Pi Network's price plummets uncontrollably.

(NLĐO) - Immediately after listing on the exchange, the price of Pi fluctuated sharply, falling from $2 to $1.20, then rising slightly before plummeting again.

Less than 24 hours after its official mainnet launch and listing on several cryptocurrency exchanges, Pi Network's price plummeted from its initial price. As of 7:30 AM on February 21st, Pi Network, or Pi Coin, was trading in the range of $0.7-$0.8 USD, a decrease of approximately 60% compared to its price of $2 USD at 3 PM on February 20th, the time the token was first listed.

On the OKX exchange, Pi is currently trading at $0.86; on the Mexc exchange at $0.89/pi and on the Bitget exchange at $0.87.

Pi Coin price this morning, February 21st.

Amidst the decline in Pi prices, many Pi users expressed disappointment. Thanh Tan, an office worker in Ho Chi Minh City who holds nearly 10,000 Pi tokens, said he thought the price would rise from $2 to $4-5 per token immediately after listing due to buyers rushing to accumulate them, but unexpectedly, Pi dropped sharply below $1.

"It's quite upsetting to see Pi drop sharply in less than 24 hours. Now that Pi has fallen so much, I'm wondering whether I should sell or not. Holding on risks further drops, but selling and then seeing the price rise again would be a waste," said Mr. Tan.

Similarly, Mr. Hoang, residing in Thu Duc City (Ho Chi Minh City), also said he was surprised by the rapid drop in Pi prices, from 2 USD to below 1 USD.

Pi price on OKX exchange

"When a cryptocurrency is first listed on an exchange, its price tends to increase due to strong buying demand. Meanwhile, Pi has dropped sharply," Mr. Hoang shared.

Despite the negative reactions, many "Pi users" in Pi communities are very positive.

Huynh Huy's account stated that Pi's price has dropped, but anyone who wants to sell, he will finalize the deal at 1x,000 VND. "Although this price has decreased from 5x,000 VND/pi to 1x,000 VND/pi, it is still more attractive than the price on the exchange."

A user named PH wrote in the Pi Network group, which has over 166,000 members, that Bitcoin, which was once worth $0.01, has now risen to $100,000.

As for Pi, it's expected to drop sharply after listing on exchanges, but it's perfectly normal for it to reach $1,000/pi later on.

However, according to cryptocurrency experts, cryptocurrency traders should not rush into trading Pi at this time because it is very risky, as the bottom is not yet clear. "Be careful when buying Pi right now because the price is uncertain. It will probably continue to fall as Pi has already dropped sharply after listing on exchanges," this expert said.

In the cryptocurrency market, Bitcoin (BTC) is currently priced at $98,000/BTC, up 1.8% over the past 24 hours, BNB is priced at $653/BNB, and Ethereum (ETH) is priced at $2,732/ETH...

Source: https://nld.com.vn/pi-network-tut-gia-khong-phanh-196250221082018321.htm