Pi Coin is listed on the exchange, the price is much lower than the black market and is constantly fluctuating

The Pi Network fever in Vietnam seems to have reached its peak when this virtual currency officially "went public" at 3:00 p.m. on February 20. However, Pi's debut was full of drama and not without big question marks.

Accordingly, right after being listed with the PI/USDT trading pair, the price of Pi has fluctuated constantly. From a peak of over 2 USDT, the price quickly plummeted to 1.4 USDT, and then fluctuated around 1.6 USDT (as of 16:45).

Previously, on the morning of February 12, the Pi Network development team shared about the official transition to the Mainnet Open Network at 08:00 UTC (ie 15:00 Vietnam time). Since this announcement, Google Trends has recorded a gradual increase in searches for the topic of Pi Network. At the same time, the number of searches related to this keyword has also reached its highest level since the Pi Network project was announced.

Previously, Pi users could only "mine" Pi by checking in daily on the Pi Network app and speeding up mining by referring others to join. Pi transactions mainly took place internally within groups of players with values ​​agreed upon by the parties themselves.

However, with this network opening move, Pi Network has reached more than 10.14 million Mainnet transfers and has more than 19 million users who have completed identity verification. This Open Network phase will help Pi expand its connectivity with external blockchain systems, facilitating users to participate in transactions outside its ecosystem.

The listing of Pi has caused a lot of controversy in the cryptocurrency community. Some experts believe that major exchanges are listing Pi mainly for the purpose of promoting and attracting tens of millions of users of Pi Network.

While exchanges like OKX, MEXC, Gate, and Bitget were quick to list Pi, Bybit took the opposite approach. Bybit CEO Ben Zhou flatly refused and expressed concerns about the project on social media X.

Currently, the world's leading exchange Binance is holding a community vote (taking place from February 17-27) to decide whether to list Pi or not. This means that, even if approved, Pi will be listed on Binance later than other exchanges.

Lesley Montoya

Update 23 February 2025