Despite the Market Downturn and Criticism, Pi Network Remains Stable!

Jakarta, Pintu News – After a market correction, Pi Network’s token price has stabilized, maintaining consistency despite broader volatility. Its daily trading volume has also reached $500 million as of February 26, 2025.

However, PI has also experienced high inflation, and claims regarding its market capitalization remain unverified.

Pi Network Shows Stabilization

Pi Network , a blockchain project that has been stealing the show in the crypto space, has had some notable developments in recent days.

Binance updated the results of the latest community vote to list the token, confirming that the proposal received 86% support. However, the decision to list it is still pending.

Read also: 3 Crypto Facing a Downturn by March 2025!

Despite broader concerns about a possible bear market, this altcoin showed stability after a short market correction.

With March 14 (Pi Day) approaching, some fans are anticipating a big announcement from the developers. The project’s official X account has already surpassed the number of Ethereum followers and is now the fourth most followed crypto account on the platform.

Of course, the most recent Pi airdrop was the most valuable airdrop in history with a total of $12.6 billion, so making a bigger announcement would be very difficult.

Pi Network’s Market Capitalization Passes $10 Billion

In the last five days, as many as 200 million Pi tokens have been in circulation. This leads to an inflation rate of 0.634% per day and 231.41% per year, which is extremely high.

In addition, CoinMarketCap data shows that PI’s market capitalization has exceeded $10 billion, making it one of the top 15 cryptocurrencies on the market. However, the platform has not updated its ranking, likely due to the self-reported market capitalization and has not been independently verified.

“Pi Network is currently ranked 3157 on CoinMarketCap as its market capitalization and circulating supply have not been verified. However, if the reported supply is correct, Pi will have a market capitalization of over $10 billion, placing it at rank 11-12,” wrote well-known influencer, Zoe.

Pi Network faces sharp criticism

Nonetheless, these claimed figures remain unverified, and Pi Network has some sharp detractors.

Read also: Pi Network Price Surges 22% Today (2/26): Could PI Coin Rally Towards $3.14?

Ben Zhou, CEO of Bybit, has loudly called the project a scam, reminding his followers that the Chinese government considers the project a blatant pyramid scheme.

CoinMarketCap seems reluctant to list this token as a major competitor at this early stage. Other big data tracking platforms such as CoinGecko also ignore the market capitalization of this token.

In short, the recent news cycle about Pi Network has been quite chaotic. Its supporters continue to build the project’s international reputation, but its detractors wonder if the whole endeavor is just a bubble.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Pi Network Stabilizes Despite Market Downturn and Mixed Reception. Accessed on February 27, 2025