Pi Network Value Drops has maintained close to the flatline today at $1.4 despite a big selloff in the larger crypto market. Given the forthcoming token unlocks, which could cause a Pi Coin crash ahead, many investors are still on the sidelines though. Still, experts stayed hopeful, particularly given great expectation around a possible Binance listing.
Pi Network Drops to $1.38 Amid Market
Pi Network update Crypto value today was down 0.15% and traded hands at $1.38; its one-day trading volume dropped 46% to $527.7 million. Especially, the cryptocurrency has reached daily highs and lows of $1.45 and $1.30 respectively. The currency has dropped around 24% in the past seven days and about 19% since it debuted on February 20.
Meanwhile, it seems that crypto has bucked the general market trend since all the other top cryptocurrencies show greater declines. For background, recent studies suggest a possible BTC drop to $70K ahead, so Bitcoin’s price has lost over 2.3%. ETH’s price fell more than 8% today concurrently, suggesting investors’ declining risk appetite.
Pi Network Growth and Unlock Warnings
Given more people interacting with Pi Network, it has been the buzz of the town recently. Moreover, a well-known real-estate company Zito Realty LLC has begun to accept Pi as a payment method, therefore strengthening market confidence. Still, market players avoid the sidelines even with these encouraging trends since major token unlocks loom. PiScan data indicates that the average daily token unlocks now at 9.05 billion Pi, valued $18.11 million daily.
On March 17 and 21, though, the unlocks will raise to 23.1 million coins ($46.27 million) and 23.4 million Pi ($46.88 million respectively). Furthermore unlocked during the following 30 days will be 271.68 million PI, valued $543.36 million.This flood of fresh tokens can greatly raise selling pressure, hence lowering the price below $1. Investors wary of ahead of the unlock event are traders. Should the price of the token fail to resist the selling pressure, a drop below the psychological $1 barrier could result.
Pi Coin Binance Listing & Pi Day Hype
The market players keep close eye on the token despite temporary problems. For background, market confidence has been stoked by the high speculations around possible Binance listing. Top exchanges like Binance list practically all the top 10 cryptocurrencies.
Ranked 11th in market capitalization, Pi Coin is expected to be listed soon by Binance given its explosive acceptance and user base. Apart from that, the top exchange has past held a voting event to list the coin, with 86% of the votes supporting the listing.
This list might greatly assist future asset increases. Besides, around Pi Day (March 14), suspicions are also skyrocketing. On this day the Pi Network team expects major announcements from the community. Renowned specialist also indicated towards a Pi rally to $3.5 as long as it generates the $1.05 support.
