Pi Network's Price Drops 60% in a Month, Investors Sell

Pi Network, a cryptocurrency that gained significant attention after reaching its all-time high of $2.98 in February, has since experienced a decline in price. As the value approaches its all-time low, investors are exploring options to sell their Pi Coins. The price of Pi Network currently stands at $0.7118, reflecting a 20% decrease over the past week and a 60% reduction over the last month. This bear market trend has led many token owners to eliminate their assets from their portfolios.

Market participants remain cautious due to the currency’s downward trend and uncertainty surrounding token unlocks, which has resulted in a significant sell-off. The market capitalization of Pi Network has dramatically reduced from $20 billion to $4.76 billion, highlighting the challenges faced by the network. The lack of exchange listings, with major platforms like Binance and Coinbase showing no willingness to list the token, further hinders the market’s recovery and keeps potential buyers at bay.

Despite these challenges, several cryptocurrency exchange platforms, including Gate.io, Bitget, OKX, and MEXC Global, currently support the sale and purchase of Pi Coin. Users can exchange Pi coins through various currency combinations available on these platforms. The Pair trading between Pi Coin and USDT has produced high trading volumes on the Gate.io exchange. Before selling Pi Coin, users need to transfer their mined coins from the Pi Network app into a suitable wallet. The selection of wallets available to Pi Network users depends on the blockchain technology the network implements, along with possible provisions built-in by Pi Network itself.

Once transferred to compatible wallets, users can start selling their Pi Coins on exchanges that support trading of Pi Coin. The mainnet launch from Pi Network will make Pi Coin accessible on open public trading exchanges, potentially allowing users to gain access to buying other cryptocurrencies and fiat currency on mainstream exchanges like Binance and Kraken. However, sellers must exercise caution during periods when the price gets close to its all-time low location.