Pi Network token price plunged by 21% after Bybit CEO Ben Zhou decided not to list it, raising concerns among investors.
Pi Network Price Drop
The Pi Network token lost 21% of its value within the last 24 hours. This decline followed the statement by Bybit CEO Ben Zhou, explaining his decision not to list the token due to doubts about the project's reliability.
Open Network Project and Price Rise
The launch of Open Network is scheduled for February 20, offering users access to free token trading. This milestone led to an 80% price increase for Pi as investors anticipated a surge of new users.
Exchange Reactions and Market Expectations
Following the announcement, OKX confirmed its plans to list Pi for spot trading, boosting investor trust. Bitget also announced its intention to list Pi on the same day. However, Bybit's decision cast doubts on the project's reliability. The coming days will be crucial for market dynamics as traders determine whether buyers can withstand seller pressure or if the price will continue to decline.
The current situation surrounding Pi Network raises questions about the project's reliability and future market presence. Exchange decisions and investor reactions will influence the future price movements of the token.
