In Summary
Pi Network’s mainnet launch on February 20th did not meet the high expectations, with disappointing trading activity and low volume.
Analyst Kim Wong noted that despite the lack of capital inflows, PI’s price could rise as large investors enter the market.
Pi Coin’s price dropped 46% after the launch, causing disappointment within the community due to a lower-than-expected valuation.
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After Pi Network’s highly anticipated mainnet launch on February 20, 2025, cryptocurrency analyst Kim Wong expressed disappointment with the project’s trading performance. Despite garnering significant attention and high expectations surrounding the mainnet launch, PI’s trading activity fell short of expectations.
Pi Network’s Performance Misses Expectations
Wong took to X (formerly Twitter) to express his dissatisfaction.
“Pi trading is disappointing as pioneers are constantly selling and buy orders are small,” he stated.
Wong highlighted the lack of substantial capital inflows. He noted that while the highest observed trading volume was around 1,000 PI, the average was only a few hundred PI per trade.
However, the analyst pointed out a potential bright spot. He explained that once sellers exhaust their holdings, the market could see a shift as demand outpaces supply. This could drive the price higher.
‘The price will rise when large capital jumps in,’ he stated.
Wong also emphasized that Pi Network’s mainnet launch was a significant milestone that lays the foundation for future growth. He had previously defended Pi Network against critics, highlighting its real-world applications and scalability.
However, Wong’s comments sparked mixed reactions within the Pioneers community. Some early adopters pointed out that long-term holders have locked up their supply for years.
Don’t say pioneers. I was one of the first 50 miners of PI. Thank the newcomers in the past year who bought supply from others,” one user responded.
Others expressed continued skepticism, questioning the fairness of the project’s token distribution.
“The founders reserved 20 billion coins for themselves, right? They are billionaires, and what are you? The only winners are the founders. Just like everyday life, nothing changes at the top,” another user posted.
Pi Coin Price Drops After Launch
Meanwhile, the poor trading performance has impacted the price of Pi Coin (PI), which had already been struggling prior to the launch. Despite the high-profile nature of the mainnet launch, PI was listed on OKX with a floor price of $2. This caused disappointment among users who had hoped for a higher valuation
It is clear that every Pioneer is disappointed with the listing price and not happy at all! What was the purpose of mining or even having the app if any person can get 3,000 Pi coins for $3,000 from CEX!?” wrote Dr. Picoin, an ardent supporter of the project.
He emphasized the need for the Pi Core Team to re-evaluate the consequences and impact of the listing price on the Pi community. However, he remained optimistic about the project’s long-term prospects.
“I still see great potential in this project. I have thoroughly researched the Pi Blockchain, and it works very well with a lot of promise,” he remarked.
While the Pi community maintains optimism about the project’s potential, the market response has been less favorable
The price has dropped 46% in the past 24 hours. At the time of writing, PI was trading at $0.68. In comparison, similar smart contract platform cryptocurrencies have risen by 1.30%, which indicates PI’s underperformance in the market.
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