Pi Network Price Today: Pi Coin Falls Over 50% From Peak Amid Buzz Over Potential Binance Listing

Newly launched cryptocurrency Pi Coin has fallen more than 55% from its peak, amid a broader market selloff. The volatility in the crypto market was triggered amid uncertainty over US President Donald Trump’s plans for high tariffs on imports in the US and growing concerns surrounding the US economy.

Pi Coin price has dropped to $1.38 currently, marking a 53.69% decline from its peak of $2.98 per piece hit on Feb. 26.

Other crypto currencies, including Bitcoin and Ethereum also experience significant decline as spooked investors fear that trade tensions could lead to a recession. Bitcoin dropped below $77,000, hitting a four-month low, while Ethereum fell 8%. Among other crypto currencies, XRP, BNB and Solana also saw significant losses.

Launched on Feb. 20, Pi Coin turned into a tradable asset after its operational blockchain network was activated. Founded in 2019 by two Stanford graduates, Nicolas Kokkalis and Chengdiao Fan, the coin was launched with the objective of making cryptocurrency accessible to everyone.

Pi Coin’s launch has raised hopes for profit, particularly among those who once underestimated the value of popular coins like Bitcoin, which are now out of reach due to their high prices. However, the ongoing market volatility has tempered expectations for short-term investors.

The coin has also gained attention among investors ahead of its potential listing on Binance, the world's largest cryptocurrency exchange. According to a report by Fortune, Pi Coin could be potentially launched on Binance on Mar. 14.

Notably, Binance had organised a vote for Pi Coin’s listing in February, in which 86% of almost 3 lakh voters had favoured the cryptocurrency. But, Binance made it clear that the vote was for 'reference' only, the report added.

Investors are hopeful that Binance’s potential listing of Pi Coin will provide it with momentum to reverse the declining trend. According to the Fortune report, the listing could push its value up to $3.

Over the last decade, many investors have found cryptocurrency as a lucrative investment diversification option, buoyed by Bitcoin’s astronomical growth. Positioned as the world’s most valuable crypto currency, one bitcoin is currently priced at $80,792.62. In 2010, it traded at as low as $0.1.

On Mar. 4, Trump hinted at establishing a federal crypto reserve, which would include Bitcoin, Ethereum, XRP, Solana and Cardano. If implemented, this move could significantly boost their value.