Pi Coin, which has gotted a lot of discussion in the world of cryptocurrency, is once again in the headlines. On Monday, Pi Coin Value fell nearly 2% to ₹ 0.60. At the same time, its market cap declined by 1% to $ 4.15 billion. This decline has come at a time when PI Community has received an important regulatory approval, which has expanded its international access.
Significantly, amidst the instability of the Crypto market, recent shocking news came out, in which Ecu Alternate’s WhiteBit Token Foke Rapid Focus Got out. Interestingly, WBT’s market cap was far behind the PI community on coinmarketcap, yet he gained an edge. In such a situation, questions arose as to why this inequality was seen.
Pi coin price falls drastically
The price of Pi Coin has been recorded by 5% in the last 7 days. Although the price in between went to ₹ 0.62, there was a decline again after that. If we talk about its all-time high, then Pi Coin had reached close to $ 3 and now about 82% has fallen from there. This huge decline is raising concerns about its long-term future among investors.
Kyb Esteem : Big step towards global expansion
Banxa, a major crypto payment platform, has recently received “Know Your Business” (KYB) approval, Pi Coin gets international recognition Is. This approval allows users from more than 100 countries to buy Pi coin via cash. A representative of Pi Community said that “now people can buy Pi coin from cash in 100+ countries through BANXA.”
This approval has come at a time when Banxa temporarily stopped the Pi Transaction. According to reports, during this time, BANXA had planned to buy a large amount of PI at low prices so that trading could be started again as soon as regulatory clearance is received.
Now that KYB Estem has been found, Banxa has resumed PI transactions. Apart from this, other platforms like Bitmart and HTX are also expecting to get Kyb Estem in the next 10 days.
Only kyb licensed companies can trade
According to market rules, only KYB approved companies can legally trade Pi Coin. At the same time, individuals doing P2P (Pear-to-Pier) transaction are required to be KYC approved and they have to use non-Custodial wallets.
Market status and forward path
Despite getting good signs on the regulatory front, the perception of the market still remains negative. Pi Coin is currently trading at about $ 0.50 and $ 0.60 is considered its next resistance level. If the price breaks this level, it may indicate a possible boom of up to $ 1.
Warning for investors
The current situation of Pi Coin has many unresolved questions such as its liquidity, number of exchange listing and lack of transparency about network’s economics. All these factor recommend investors to be vigilant.
Conclusion
Banxa’s Kyb Estem is a positive signal despite the fall in the price of Pi Coin, which will help in its international expansion. However, questions about market notion and validity are still intact. In such a situation, investors should be ahead and make further strategy.
