OKX News: Pi Network’s PI Token Plunges to Monthly Low, Raising Questions About Future Prospects

The cryptocurrency market is always volatile, and recent developments in Pi Network’s PI token serve as a stark reminder of this fact. Launched just over a month ago, the asset has seen its value fluctuate drastically, raising questions about its future prospects.

Pi Network’s PI Hits Monthly Low: Breakdown or Breakout Coming?

Pi Network’s native token PI, launched just over a month ago, has been experiencing a decline. The asset, which initially saw increased interest after its Open Network and token went live on February 20, reached an all-time high of $3 at the end of February. However, it has been all downhill since then, plunging to a monthly low of $0.8 on OKX earlier today. Analysts on X envision further declines for the asset despite reassurance from the Pi community.

Thailand’s SEC Files Criminal Complaint Against OKX

Thailand’s Securities and Exchange Commission (SEC) has filed a criminal complaint against OKX for operating a digital asset exchange business in the country without a license. The complaint, filed with the Economic Crime Suppression Division (ECD), alleges that OKX violated the Emergency Decree on Digital Asset Businesses (2018) by operating without a license since October 2021 and charging transaction fees. The SEC stated that OKX’s activities are liable to be an operation of a digital asset exchange business, for which it has not obtained a license, in violation of the Emergency Decree. The regulator also noted that OKX was promoting its unlicensed operations on social media platforms.