Even earlier than the official launch of Pi Coin, its IOU coin bumped into bother with its market cap plummeting to 0 on fashionable crypto portal CoinMarketCap. Whereas the explanations behind this uncommon occasion stay unclear, it certainly serves as a setback to the Pi neighborhood that has set its hope sky excessive for the official token launch.
As of now, the Pi IOU coin is only a illustration coin, which crypto exchanges promise to swap afterward with the official coin.
Whereas the launch is predicted by Q1 2025, the explanation for its IOU coin market cap to plummet to zero is unknown, there are speculations that this may also be a glitch by CoinMarketCap.
In a aid to the neighborhood, the market cap could have turned to zero, however the FDV continues to be $3.51 billion.
Because the final week, Pi coin has seen a bounce from the $40 vary. At current, its buying and selling at $51.7. This exhibits over a 30% enhance on this timespan.
The buying and selling bitmart is most for the coin, because it represents a 75% share of total shopping for and promoting. HTX comes subsequent with 25%, however the value right here is far decrease than different exchanges.
Additionally Learn: Will Pi Coin Reach $100 on Mainnet Launch?
