Pi Network has launched its mainnet and is now trading on various exchanges. Despite a total supply of 100 billion, only around 9.7 billion Pi Coins are currently in circulation. After reaching a peak of over $2, the coin’s value has significantly decreased to $0.64, marking a drop of more than 55% as traders rush to sell their holdings.
How is the Market Reacting to This Decline?
Pi Coin has been introduced on the OKX exchange, yet it remains absent from Binance, the largest platform. Binance has indicated that specific requirements must be satisfied for Pi Coin to be listed, which could lead to a potential price increase if met.
Can Pi Network Rebound from This Situation?
Market commentator Kim Wong has noted that the trading volume for Pi Coin is low, with significant selling pressure and limited buying activity. However, he suggests that this could signal a nearing exhaustion of sales, paving the way for a potential price recovery as buyers return.
Key takeaways include:
- Pi Coin’s price has dropped sharply, prompting a sell-off.
- Binance’s potential listing could influence future price movements.
- Wong advises holding onto Pi Coins for potential gains.
- The success of Pi Network hinges on real-world applications and business adoption.
The creators of Pi Network assure users that their platform is both functional and accessible, offering secure transactions through the Pi Wallet. However, wider adoption and real use cases are essential for long-term stability in the coin’s economy, helping to avoid hyperinflation and maintain a stable market position.
