Poor people's Bitcoin crashes in the crypto market, 99% down from all-time high
Hi, there hivers this is the post in which I am going to talk about the bitcoin of poor people. This week, a brand-new digital currency called Pi Coin was introduced to the cryptocurrency market. The "Bitcoin of the poor" is another name for it. Being the first cryptocurrency token that can be mined from a mobile device, it uses less energy. Following the launch of the Open Mainnet on February 20, 2025, Pi Coin experienced significant volatility.
Price of Pi Coin
With a 24-hour trading volume of $51.27 million, Pi Coin is currently trading at $0.7224. Over the past day, the price has decreased by 7.77%. Additionally, it is 18.63% above its 7-day low of $0.6089 and 99.61% below its 7-day all-time high of $183. Pi Coin has a total quantity of 9.76 billion, with a maximum supply of 100 billion. At the moment, 6.34 billion Pi Coins are in use.
Pi Coin: What Is It?
Nicholas Kokkalis and Chengdiao Fan, both Stanford PhD graduates, created Pi Coin, the native cryptocurrency token of the Pi Network. P2P transactions, merchant payments, and Web3-enabled decentralized programs (dApps) are its intended uses. The most unique feature of Pi Coin is that mining it doesn't require a sophisticated computer or more electricity. More and more individuals can use it because it allows mobile mining.
Before making an investment, bear these points in mind
There are a few crucial considerations to make if you plan to buy in Pi Coin.
Selling in bulk: The price of Pi Coin is declining as a result of those who have been mining it since 2019 selling it.
Lack of listing on significant exchanges: Its liquidity may be restricted because it is not currently listed on significant cryptocurrency exchanges like Binance and Coinbase.
Uncertain cryptocurrency legislation in India: Investment in cryptocurrencies can be risky because the country's policies are still unclear.
Uncertainty about the future: Pi Coin's future will be determined by how widely it is used and how many people use it.
Digital payments and Web3: The Pi network wants to encourage mobile mining so that Web3 apps and online payments can use it.
Update on the cryptocurrency market
Other cryptocurrencies are also undergoing volatility in addition to Pi Coin. In two days, Donald Trump's $TRUMP currency rose to $70 before plummeting to $17, while the $MELANIA meme coin dropped from $13.05 to $3.49. Meme coin market capitalization is currently $68.3 billion, a substantial decrease from its June 2024 top of $127.3 billion. At $95,452.69, Bitcoin is currently down 12% from its peak price of $109,114.88.
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