After more than six years of development, the Pi Network cryptocurrency project has officially entered the Open Network (Mainnet) phase, allowing users to trade on major exchanges.
This afternoon (20/2), the Pi Core Team (PCT) announced: "The pioneers, the Open Network has been launched, marking a decisive step towards the decentralized era, integrating a vast blockchain ecosystem".
With the "Open Network", participants are allowed to trade and connect with the external blockchain ecosystem. However, PCT emphasizes that they "are not responsible" for transactions outside the Pi ecosystem.
In addition to verifying individual identity (KYC), PCT has started verifying business identity (KYB). Currently, only three exchanges - OKX, Bitget and gate.io - have been confirmed by PCT to have completed the KYB process.
"Only businesses that have completed KYB verification are eligible to create Pi mainnet wallets, which helps reduce the risk of illegal activities and ensure trust", PCT emphasized.
Immediately after the Open Network launch, Pi started being listed on some exchanges from 3 PM, with an opening price of $2/Pi. However, the price quickly plummeted below $1, before recovering to $1.6 and then stabilizing around $1.1.
Many users expressed disappointment with this price level. "After 6 years of waiting, this price really does not meet expectations", an investor commented.
Previously, the Pi community expected a high price, even proposing a "consensus price" from $500 to $1,000/Pi, and some even expected the Pi price to reach $314,159. However, according to OneSafe, these figures are completely "unrealistic".
Thế Anh, an administrator of a Pi mining group since 2020, commented: "The current price reflects the nature of the project to some extent. As Pi continues to be distributed, the price may still decline". He also warned about the possibility of "Dump" in the near future, as has happened with many other cryptocurrency projects.
Even though the Open Network has been launched, Pi Network has not yet announced smart contracts and important features on GitHub have not been updated. The future of Pi is still a big question mark in the cryptocurrency market
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
Join Telegram: https://t.me/tapchibitcoinvn
Twitter (X): https://twitter.com/tapchibtc_io
Tiktok: https://www.tiktok.com/@tapchibitcoin
Youtube: https://www.youtube.com/@tapchibitcoinvn
Ông Giáo
