Pi Coin sees massive drop, price drops 62% – What does this mean for investors?

Pi Network Coin, which recently joined the cryptocurrency market, fell prey to a massive drop just a day after its much-awaited listing. On Friday, 21 February 2025 at 9:35 am (IST), the coin fell 62.63% to $0.737, while it was at a high of $1.97 at the time of its launch.

However, this listing is a significant achievement for Pi Network. Now the coin can be traded on major cryptocurrency exchanges like Binance, CoinDCX, OKX, and Bitget. This was a great opportunity for millions of users of Pi Network, but such a huge drop in its price surprised investors.

There was tremendous enthusiasm among the people towards Pi Network Coin, but soon after its launch, its price fell drastically. It fell from $1.97 to $0.737, which made investors worried.

There could be several possible reasons behind this:

The biggest reason for the decline in the price of Pi Network Coin is believed to be early miners selling their holdings. Since 2019, Pi Coin was being mined through a mobile-based system. Millions of users deposited it at no cost, and when it was listed on exchanges, many early investors sold coins in large quantities. This led to a huge supply in the market, while demand remained limited, resulting in a massive drop in the price.

Digit currency expert Kim H Wong shed light on this trend, saying: “The important thing is that Pi Network has successfully opened its network to the world. When big investors invest in it, its price may rise again.” At the moment, the price of Pi Coin is under pressure due to the high supply of coins in the market and low demand from investors.

The launch of Pi Coin was supported by several exchanges such as OKX, Gate.io, and Bitget, but it did not get listed on Binance, which negatively impacted its value. Binance is the world’s largest cryptocurrency exchange, offering extreme liquidity, reliability, and wide access to any digital asset. The lack of listing on Binance is proving to be a major drawback for Pi Network Coin. However, Binance recently sought users’ opinions about Pi Network on its social media platform X (Twitter), leading to speculations that Binance may consider listing it. But until an official announcement is made, Pi Coin will be considered to be in a weak position compared to other established cryptocurrencies.

Pi Network has a huge user base, but its ecosystem is limited as of now. Major crypto projects like Bitcoin and Ethereum have thousands of applications and use cases. In contrast, Pi Network is still in its early stages and does not have many Decentralized Applications (dApps) on its network. Although features like Pi Browser and Pi Wallet are available, these only provide basic functionality. As such, until Pi Network develops more Web3 applications and real-world use cases, it will not be able to attract serious investors.

Bybit exchange CEO Ben Zhou termed Pi Coin a “scam” and said that his exchange will not list it. Zhou had already made it clear that Bybit has no intention of listing Pi Coin. He said in his statement:

“Bybit will not list scams.”

Ben Zhou explained from his Forex trading experience that he prefers to avoid projects that have the possibility of users demanding their funds back. His statement further negatively impacted investor sentiment towards Pi Coin.

Pi Network is a blockchain project that was launched in 2019 by some graduates of Stanford University. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, Pi can be mined on a smartphone. Users simply have to open the app once a day to earn coins.

According to the official website of Pi Network: “Pi Network is a community of millions of users who are mining the Pi cryptocurrency and building a Web3 app ecosystem.” Pi’s network is designed to be immutable, i.e. transactions once recorded cannot be changed. This protects the coins from counterfeiting and makes it secure.

According to a report, the Pi app does not consume battery, making it convenient for users.

The 62% crash of Pi Network Coin has proved to be a shock to many investors. However, this decline was due to three main reasons:

Even though the price of Pi Coin is currently under pressure, some experts believe that in the future if big investors join it and its utility increases, its price may rise.