TL;DR
PI dropped below $0.55 as market tensions and global trade wars escalate.
With millions of tokens set to unlock this month and no major exchange listings, the price might continue its downtrend in the near future.
Pi Network’s native token, which has been in severe decline in the past few months, saw an evident resurgence over the weekend. As CryptoPotato reported, its price pumped by double digits and hit almost $0.75 on April 5.
However, the bears stepped in again with the start of the new business week, erasing much of the gains. Currently, PI trades at around $0.53 (per CoinGecko’s data), representing a 14% decline on a 24-hour scale. Its market capitalization slipped below $4 billion, pushing the asset away from the top 30 club.
PI Price, Source: CoinGecko
The most likely explanation behind the latest plunge is the overall collapse of the digital asset sector witnessed in the past several hours. The financial and crypto markets are under serious tension following the
We współpracy z: https://cryptopotato.com/why-is-the-pi-network-price-down-today/
