Recent shifts in the cryptocurrency market have adversely affected Pi Coin, leading to a significant decline in its value and trading volume.
Price Drop of Pi Coin
The value of Pi Coin has dropped over 10% in the last 24 hours, reaching around $0.53. This decline is linked to growing concerns among altcoin traders and a notable decrease in market activity.
Decrease in Trading Volume
The trading volume of Pi Coin has fallen by 57%, also linked to extensive sell-offs that have undermined investor confidence. The aftermath has resulted in liquidations totaling approximately $1.4 billion, significantly impacting not just Pi Network but the broader altcoin market.
Lack of Communication and Trust Issues
One of the main issues for Pi Network stems from the unlocking of previously restricted coins. Despite reduced expectations, 1.5 million coins are set to be unlocked daily this April. The silence from the team regarding future plans and potential exchange listings has further eroded trust among supporters.
In light of the current market situation, the need for transparency and decisive actions for Pi Network is more pressing than ever.
