Pi Network faces selling pressure on its digital currency after official launch. Market remains uncertain despite excitement.
After six years of waiting, Pi Network has finally launched officially, but its digital currency, Pi (PI), is experiencing significant selling pressure. Despite the initial excitement in the user community, the price of this digital currency dropped by about 15% after the mainnet launch, while its IOU token faced a 97% decline. Major exchanges like OKX and Gate.io have activated spot trading for this currency, and Binance has added to market excitement by surveying its users about accepting this currency. Out of a total of 100 billion Pi units, only 9.7 billion are in circulation, with 65% of the total supply allocated to miners. Despite the significant milestone of the mainnet launch, the long-term future of Pi currency remains uncertain.
