Pi Network as it finally transitions to its Open Network Mainnet, a milestone six years in the making. With millions of users having mined PI tokens, the big question now is whether Pi will achieve real-world adoption or face liquidity challenges.
Pi Mainnet Launch: From Euphoria to Sell-Offs
On February 12, the Pi Core Team confirmed the long-anticipated launch, sparking excitement within the community. The news that PI would be tradable further fueled the optimism. However, the launch has not been without controversy, with ongoing debates surrounding Know-Your-Customer (KYC) verification requirements.
Despite the excitement, market dynamics have quickly shifted. The Pi IOU token, which had rallied in anticipation of the launch, suffered a sharp 97% drop in value following the Mainnet announcement. Similarly, the PI coin itself has experienced a 15% decline since going live, likely due to sell-offs by miners and early holders eager to cash out.
At the time of writing, PI is trading around $1.47, but sustained selling pressure could push the price even lower as more users gain access to their holdings and look to convert them into fiat or other cryptocurrencies.
Exchanges Boost PI Coin Accessibility
Pi Network’s tokenomics reveal a maximum supply of 100 billion PI, with 65% allocated to miners, 10% to ecosystem growth, 5% to liquidity pools, and 20% to the Pi Core Team. However, only 9.7 billion PI is currently in circulation. As more tokens unlock, further price corrections could be on the horizon.
More exchanges have begun listing PI, expanding its accessibility. Initially listed on OKX, MEXC, and Gate.io, additional platforms such as Bitget have now enabled PI futures trading, with some offering up to 10x leverage. Omnichain liquidity providers have also joined the fray, boosting PI’s market activity.
Binance Poll Hints at Further Listings
Top-tier exchange Binance has ignited speculation about a potential listing after launching a community poll on whether it should support PI trading. A Binance listing could significantly increase PI’s trading volume but might also intensify downward price pressure if sell-offs accelerate.
Also Read: Pi Network Goes Open: Founders, Pi Coin’s Journey, and Future Prospects
While the Pi Network Mainnet launch is a significant achievement, the long-term viability of the PI coin remains uncertain. As adoption and liquidity evolve, only time will determine Pi’s true market standing.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
