Pi Network Mainnet Launch Triggers Volatile Price Swings

Pi coin experiences extreme price fluctuations following the launch of Pi Network’s Mainnet, initially soaring before plunging over 52% within hours, raising questions about its future stability.

The long-anticipated launch of Pi Network’s Mainnet has sent the value of its native cryptocurrency, Pi coin (PI), on a dramatic ride. Initially, PI surged by 45% to a peak of $2.10 but later plummeted to $1.01, erasing its gains within hours.

Pi Network, a project that allows users to mine coins via a mobile app without energy-intensive hardware, has attracted millions of users since its inception in 2019. The launch of its Open Network is set to integrate Pi with external blockchain networks, facilitating transactions beyond its ecosystem. According to the official team statement, this transition enhances Pi’s real-world utility and expands its adoption potential.

The Open Network phase enables wallet transfers, exchange listings, and the deployment of decentralized applications (dApps), paving the way for broader market integration. Pi Network’s statement emphasized that this move aligns with its mission of creating an accessible and widely used digital currency.

Pi Coin Price Crashes
Following the Mainnet announcement, PI’s price skyrocketed by 45% within an hour, with its 24-hour trading volume surging by 1,775.4%, according to CoinMarketCap. However, enthusiasm was short-lived as the coin suffered a dramatic 52% drop, settling at $1.01. Its market capitalization also declined to $7.02 billion.

Pi coin’s Fully Diluted Valuation (FDV), based on its total supply of 9.7 billion, currently stands at $83.07 billion. However, market analysts warn that the disparity between its FDV and circulating supply could lead to further price declines unless demand significantly increases.

On the Flipside

• With a supply of 9.7 billion, Pi coin’s market valuation remains considerably lower than its potential, raising concerns about future dilution and price pressure.

Why This Matters
Pi Network differentiates itself with its energy-efficient, mobile-first mining model and strong community-driven approach. The Mainnet launch is a critical milestone in its development, potentially positioning it for mainstream adoption and real-world applications.

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