Pi Network price crash intensifies: Can Pi coin rebound?

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Pi Network price has continued its downward trend this week even as Bitcoin and most altcoins rebounded

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Pi Network dropped to $0.7915 on Wednesday, its lowest level since February 2022, down by over 74% from its all-time high. Its market cap has dropped from almost $20 billion to $5.35 billion, a $14.65 billion wipeout.

Here’s why Pi Network, Jasmy, LTC, Ethena, and altcoins are down

Pi Network has crashed because more exchange listings have remained elusive over a month after its mainnet launch. Most of Pi’s trading is happening on exchanges like OKX, Gate.io, and Bitget. Pi coin price has also crashed as demand among investors wanes. According to CoinGecko, its 24-hour volume on Wednesday was just $213 million. At its peak in February and early March, Pi averaged over $1 billion in daily volume.