- Pi Coin plummets over 50% post-mainnet launch despite $1.2B trading volume and $4.45B market cap.
- Investors await potential Binance and Coinbase listings as scrutiny and community discontent grow.
Pi Coin experienced a sharp 50% price drop following the Pi Network’s mainnet launch, falling below $0.70. The token had surged to $2.00 during the initial excitement but quickly reversed as selling pressure intensified.
The daily trading volumes exceeded $1.2 billion. Despite the dramatic decline, the Pi Network maintains a market cap of $4.45 billion, with over 10 million users engaged in the ecosystem.
Community Reaction and Industry Scrutiny Intensify
The Pi community expressed frustration over the perceived undervaluation of the project upon launch. Crypto commentator Wood LightYear criticized the accessibility of cheap tokens, noting that early adopters invested significant time mining Pi Coin. Concurrently, Bybit CEO Ben Zhou rejected listing the token on his platform, citing scam concerns and highlighting unresolved credibility issues.
1. Here is a official police warning of $Pi from Chinese police back in 2023 warning to the public that it’s a scam targeted towards elderly folks https://t.co/LaGJqXSOXR which leaks their personal data and loss of their pension. There are multiple other reports out there… https://t.co/gkEu2wZwfo
— Ben Zhou (@benbybit) February 20, 2025
Zhou clarified that no listing request was made, refuting rumors while underscoring transparency gaps within the project. Chinese authorities also weighed in, issuing a public warning against Pi Network, pointing to potential risks for elderly investors. The Hengyang Public Security Bureau had previously flagged the project in 2023, emphasizing concerns over data privacy and financial stability.
Prospects of Exchange Listings Amid Market Turbulence
Despite the downturn, optimism persists among some market analysts regarding potential listings on top exchanges. OKX and CoinDCX have already listed Pi Coin, with ongoing efforts to secure listings on Binance and Coinbase. Analysts argue that such listings could enhance liquidity and credibility, potentially stabilizing prices.
Binance and Coinbase’s extensive user bases may attract wider investor interest if Pi Coin gains traction on these platforms. However, skepticism remains prevalent within the broader crypto community, with calls for thorough due diligence before any exchange listings.
Pi Network’s Market Position and Future Outlook
The Pi community’s enthusiasm has shifted to discontent following the coin’s dramatic decline. The recent open mainnet launch drew over 540,000 new users, highlighting significant global interest. Initially, one billion out of the total 9.7 billion PI tokens were made available, with the remainder set for gradual release.
Despite the price plummet, trading volumes have stayed robust, reflecting active market participation. The Pi token traded at $0.7369 at the time of writing, marking a 56.64% decline from its peak.
While some see potential in future adoption and utility, market volatility and regulatory scrutiny continue to shape Pi Coin’s journey in the evolving crypto landscape.In related news, the cryptocurrency market sees innovations such as the introduction of BBRL by Braza Group, a Brazilian real-pegged stablecoin on the XRP Ledger. This development aims to enhance financial inclusion and stability in South America, bridging traditional banking with the digital economy.
Pi Network, founded by Stanford graduates in 2019, aims to democratize cryptocurrency mining via smartphones. Its eco-friendly model contrasts with energy-intensive methods like Bitcoin’s. Still, the sharp price fluctuations highlight the risks of emerging digital assets.
