Pi Network, a cryptocurrency system that is said to be leaps and bounds ahead of mainstream currencies, including Bitcoin and Ethereum, continues to be on the decline. Pi Network marks its 6th anniversary today, Friday, March 14.
Pi’s 6th Anniversary
The cryptocurrency, ever since its migration to an open system has had to deal with some issues, internal and external. The network has been under the spotlight for its technical glitches, including KYC issues.
In addition, its presence is currently limited to a few exchanges namely OKX, Bitget, MEXC, and Gate.io.
It is still away from other big exchanges, including Binance. As it approaches its 7th year since creation, it would look to find a space at Binance along with Coinbase, and Kraken, this would further aid the cryptocurrency to get mainstream recognition and larger acceptance from the community.
Pi’s Latest Performance
When we look at the performance of this cryptocurrency, the numbers have been underwhelming.
As per latest data from CoinMarketCap, in the most recent session, the cryptocurrency dipped by a cumulative 2.96 per cent.
The progress of Pi in the most recent trade. | CoinMarketCap
The progress of Pi over the past month. | CoinMarketCap
In the past month of trade, the value of this currency has dipped by 1.69 per cent.
The current value of Pi Network is at USD 1.67.
Volatile Cryptoworld
This comes at a time of larger global market uncertainty, as global trade has been held hostage to the fear and volatility of tariffs and their fallout. This has also spilled onto the cryptomarket as well.
The value of crypto fell below USD 80,000 after scaling the mark of USD 1,00,000, barely 2 months ago. Ethereum has also struggled equally, if not more.
The value of crypto fell below USD 80,000 after scaling the mark of USD 1,00,000, barely 2 months ago. Ethereum has also struggled equally, if not more. |
The second biggest name in the world of virtual currencies has also shrunk in value by 29.84 per cent, just in the past month. Ripple, another digital currency has dipped by 10.75 per cent in the same period.
As long as volatility continues in the mainstream market, a new option like Pi may find it hard, crack the nut, and gain the faith of investors.
