Right now, there’s increasing pessimism surrounding Pi Coin, as it battles to recover its initial momentum following an initial burst of enthusiasm. Previously trading near $3, Pi has experienced a substantial decline, currently valued at around $0.62. This downturn is causing worry among existing holders and prospective investors due to the absence of significant price drivers and exchange backing.
BitMart Suspends Pi Trading – Still No Updates
A significant change is that BitMart has halted Pi trading for more than a month now. As per reports from various Pi community members, the exchange is still waiting on KYB (Know Your Business) approval from the Pi Core Team before they can move forward with the promised 1:1 Pi swap.
Dr. Altcoin, a prominent crypto commentator, asked on X (formerly Twitter):
Has there been any news regarding Pi withdrawals from BitMart? It’s already been over a month since Pi trading was halted, waiting for the 1:1 Pi swap to occur.
So far, no official timeline has been provided.
Has there been any news regarding Pi withdrawals from BitMart Exchange (@BitMartExchange)? It’s now over a month since Pi trading was halted, in anticipation of the 1:1 Pi swap. There are rumors circulating that Bitmart is still waiting for Know Your Customer (KYC) approval from the Pi Core Team (@PiCoreTeam). Let’s keep an eye on updates from both parties (@BitMartExchange and @BitMartResearch) regarding this matter.
— Dr Altcoin (@Dr_Picoin) April 23, 2025
Banxa Removes Pi Coin Access
To add to the confusion surrounding Pi Coin, Banxa – a reputable cryptocurrency payment service – has stopped offering support for it. Consequently, users are unable to purchase Pi via the platform. The rationale behind this decision is yet unknown, only adding to the uncertainty about Pi Coin’s short-term prospects.
A Glimmer of Hope: Huobi Hints at Big News
Even though there are present challenges, Pi owners might yet find some encouragement. Recently, Huobi Exchange, a leading global platform, has been subtly suggesting significant advancements concerning Pi.
Keep hold of your cheaply bought Pi tokens. Huobi Exchange has hinted multiple times about Pi on their Twitter. Expect related information soon! I’m not allowed to reveal too much, so feel free to speculate.
— Pi Barter Mall来购酷买 (@pibartermall) April 23, 2025
The messages on their social media platforms are urging users to keep holding onto their affordable Pi, possibly hinting at an impending announcement.
Consensus 2025: A Key Event for Pi Network
A significant upcoming occurrence is Consensus 2025, one of the biggest yearly meetings in the crypto sector. Pi Network, being a sponsor, has been given the chance to participate. Notably, Nicolas Kokkalis, the project’s founder, will deliver a speech at this event. This presents an excellent platform for the team to announce significant developments and rekindle enthusiasm.
Still No Major Exchange Listings
Although Pi Network initially garnered a lot of excitement, it’s yet to be listed on prominent exchanges such as Binance, Coinbase, and Kraken. This lack of presence on these platforms has kept its exposure and market demand relatively low in the broader crypto world. Since reaching its highest point, the value of Pi Coins has plummeted by about 80%, sparking concerns regarding its long-term viability unless significant advancements take place.
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2025-04-24 09:46