Pi Network Coin plummets 62% post-listing. What triggered the sell-off? Early miner cashouts, missing Binance listing, and concerns over real-world utility. Here’s the full analysis.
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Key Takeaways:
- Pi Network Coin dropped 62.63% in value a day after its long-awaited listing, currently trading at $0.737, down from $1.97.
- Early miners selling off, lack of a Binance listing, and concerns over real-world use cases contributed to the decline.
- Over 110 million users are engaged in Pi mining, making it one of the largest crypto communities.
- Analysts remain divided—some predict recovery, while others believe Pi lacks true adoption.
What’s Behind Pi Network Coin’s 62% Fall?
Pi Network Coin made headlines with its much-anticipated exchange debut. However, just 24 hours after listing, the coin’s value crashed by 62%. What triggered this sharp decline? Let’s break it down:
Early Miners Cashing Out
For years, Pi Network has allowed users to mine tokens for free on their smartphones. With its listing finally live, many long-time miners seized the opportunity to cash out and take profits.
🔹 Crypto analyst Kim H Wong shared his views on X:
“Pi pioneers keep selling, and buy orders are small. No big capital in sight. But once sellers exhaust, buyers may jump in.”
While early sell-offs are natural, a lack of strong investor demand has put downward pressure on Pi’s price.
No Binance Listing—A Major Setback?
Despite being listed on OKX, CoinDCX, and Bitget, Pi Network has yet to be listed on Binance, the world’s largest crypto exchange. This missing Binance listing means Pi lacks:
- Liquidity: Binance provides deep liquidity and exposure to millions of investors.
- Credibility: Many institutional investors view Binance listings as a quality benchmark.
🔹 However, Binance recently hinted at evaluating Pi, leading to speculation that a listing could still happen.
Limited Real-World Utility
Unlike Bitcoin (BTC) or Ethereum (ETH), which have thousands of decentralized applications (dApps) built on their networks, Pi’s ecosystem remains underdeveloped.
🔹 Critics argue that Pi’s infrastructure is lacking:
- The Pi Browser and Pi Wallet exist, but few dApps are built on Pi’s blockchain.
- Pi Network needs more real-world adoption beyond speculation.
Bybit CEO Calls Pi a ‘Scam’
Adding fuel to the fire, Bybit CEO Ben Zhou publicly denounced Pi, stating that:
“Bybit will not list scams.”
This statement has damaged Pi’s reputation, discouraging some investors from entering the market.
What is Pi Network? A Quick Overview
Pi Network launched in 2019 by a group of Stanford graduates. Unlike traditional cryptocurrencies that require expensive mining rigs, Pi can be mined directly on a smartphone.
🔹 How Pi Mining Works:
- Download & install the Pi Network app.
- Tap the lightning bolt icon once daily to mine.
- Add trusted contacts after 3 days to boost mining rate.
- Refer friends for extra mining rewards.
Pi’s mobile-friendly mining has attracted over 110 million installations, making it one of the most widely adopted crypto projects.
Why Is Pi’s Mainnet Launch Significant?
For over 10 million users, Pi’s mainnet launch was a long-awaited event. Until now, mined Pi coins were trapped in the Pi ecosystem. With the launch, users can now:
- Trade Pi on exchanges like OKX and Bitget.
- Move Pi assets to external wallets.
- Engage in transactions beyond the Pi ecosystem.
However, the launch has also exposed weaknesses, with the lack of investor demand leading to heavy selling.
Pi Network’s Price Outlook: What’s Next?
Despite the sharp drop in price, some analysts remain optimistic:
🔹 Fortune India’s Crypto Report: Predicts that Pi could exceed $500 by 2030 if adoption grows. 🔹 Skeptics:Believe that without major real-world use cases, Pi may struggle to gain traction.
What’s Next for Pi Network?
The road ahead for Pi remains uncertain. While the mainnet launch was a big milestone, Pi Network must now:
- Secure a Binance listing to boost credibility.
- Expand its ecosystem to include real-world use cases.
- Attract institutional investment to counteract miner sell-offs.
For now, Pi’s future depends on whether it can transform from a speculative asset into a widely adopted digital currency.
FAQs: Pi Network Explained
1️⃣ Why did Pi Network Coin crash 62%?
- Early miners sold off their holdings after years of accumulation.
- Missing Binance listing limited liquidity.
- Lack of real-world applications reduced investor confidence.
2️⃣ Where can I buy Pi Network Coin?
Pi Coin is currently available on OKX, Bitget, and CoinDCX. A Binance listing has not been confirmed yet.
3️⃣ Can Pi Coin recover in value?
Some analysts believe Pi has long-term potential if its ecosystem grows. However, it needs major adoption beyond speculation.
4️⃣ How does Pi Network mining work?
Pi can be mined for free via a smartphone by tapping a button daily.
5️⃣ Will Binance list Pi Network Coin?
Binance has not confirmed a listing, but recent social media hints suggest they are evaluating it.
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