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ZEC $1,143 Pi Network token PI falls below $1 billion market cap
PI is down 10% over seven days and 68% over 12 months, and trading volume has declined, the report says.
Key takeaways
- Under $1 billion. The PI token's market capitalization now sits below $1 billion, the report says.
- Two declines. PI is down 10% over seven days and 68% over 12 months.
- Upgrades did not stop it. The fall came despite recent upgrades, including Protocol 28.
What happened
The market capitalization of Pi Network's PI token has slipped below $1 billion. The report ties the move to selling pressure that is still running on the token.
The decline covers more than a week. PI is down 10% over seven days and 68% over 12 months, and trading volume has fallen as well, according to the report.
The drop happened even though the network has pushed out recent upgrades. One of them, Protocol 28, aims to improve smart-contract capabilities.
Why it matters
Falling below $1 billion is the headline figure in the report, and it frames how the token is now sized. The report does not offer an earlier market cap value for comparison.
The 12-month decline of 68% carries more weight than the weekly move, because it shows the slide has run for a year rather than a few days.
The report places the recent network upgrades next to that decline, so the token's performance stands apart from the development work the team has described.
Trading volume has also declined, which the report lists alongside the price moves as part of the same picture.
What the data shows
The report gives a market capitalization below $1 billion, a seven-day decline of 10% and a 12-month decline of 68%. It also names Protocol 28 among recent network upgrades and states that trading volume has declined.
What is still unclear
- The report gives no price for PI and describes the token only through its market capitalization.
- No figure is attached to the decline in trading volume.
- The report does not date the fall below $1 billion or the Protocol 28 upgrade.
- The report does not name a single cause for the continued selling pressure.
Questions readers ask
Why did the Pi Network PI token fall below $1 billion in market cap?
The report says selling pressure continues on the token. It also notes that PI is down 10% over seven days and 68% over 12 months, while trading volume has declined.
What is the market cap of Pi Network's PI token now?
The report states that PI has fallen below a $1 billion market capitalization. It does not give a more precise figure.
How much has PI dropped over the past year?
PI is down 68% over 12 months, according to the report. Over the past seven days, the decline is 10%.
Did the Protocol 28 upgrade lift the PI token price?
The report says the drop came despite recent network upgrades, including Protocol 28, which aims to improve smart-contract capabilities.
