PI drowning the price of PI more than 24 % a week with the growth of doubts in facilities – Cryptomode
The original symbol of the PI, PI, witnessed its decline in the price of the investor and the first participants in loading their property after many prominent lists that were popular in achieving them failed.
The symbol, which has not yet valued a list of major central stock exchanges like Binance, has struggled to obtain strength outside its community despite an opinion poll about the exchange of the leading cryptocurrency in seeing overwhelming support for an inclusion.
This delay in the availability of the public may cool the excitement and make it difficult for new buyers to enter the market, which effectively led to a sale. PI have now decreased over 24 % over the past seven days trading at 0.886 dollars per code, and has decreased from about $ 3 seen last month.
The first adoption of the distinctive symbol-whose accumulation is PI during the multi-year Testnet stage-is collecting collectively. Due to the recent high prices, those who adopted the early code managed to collect large quantities of it through a mobile phone system and saw their opportunity to unload the market.
PI network criticism
The project also criticized its benefit in the real real world. Although the Pi Network promotes itself as a project to be accessible to mobile phones, it has not yet provided use cases that exceed the basic user base.
The alternatives to the fraud process, although uninterrupted, has increased the pressure pressure on the distinctive symbol. The history of the project was afflicted with controversy, especially an internal crisis in 2020, which includes its founders, which led Allegations From financial mismanagement.
This conflict was finally resolved in 2023, but the settlement details are still secret.
The project was accused of working as a pyramid scheme because of its lack of transparency, while others argue that its structure is similar to the Ponzi scheme. Earlier, CEO of BYBIT Bin Chu He cited a warning from the Chinese police To accuse the PI network of fraud.
