The PI has finally launched the open Mainnet network, and the excitement is real! After years of being in a closed system where users have not been able to trade their PI codes freely, the network has now been opened completely. This means that PI holders, also known as “pioneers”, can finally use distinctive symbols outside the PI network. The developers were also busy, as more than 100 applications were built on the network, covering everything from decentralized financing (Defi) to games.
Unlike Bitcoin, which requires strong computers to remove them, Pi Network allows people the features directly from their mobile phones. This easy access has made one of the most adopted encryption projects that were widely adopted, as millions of users registered even before the open Mainnet launch. However, the prices were not impressive on their first day. Here’s how the market’s reaction was to this huge launch.
Pi Coin Price in the sea wave
The moment when the market hit me, its price went on a wild trip. Within the first hour of trading, it increased by 36.8 %, to reach $ 1.97, but soon began to decrease. In OKX, he decreased to $ 1.80, while on Peter, touched $ 1.78. Things became more crazy on Bitget, as the PI rose shortly to $ 3.40 before the collapse, and on bybit, the price decreased to less than one dollar at any time. Currently, the distinctive symbol is traded at $ 1.33 closer to the launch price, as it records a 24 % decrease in the last hour.
At the top, IOU Trading (a kind of speculative market where people traded without keeping the distinctive symbol) had between $ 61 and $ 70. Now, with actual trading, the price is much lower, which proves that speculation was far from the mark.
Who is included in me and who hinders?
With the finally open Mainnet here, many large codes rushed to PI, including OKX, HTX, Bybit, Mexc, Gate.IO, Bitmart and Bitget. However, Binance – the largest exchange in the world – remains in the fence. Instead of inserting PI immediately, Binance started a poll asking users if they want to add the distinctive symbol. The poll lasts until February 27, but even if the users vote “yes”, there is nothing to ensure that Binance will move forward with the list. Meanwhile, no other exchanges such as Coinbase, Kaken and Upbit have not been issued any ads about PI.
What is the following for PI?
Although the launch of the Pi Network is a big step forward, the price of the distinctive symbol is still largely unexpected. Many of the first miners have been adhered to PI for years, and if they started selling in large numbers, the price may decrease further. On the other hand, if Binance and other main exchanges decide to insert PI, the demand may lead to high prices.
Currently, the PI rides the noise wave, but whether it settles or remains one of the volatile assets, the time will only be told.
Do not miss any rhythm in the world of encryption!
Stay in the foreground with urgent news, expert analysis, actual time updates about the latest trends in Bitcoin, Altcoins, Defi, NFTS and more.
Common questions
The price of the PI Coin decreased due to the high speculation, early sale, and market corrections after the initial noise of the open Mainnet launch.
Pi Coin was listed on OKX, HTX, Bybit, Mexc, Gate.IO, Bitmart and Bitget, while Binance and Coinbase have not yet been affected.
