The long -awaited Pi Network Mainnet launch led to a major price fluctuation on February 20. Initially, a strong rise experienced, in a short time, the price fell rapidly with a sudden sales pressure.
Pi Network Mainnet first caused the rally and then collapse
Following the open Mainnet announcement, the Pi Token gained 45 %in one hour and reached $ 2.10. At the same time, the transaction volume increased by more than 1,700 %and showed that speculative purchases accelerated.
However, this rise did not last long. Due to the intense wave of sales during the day, the price of Pi fell by more than 52 %to $ 1.01. This sudden decrease caused the market value to go down to $ 7.02 billion and increased concerns about the long -term price stability of the token.
The total supply of Pi Network is determined as 9.7 billion token, while the fully diluted market value (FDV) is about $ 83.07 billion. Experts warn that additional tokens to be released in the future can put pressure on the price depending on demand.
The future of the project maintains its uncertainty
Launched in 2019, Pi Network has reached millions of users thanks to the mobile mining system that does not require energy consumption. The open Mainnet launch is seen as an important step that will make the token more use in the real world.
However, uncertainties about the project continue. Critics think that problems such as non -net token economy, potential regulatory barriers and not being listed in large stock exchanges can limit Pi Network’s long -term success.
In addition, the legal and regulatory problems related to the project in the past increases the concerns of investors. Many large crypto exchanges rejected applications for listing Pi. Binance received 85 %positive results by applying for the voting of the community, but this support did not fully eliminate the uncertainties on the project.
Finally, the fact that it was described as fraud by some legal authorities in 2023 increases the question marks on the future of Pi Network.
