THE WAIT IS OVER! After six years of anticipation, Pi Network has finally launched its Open Network Mainnet today, February 20. While the launch sparked excitement among early adopters, the market’s reaction has been far from smooth.
The PI coin debuted at over $1, but intense sell-offs have already driven its price down by 15%. Meanwhile, the IOU version of PI has completely crashed, dropping a staggering 97% in the last 24 hours. What’s next for Pi Network and its ecosystem? Let’s break it down.
FROM ANTICIPATION TO REALITY: PI NETWORK GOES LIVE
Pi Network’s core team announced on February 12 that the Mainnet would go live today, marking a significant milestone for the project. The launch allows users—many of whom have been mining Pi for years—to finally access and trade their holdings.
However, concerns around KYC verification requirements had already sparked debates in the community. While some saw this as a step toward legitimacy, others worried about accessibility and restrictions.
Despite this, the official Pi Network account on X (formerly Twitter) confirmed the launch, stating:
“Pioneers, Open Network will launch at 8 AM UTC on February 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world applications like never before.”
This was meant to be a celebration, but the price action tells a different story.
HEAVY SELLING PRESSURE HITS PI COIN
Many early adopters who have been mining PI for years can now trade their tokens, leading to a wave of sell-offs.
PI coin started strong at over $1.47 but quickly dropped 15% as traders took profits.PI (IOU) token, which was traded as a placeholder before the mainnet launch, plummeted by 97%, reflecting the shift in market focus.
While some long-term supporters expected PI to surge post-launch, reality has set in—newly unlocked liquidity often leads to price corrections, especially in projects with large mining communities.
WHAT’S NEXT FOR PI NETWORK?
PI’s maximum supply stands at 100 billion tokens, with:
65% allocated to miners10% for ecosystem growth5% for liquidity20% reserved for the core team
However, only 9.7 billion PI is currently in circulation. If more tokens become available, the selling pressure could intensify, pushing prices lower.
The big question now is whether Pi Network can transition from hype to real-world adoption. Will businesses integrate PI into their systems? Will the demand for PI outweigh its supply? These factors will determine if PI remains relevant in the long run.
FINAL THOUGHTS
Pi Network has finally made it to Mainnet, but the price action shows that early adopters are cashing out fast. Future adoption will be the key to determining PI’s long-term success.
For now, the market is in price discovery mode—traders are watching closely to see whether Pi Network can turn its years of anticipation into sustainable growth.
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