sustains, the PI value could reach as high as $2.1007 this year.
Pi Coin is listed on 12 exchanges, including OKX, Bitget, MEXC, Gate.io, HTX, CoinEx, LBank, DigiFinex, CoinW, GCB Exchange, and Pionex.
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