Pi Network Performance Underwhelms After Mainnet Launch
Cryptocurrency analyst Kim Wong expressed disappointment at the project’s trading results following the highly anticipated release of PI Network’s Mainnet on February 20.
Despite the great attention and high expectations surrounding the mainnet launch, PI’s trading activity has not reached the hype.
PI network performance is not expected
Huang QuX (formerly Twitter) expressed his dissatisfaction.
“The Pi deal was disappointing as pioneers continued to sell and buy orders were small.” explain.
Wong highlighted Lack of large capital inflows. He noted that while the highest observed trade volume was about 1,000 pi, the average was just one Each transaction has hundreds of PIs.
Nevertheless, analysts pointed to potential silver linings. He explained that as sellers run out of holdings, the market may see a shift in demand over supply. This may drive higher prices.
“When big capital jumps in, prices will rise,” he said.
Wong also quoted the attention of PI Network Mainnet launch is an important milestone This lays the foundation for future growth. He has Previously defended against critics for PI networks, Highlight its practical application and scalability.
Nevertheless, Huang’s comments sparked different reactions from pioneers. Some early adopters stressed Long-term holders have locked in their supply for many years.
“Don’t talk about the Trail Blazers. I’m the top 50 miners for PI. Thanks to newbies who came last year and bought supplies from others,” the user said. answer.
Others expressed continued suspicion, questioning the fairness of the project’s token distribution.
“Did the founders have 20 billion coins for themselves right? They are billionaires, what are you? The only winner is the founder. Just like there is nothing changed in daily life,” another user Posted.
PI coin price drops after it is issued
Meanwhile, trading performance was flat, affecting the price of Pi Coin (PI), which has been struggling before it was released. Despite the high-profile nature of Mainnet launches, PI is still OKX floor price is $2. This caused frustration among users Hope to get a higher valuation.
“It’s obvious that every pioneer is disappointed with the listing price and not happy at all! If any random person can get 3,000 PI coins from CEX for $3,000, the meaning of mining or even owning the app is What!?” Write Dr. Picoin, a vocal supporter of the project.
He stressed that there was a need PI core team reevaluated The consequences of listing prices and the impact on the PI community. However, he remains hopeful about the long-term prospects of the project.
“I still see the huge potential of the project. I’ve been working closely on the PI blockchain and it’s working very well,” he said. Famous.
Although the PI community remains optimistic about the potential of the project, the market’s response is not unfavorable.
Prices have dropped by 46% in the past 24 hours. At the time of writing, the PI trades at $0.68. In contrast, similar smart contract platforms cryptocurrencies grew by 1.30%, highlighting the poor performance of PI in the market.
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