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Coinpaprika 2025-02-21 08:43:21

Pi Network’s Mainnet Launch Disappoints as Trading Struggles, But Experts See Future Potential

Pi Network’s much-awaited Mainnet launch has not met expectations, with disappointing trading activity and lower-than-expected volumes. Analyst Kim Wong noted that while the launch generated significant buzz, actual trading has been underwhelming. Despite hopes for strong price performance, Pi Coin’s value took a sharp decline after going live, leaving many investors frustrated. Wong expressed his concerns on X (formerly Twitter), pointing out that pioneers are mainly selling while buy orders remain small. He observed that the highest trading volume reached only around a thousand PI, with most trades being just a few hundred. He also highlighted a lack of large capital inflows , which has contributed to weak market activity. However, Wong remains optimistic about the future, suggesting that as sellers exhaust their supply, demand could eventually surpass available coins, potentially leading to a price increase. “Prices will rise when major investors step in,” he said. He emphasized that the Mainnet launch was a crucial step forward, providing a foundation for future growth. Wong has previously defended Pi Network against skeptics, citing its scalability and real-world use cases. Despite this, his comments sparked mixed reactions among the Pi community. Some early adopters disagreed with his generalization, pointing out that many long-term holders had already locked their tokens. “Don’t blame all pioneers. I was one of the first 50 miners of PI. It’s the new users who bought from others,” one user responded. Others voiced concerns about the fairness of token distribution, arguing that the project’s founders secured an enormous share for themselves while everyday users saw little benefit. One critic stated, “The developers set aside billions of coins for themselves. They’re billionaires now, while regular users get nothing. Just like in real life, the rich stay at the top.” Meanwhile, Pi Coin’s weak trading debut has affected its price performance. Before the Mainnet launch, PI was already struggling, and upon listing, it opened at a lower-than-expected price, leading to disappointment among users. Many had anticipated a higher valuation, believing their mining efforts would translate into significant returns. “It’s clear that every Pioneer is unhappy with the listing price,” said Dr. Picoin, a strong supporter of the project. He questioned the purpose of mining when new users could easily buy large amounts of Pi for a low price. He urged the Pi Core Team to reassess the impact of the listing price on the community. Despite these setbacks, Dr. Picoin remains hopeful about Pi Network’s potential. “I have been studying the Pi Blockchain closely, and it works impressively well,” he said, noting that the project still holds massive potential . However, market sentiment remains negative, with Pi Coin’s price continuing to drop. While similar blockchain projects have seen slight gains, Pi has significantly underperformed, highlighting the challenges it faces post-launch.

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