Pi Coin Launch Sparks Wild Price Swings – Sell or Hold?
The post Pi Coin Launch Sparks Wild Price Swings – Sell or Hold? appeared first on Coinpedia Fintech News
Pi Network has finally launched its open mainnet, and the excitement is real! After years of being in a closed system where users couldn’t trade their PI tokens freely, the network has now fully opened up. This means Pi holders, also known as “pioneers,” can finally use their tokens outside the Pi network. Developers have also been busy, with over 100 applications already built on the network, covering everything from decentralized finance (DeFi) to gaming.
Unlike Bitcoin, which requires powerful computers to mine, Pi Network lets people mine tokens straight from their mobile phones. This easy access has made it one of the most widely adopted crypto projects, with millions of users signing up even before the open mainnet launch. Yet the prices were not impressive on its day 1. Here’s how market reacted to this mega launch.
Pi listed on OKX:
1 PI = 2$
What's your thoughts, pioneers? pic.twitter.com/cd75VhQCzL
The moment Pi hit the market, its price went on a wild ride. Within the first hour of trading, it shot up by 36.8%, reaching $1.97, but quickly started dropping. On OKX, it fell to $1.80, while on Bitget, it touched $1.78. Things got even crazier on Bitget, where Pi briefly spiked to $3.40 before crashing, and on Bybit, the price fell below $1 in no time. At present the token is trading at $1.33 closer to its launch price, recording a 24% drop in the last hour.
On the top, IOU trading (a kind of speculative market where people trade without actually holding the token) had Pi valued between $61 and $70. Now, with actual trading in place, the price is far lower, proving that speculation was way off the mark.
Who’s Listing PI and Who’s Holding Back?With the open mainnet finally here, several big crypto exchanges rushed to list PI, including OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget. However, Binance—the world’s biggest exchange—is still on the fence. Instead of listing PI immediately, Binance started a poll asking users if they wanted the token added. The poll runs until Feb. 27, but even if users vote “yes,” there’s no guarantee that Binance will move forward with the listing. Meanwhile, other exchanges like Coinbase, Kraken, and Upbit haven’t made any announcements regarding PI.
What’s Next for Pi?While Pi Network’s launch is a big step forward, the token’s price remains highly unpredictable. Many early miners have been holding onto their Pi for years, and if they start selling in large numbers, the price could drop further. On the flip side, if Binance and other major exchanges decide to list Pi, the demand could push prices higher.
Right now, Pi is riding the hype wave, but whether it stabilizes or remains a volatile asset is something only time will tell.
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FAQs
Why did Pi Coin’s price drop after launch? Pi Coin’s price dropped due to high speculative trading, early sell-offs, and market corrections after the initial hype of its open mainnet launch.
Which exchanges have listed Pi Coin?Pi Coin is listed on OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget, while Binance and Coinbase have yet to confirm listings.