Pi Coin, the digital currency of Pi Network officially launched at 8 a.m. UTC today and immediately got listed on major exchanges including OKX and Biget.
The coin was listed at an initial price of $1.4 and quickly surged with some platforms recording a high 71.4% to $2. But right now, the price has lost 42% and is now traded at $0.9.
However, the trading volume is still up by an incredible 2145% to $780 million with most of the transactions coming from the OKX exchange.
The Pi network is a project that has been running for over 6 years now. It allows users to mine coins using a mobile app. With the Mainnet live now, the user who has done their KYC verification can move their Pi coin to the new blockchain, and use it for payment and transactions.
This is an achievement for the Pi community but still, the price dropped, which is happening just a few hours after the launch is causing some investors to panic.
Few early pioneers had high hopes that the price would surge to $100 or $500. However, today’s value is very much lower than what they anticipated.
One user on X didn’t stop to let out his frustration. He tweeted “I will not sell my $PI coins, which I have worked for 6 years, for a ridiculous price like $2 dollars. $XRP is over $2.5 with a 60B supply. These prices are ridiculous with a 100M supply. I will not sell without 1 $PI = $50”
Some believe that Pi Coin will get more valuable in time, especially once more companies use it as payment. Some investors remain optimistic, pointing out that Pi’s market cap nearly entered the top 10 and could rise even further once staking is introduced.
The sudden price drop has brought controversy over the future of Pi. While others believe it is a long-term project with enormous potential, others question whether Pi Coin will hold its value or continue to change. For now, the future is uncertain.
Also Read: Pi Coin is now trading on 9 Crypto Exchanges: Check Live prices
