Pi coin market cap hits 0 on CoinMarketCap
Even earlier than the official launch of Pi Coin, its IOU coin bumped into bother with its market cap plummeting to 0 on widespread crypto portal CoinMarketCap. Whereas the explanations behind this uncommon occasion stay unclear, it certainly serves as a setback to the Pi group 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 in a while with the official coin.
Whereas the launch is anticipated by Q1 2025, the rationale 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 group, the market cap might have turned to zero, however the FDV continues to be $3.51 billion.
For the reason that 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% improve 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?
