Pi Network’s price continues to spiral downward, currently trading at $1.17. The digital asset, which saw a peak of nearly $3 last month, has been in freefall ever since, with a sharp 16% decline in just the last 24 hours. A major contributor to this drop appears to be the conclusion of the KYC Grace Period, which ended on March 14, leading to increased uncertainty and potential panic selling among holders.

Pi Network had previously warned users to complete their KYC verification before the deadline to avoid forfeiting their mined tokens. The lack of an extension may have exacerbated fears, prompting many to offload their holdings in anticipation of further declines.

Adding to the pressure is the ongoing reluctance of Binance, the world’s largest cryptocurrency exchange, to list PI. Despite conducting a community vote where over 86% of participants expressed their support for the token’s inclusion, Binance has yet to take any action. Other major exchanges, including Coinbase and Kraken, have also refrained from listing PI, while Bybit’s CEO Ben Zhou publicly labeled the project a scam.

PI’s turbulent journey began when it officially launched its Open Network on February 20, sending its price soaring above $1.80. However, within 24 hours, it nosedived below $0.65 before rallying to an all-time high of nearly $3 at the end of the month. Since then, the asset has been on a steep downtrend, raising concerns about its long-term viability.

Despite the grim outlook, some traders remain optimistic. Certain market watchers believe the token may soon recover, with predictions of a new price surge once it stabilizes at $1. Others have set their sights even lower, claiming they will accumulate more PI if it drops to $0.60, expecting a major rebound in the future.

For now, PI’s fate hangs in the balance, as the market watches closely to see if any major catalysts—such as a Binance listing—could reverse its current downward trajectory.