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Pi Coin is currently facing significant difficulties. After recently reaching a peak of $3, its value has dropped to approximately $0.62. The absence of strong influences to drive the price upward, combined with the loss of support from major exchanges, has heightened concerns among investors.
BitMart Suspends Trading, Uncertainty Persists
BitMart exchange suspended Pi Coin transactions last month and has yet to provide an update. Reports indicate that exchange officials are awaiting KYB (Know Your Business) approval from the Pi Core Team. Without this approval, the promised 1:1 exchange ratio for Pi cannot be executed for investors.
Patience within the community is wearing thin. Well-known crypto commentator Dr. Altcoin recently raised the issue on social media, questioning if there were any updates on Pi withdrawals from BitMart since the suspension. However, no official timeline has been announced yet.
BitMart’s silence is raising questions among investors. Many holding Pi Coin in their portfolios are uncertain about how much longer this ambiguity will continue.
Banxa Cuts Support, Huobi Offers Hope
Another setback for Pi Coin came from Banxa, which has disabled the purchase of Pi Coin on its platform. Users can no longer buy Pi Coin through Banxa, and no official explanation has been provided for this decision, further increasing downward pressure on the price.
Despite these negative developments, there are flickers of hope in the market. Huobi exchange has recently made intriguing social media posts about Pi Coin, suggesting that investors should hold onto their low-priced Pi. These calls indicate potential future developments.
Huobi’s statements have sparked expectations among investors for possible new listings or collaborations. Especially in the absence of other major exchanges, any positive news from Huobi could significantly impact the price.
The Consensus 2025 event could also represent a pivotal moment for Pi Coin. This major gathering in the crypto world will feature Pi Network as a sponsor, with founder Nicolas Kokkalis scheduled to speak. Expectations are high, as Kokkalis’s announcements during the event could signal new directions for the project, which is critical for rebuilding trust lost in recent times.
However, Pi Coin is still not listed on major exchanges like Binance, Coinbase, or Kraken. This situation limits access to the altcoin and significantly decreases investor interest. The failure to achieve listings on major exchanges despite high expectations continues to test investor patience. Without timely actions from the project, the downward price trend may persist.
