The launch of the Pi Network Mainnet was evidenced by the surge in the price of the PI coin during the top listings from the leading crypto exchanges.
With an influx of market participants closely monitoring its price, the most recent Pi Network Mainnet launch has taken the market by storm. Notably, the cryptocurrency has risen above $100 before launch and is now trading at $1.28. Investors were also drawn to a flurry of significant listings during this eagerly anticipated platform milestone.
Highlights of the Pi Network Mainnet Launch
The Pi Network Mainnet Launch happened today at 8 a.m. UTC as planned. Remarkably, over 10 million users are reportedly waiting for this launch to transfer their PI holdings to the mainnet after completing their KYC.
Although Pi Network has started trading, only about 1 billion of the 9.7 billion tokens are expected to be accessible now. Over the ensuing months or years, the remaining tokens will be locked in users’ wallets.
Notably, a price spike may result from this restricted supply and the high demand from leading cryptocurrency exchanges. Due to the limited supply of tokens, market players closely monitor the cryptocurrency’s performance in anticipation of possible price increases.
What Comes After the Mainnet Launch of the Pi Network?
Next week, Pi Network will start an Open Network Challenge in honor of Open Network. Through interactive tasks and rewards, pioneers could discover more about Open Network and the ecosystem.
Pi Network’s goal to develop an inclusive, utility-driven, and widely used cryptocurrency has reached a significant milestone with this development. Open Networks will significantly influence the blockchain environment as it develops further.
Major Crypto Exchange Listings Boost Confidence
Numerous prominent cryptocurrency exchanges have endorsed Pi Network. For background, the token’s pre-listing trading was introduced by the MEXC exchange and has been well received by market players. Other prominent cryptocurrency exchanges announced they would list the token shortly after the Pi Network Mainnet launch.
Shortly after launching its mainnet, OKX announced that the PI/USDT pair would be available for spot trading on its platform. Additionally, Bitget strengthened market sentiment by listing Pi/USDT Futures on its platform.
Price Of The Pi Network
When the mainnet launched, the price of the PI Network was about $1.3, but it quickly shot above $2, demonstrating the strong investor demand. The cryptocurrency was trading at $1.87 and up roughly 46% at the time of writing. The token’s trading volume skyrocketed to $118.86 million.
Nevertheless, despite the successful launch, investors should do their research because the PI price is highly volatile. Furthermore, a recent report identifies three significant risks for PI that could affect its value in the days ahead.
