Pi Network Price Drops 8% to $1.35 Amid Market Volatility
The Pi Network's price has decreased by 8% to $1.35, erasing weekly gains after a 20% drop from its peak of $1.70. The cryptocurrency has fallen 10% below key support at $1.50, giving bears an advantage. Analysts suggest a potential further decline to $1.20.
Supply Increase and Market Sentiment
- An additional 129 million Pi Coins, worth $175 million, will be released this month.
- Anticipation for a Binance listing on March 14, dubbed "Pi Day," has not been confirmed, impacting investor sentiment.
- Mixed market signals cloud the future of Pi Network’s price amid concerns over upcoming token unlocks.
Launch of Pi Domains
Pi Network introduced Pi Domains to expand its market presence. Founder Nicolas Kokkalis stated that .pi domains have the potential to reshape digital interactions, similar to traditional internet domains.
- Domains will be auctioned exclusively using Pi Coin from March 14, 2025, to June 28, 2025.
- Concerns exist regarding their practical application, as access is limited to the Pi ecosystem and cannot be used with conventional browsers.
- Community members question governance, security, and consumer rights related to these domains.