After years of anticipation, Pi Network is finally making its way to crypto exchanges, marking the end of its Enclosed Mainnet phase that began in December 2021. However, just hours before its Open Mainnet launch, Pi Coin suffered a shocking 98% price crash, dropping to just $1.25, according to CoinMarketCap.
What is Pi Network?
Pi Network, developed by Stanford PhD scholars, stands out from traditional cryptocurrencies by allowing users to mine Pi Coin using their mobile phones through social connections. This unique approach made it one of the most widely adopted crypto projects without yet being listed on major exchanges—until now.
For over three years, Pi Network has operated under an Enclosed Mainnet, meaning transactions were limited within its ecosystem. But with the launch of its Open Mainnet, crypto exchanges can now list Pi Coin, allowing it to be traded beyond the Pi community for the first time.
Massive Trading Volume Surge
Despite the dramatic price drop, Pi Coin has seen a major spike in trading activity. Data from CoinMarketCap shows that Pi Coin’s 24-hour trading volume surged by 148%, reaching $1.87 million. This suggests that investors are closely watching Pi Coin’s next moves, and its price could remain highly volatile in the coming days.
What’s Next for Pi Coin?
Now that Pi Coin is officially moving to an Open Network, its future largely depends on market adoption, exchange listings, and investor sentiment. While some see the recent price crash as a temporary dip, others are skeptical about whether Pi Coin can establish real-world value beyond its community-driven model.
