Pi Network Mainnet Launch Turns Into a High-Volatility Event, Raising Doubts About Long-Term Stability

Pi Network’s long-awaited mainnet launch has turned into a high-volatility event, with its Pi token experiencing sharp price swings.

Pi Network's mainnet launch has brought extreme volatility to its Pi token, with its price crashing over 50% within two hours of launching. Despite high trading volumes, liquidity concerns are impacting the token's price stability.

Pi Network's mainnet launch has experienced wild price swings, with its Pi token experiencing sharp price movements. The token started at $1.70, briefly surged to $2.00, then crashed over 50% within two hours. It now trades around $0.6596 — 66.56% down from its all-time high (ATH).

The price swings come as the token is trading at a high volume. According to CoinGecko, Pi has a 24-hour trading volume of over $1.2 billion, with OKX being the most liquid exchange for the token, boasting a 2% market depth of just $33,000 to $60,000. This means a $100,000 trade could cause major price fluctuations, indicating low liquidity in the market.

Some believe it's the next big thing, while others fear it could end up as another overhyped project. With wild price swings, community backlash, and a controversial mining model, Pi's mainnet debut is anything but smooth. So, what's really going on? Let's break it down.

Pi Coin Red Flags to Watch Out For

Despite being valued at a staggering $195 billion, Pi Coin is facing liquidity problems. Crypto exchanges are struggling to handle the large volume of Pi token trades due to its low liquidity. Even OKX, the most liquid exchange for Pi, has a 2% market depth of just $33,000 to $60,000. This means a $100,000 trade could cause major price fluctuations, making the market highly unstable.

Pi Network operates a smartphone-based mining system that requires an invitation to join. It also rewards users for referrals, drawing comparisons to multi-level marketing (MLM) schemes. Similar to SafeMoon, early adopters seem to be benefiting the most.

Since launching in 2019, Pi Network has grown to 60 million users. Now that the mainnet is live, users can trade their tokens – but low liquidity is making price stability a challenge.

To counter selling pressure, Pi Network is offering a token lock-up program. Holders can lock their tokens for up to three years in exchange for higher mining rewards. However, this strategy is similar to what HEX did—a controversial project that lost over 99% of its value between 2021 and 2024, leaving many locked tokens worthless.

Will Binance and Coinbase Listings Boost PI?

Despite the early setbacks, some market analysts are optimistic about Pi's potential. Crypto exchanges like OKX and CoinDCX have already listed Pi, and there's a push to get it listed on major platforms like Binance and Coinbase. If these exchanges support Pi, increased liquidity and credibility could drive a price recovery.

Pi Community is not Happy

Following the rapid price swings, some long-term Pi supporters are not happy. Crypto commentator LightYear criticized the launch, stating that new buyers got easy access to tokens that early users spent years earning. This shows that people worry the listing has gone against Pi’s main idea of rewarding users for their time and effort.

While the future of Pi remains uncertain, all eyes are on whether major exchange listings can stabilize its price and bring back investor confidence.

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FAQs

While OKX and CoinDCX list Pi, Binance and Coinbase have not confirmed support. Increased liquidity could boost its market credibility.

Pi’s high volatility, liquidity issues, and uncertain exchange listings make it a risky investment despite its large user base.