Pi Network A Finally launched his open handAnd the excitement is real! After years being in a closed system where users could not freely exchange their Pi tokens, the network has now opened completely. This means that PI holders, also called “pioneers”, can finally use their tokens outside the PI network. The developers have also been occupied, with more than 100 applications already built on the network, covering everything Decentralized finance (DEFI) In the game.
Unlike Bitcoin, which requires powerful computers to exploit, Pi Network allows people to use the tokens of their mobile phones directly. This easy access made it one of the most adopted crypto projects, with millions of users registering even before the launch of Open Mainnet. However, the prices were not impressive day 1. Here is how Market reacted to this launch of Mega.
PI room price in the sea wave
As Pi hit the market, its price made a wild ride. During the first hour of negotiation, it increased by 36.8%, reaching $ 1.97, but quickly started to fall. On OKX, it fell to $ 1.80, while on Bitget, it touched $ 1.78. Things have become even crazier on Bitget, where Pi briefly increased to $ 3.40 before crashing, and on parbit, the price fell below $ 1 in no time. Currently, the token is negotiated at $ 1.33 closer to its launch price, recording a drop of 24% in the last hour.
Above, the IOU trade (a kind of speculative market where people exchange without really holding the token) had a value of $ 61 and $ 70. Now, with the real trading in place, the price is much lower, proving that speculation was far from the brand.
Who lists Pi and who holds back?
With the Mainnet finally opened here, several large Cryptography exchanges Precipitating to register PI, including OKX, HTX, Bybit, Mexc, Gate.io, Bitmart and Bitget. However, Binance – The greatest exchange in the world– is always on the fence. Instead of listing Pi immediately, Binance started a survey Ask users if they wanted the added token. The survey takes place until February 27, but even if users vote “yes”, there is no guarantee that Binance goes ahead with the list. Meanwhile, other exchanges like Coinbase, Kraken and Upbit did not make any announcement regarding PI.
What is the next step for PI?
Although the launch of PI Network is a big step forward, the price of the token remains very unpredictable. Many first minors have been keeping their PI for years, and if they are starting to sell in large numbers, the price could still drop. On the other hand, if the binance and other major exchanges decide to list Pi, demand could increase higher prices.
Currently, Pi sets up the braking wave, but that it stabilizes or remains a volatile asset is something only time will say.
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