Pi Network Open Mainnet: Market Reactions and Current Trends Ahead of Launch

• Pi’s Open Network is scheduled to launch on February 20, 2025
• Bybit CEO has rejected requests to list Pi Network, he expresses his concerns over potential controversy and his past experiences with investors 
• Pi network coin crashes 21% after hitting $100  

Pi Network finally set a launch date for Mainnet, which would allow users to mine Pi coins. The news was shared on their official website that the Pi Network will fully move to its Open Mainnet phase on February 20, 2025, at 8:00 AM UTC.

Over the last six years, the the Pi community has been consistent in pursuing the dream of creating an accessible peer-to-peer driven network and digital ecosystem, that is powered by its native asset, Pi.

 With a good number of KYC-verified members and a flourishing ecosystem centered on utilities, the Open Network is set out to open up more possibilities, enabling Pioneers to integrate Pi into external platforms for real-world use like never before.

Market Response to Pi Network’s Open Mainnet Launch

However, not everyone shares Pi’s Vision. On Wednesday, Ben Zhou, CEO of Bybit, shared a post on X (formerly Twitter) about how he had been approached several times about listing Pi Network on Bybit. Instead of considering the suggestion, he dismissed it, sharing his previous encounters in the forex market where upset investors whose investments probably went sideways would contact him over their losses. 

Zhou’s dismissal of Pi goes beyond a sidestepping conflict; it suggests a deeper doubt regarding the credibility of the project. Despite this controversy, Okx, another exchange platform, has decided to move forward with Pi, proving that not all exchanges are afraid of a little drama!

OKX announced the listing of the Pi Network token (PI) on its spot trading platform. PI deposits opened on Feb 12 at 2:45 am UTC, and spot trading for the PI/USDT pair will go live on Feb 20 at 8:00 am UTC. 

With OKX moving ahead, other platforms appears more cautious about listing Pi Network. Colin Wu reports that Bitget has also pulled some of its Pi related promotional material after initially supporting.

Pi Network’s Pi coin falls by 21% within 24 hours

The past 48 hours have been a wild ride for Pi Network’s PI/USDT. The token surged to $100, driven by heavy speculation and within the last 24 hours, price has dropped by 21% currently priced at $61.77. 

             source: coinmarketcap

This decline came as a result of Bybit CEO Ben Zhou’s decision not to list Pi, stating that he had some concerns regarding the project. His statement was very confusing to the investors, hence causing the prices to drop sharply.

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