Pi Network Crashes 7% Today (March 7, 2025) – Founder Drops Cryptic Message!

Jakarta, Pintu News – On March 7, 2025, both Bitcoin BTC0.11%->Current BTC PriceRp 1.379.796.9380.11%Market CapRp 33.034 TriliunTrading VolumeRp 1.590 TriliunCirculating SupplyRp 19.797.675 and Ethereum ETH0.81%->Current ETH PriceRp 31.778.2360.81%Market CapRp 7.444 TriliunTrading VolumeRp 594,65 TriliunCirculating SupplyRp 120.452.072 underwent a market correction. However, stealing the spotlight was Pi Network (PI), which saw a sharp 7% decline during the same period.

Pi Network (PI) Price Plunges 7.6% in 24 Hours, Market Sentiment Weakens

On March 7, 2025, Pi Network (PI) saw a 7.6% decline in the past 24 hours, trading at $1.81 (approximately 29,573 IDR). This correction came after PI briefly surged to $1.96, before retreating to its daily low of $1.77.

Read also: Could Pi Network’s Price Skyrocket to $100 if the SEC Approves a Pi ETF?

Pi Network’s market capitalization currently stands at $12.78 billion, with a fully diluted valuation of $19.66 billion. Meanwhile, trading volume in the last 24 hours was recorded at $560.29 million, indicating an increase in buying and selling activity despite the downward price trend.

Currently, Pi Coin has a circulating supply of 7.08 billion tokens, out of a total supply of 10.89 billion, with a maximum supply set at 100 billion tokens.

Mysterious Message from Pi Network Founder

Chengdiao Fan, Founder and Head of Product at Pi Network, recently delivered a message via the X platform urging Pioneers to stay focused and not be swayed by external distractions.

Fan emphasized the importance of continuing to work hard and actively participate in the Pi Network ecosystem.

“Pioneers, don’t let the noise distract you, focus on what is essential and what can make a difference in the world. Keep working and trading, and the results will follow. Let’s prove to the world that there are other ways to access crypto and show the power of Pi Network in the new era of open networks,” he said.

These comments come after Ben Zhou, CEO of Bybit, and several other crypto experts called the project a scam, with Zhou specifically calling it targeting “old people”.

Zhou also challenged the founders of Pi Network to provide an open response if their project is indeed legitimate and transparent.

Read also: Is Pi Network (PI) Poised for a $10 Breakout? Analysts Unveil a Major Opportunity!

Extension of Clemency Period by Pi Network

Meanwhile, the Pi Network recently announced an extension of the end of their clemency period until 8:00 UTC on March 14, 2025, coinciding with the network’s sixth anniversary.

The purpose of this extension is to allow more time for Pioneer to complete their Know Your Customer (KYC) process and move their Pi to the Mainnet. This clemency period, which has been extended several times, is crucial to maintaining an authentic, verified, and decentralized network.

Pi Network stated that this extension reflects their dedication to inclusivity and accessibility, giving inactive Pioneers the opportunity to complete their KYC and migration.

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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:

• Fortune India. Is Pi Network’s Pi Coin just a scam targeted towards elderly folks? Founder shares key cryptic message ahead of grace period deadline. Accessed on March 7, 2025