Pi Coin is currently facing growing bearish sentiment, as it struggles to regain momentum after early excitement. Once trading close to $3, Pi has now dropped significantly, sitting at approximately $0.62. The lack of price catalysts and exchange support is raising concerns among holders and potential investors.
One major development is BitMart’s suspension of Pi trading, which has now lasted over a month. According to several Pi community members, the exchange is still awaiting KYB (Know Your Business) approval from the Pi Core Team to proceed with the promised 1:1 Pi swap.
Dr. Altcoin, a prominent crypto commentator, asked on X (formerly Twitter):
“Has anyone heard from BitMart about Pi withdrawals? It’s been a month since Pi trading was suspended, awaiting the 1:1 Pi swap.”
So far, no official timeline has been provided.
On April 25th, BitMart resumed Pi trading after a month-long suspension due to pending KYB approval, hinting at an official approval announcement soon.
Adding to the uncertainty, Banxa, a well-known crypto payment service provider, has also removed support for Pi Coin. Users can no longer buy Pi through the platform. The reason behind this move remains unclear, further clouding the coin’s immediate future.
Despite the current setbacks, there may still be some hope for Pi holders. In recent weeks, Huobi Exchange, one of the top global exchanges, has been posting teasers hinting at major developments related to Pi.
Their social media messages encourage users to “hold on to their low-priced Pi,” suggesting a possible upcoming announcement.
Another major event on the horizon is Consensus 2025, one of the largest annual gatherings in the crypto industry. Pi Network is a sponsor of the event, and Nicolas Kokkalis, the project’s founder, is scheduled to speak. This could be a key opportunity for the team to share major updates and reignite interest.
Despite early hype, Pi Network remains unlisted on top-tier exchanges like Binance, Coinbase, or Kraken. This continues to limit both its visibility and demand in the wider crypto market. Since its peak, Pi Coin has dropped by nearly 80%, raising serious concerns about its long-term prospects unless major developments occur.
BitMart halted Pi trading due to pending KYB approval from the Pi Core Team for a promised 1:1 Pi swap.
Currently, there is no clarity on the launch of Pi coin on Binance.
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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