Pi Network News Today: April 8th

Despite its controversy, Pi Network remains one of the most talked-about cryptocurrency projects, while its native token has been on a rollercoaster lately. In this article, we will touch upon anything new on the matter that happened in the past few days.

Partnerships pile up

Just recently, Pi News (an X channel dedicated to the project with over a million followers) shook hands with Pi CrowdFund (a Web3 platform based on the Pi Network public chain).

The latter highlighted the collaboration, saying the main goal will be “to provide timely and accurate updates on Web3 projects within the Pi ecosystem.”

Earlier this month, Pi News inked a deal with PiPhrase, which was described as an “innovative, transparent Web3 Pi project that aims to protect Pioneers whose Pi Wallet Keys have been exposed.”

The partnership aims to assist users in recovering their keys, particularly if they have misplaced 1, 2, or even 3 words from their 24-word Pi Wallet.

PI price volatility

The native token of Pi Network has been in massive decline since its all-time high of almost $3 at the end of February. It plunged well below $0.50 on April 4 before witnessing a solid rally above $0.70 the following day.

However, the start of the business week offered more pain to the bulls as PI was not spared amid the bloodbath of the entire cryptocurrency sector. Currently, the price is hovering at around $0.57, representing a 63% decrease on a monthly scale. 

Despite the negative performance, some market observers remain optimistic. The X user MOON JEFF expects PI to reach a new all-time high by June, basing the forecast on the potential end of the global trade war. 

Interestingly, mere days ago, he called Pi Network a slow rug pull and claimed that the native token will never reach $1 again. 

Support from exchanges and big buy, but Binance stands aside

Numerous cryptocurrency platforms introduced trading services with PI following the launch of the project’s Open Network. Some examples include OKX, Bitget, Gate.io, and the most recent BTCC.

Binance was also rumored to join the club after issuing a community vote to determine whether its users want to see PI available on the trading venue. Over 86% of those who took part in the initiative picked the “yes” option, but the company has yet to respect their wishes.

Its lack of action has caused frustration across the PI community, with some members doubting that Binance will ever embrace the token. 

Separately, BANXA, a global infrastructure provider, has reportedly bought over 30 million PI tokens (valued at almost $20 million at the time of the transactions), which goes to show the entity’s belief in the Pi Network ecosystem.