Pi Network's Mainnet Launch: A New Era for Crypto Accessibility

The Pi Network, a highly anticipated cryptocurrency project, successfully launched its open mainnet on Feb. 20, 2023, at 8 am UTC. The launch marked a significant milestone for the project, which has been in development for over six years and has operated in an enclosed mainnet since 2021. With the mainnet launch, Pi community members, known as pioneers, can now trade their Pi coins, while developers on the network can showcase their work to a global user base.

The Pi Network's mainnet launch was eagerly awaited due to its scale and accessibility. Unlike traditional proof-of-work networks, Pi enables users to mine PI via a mobile application, making participation accessible to a global audience. This accessibility has driven massive adoption, with millions of users engaging with the network even before its official launch. At its peak, the project boasted over 50 million users, and it currently has over 3.8 million followers on X, more than the Ethereum Foundation and other major networks.

As soon as the Pi mainnet went live, several centralized crypto exchanges, including OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget, listed Pi coin (PI). Meanwhile, Binance, the world's largest crypto exchange, conducted a poll on whether it should list PI, which will run until Feb. 27. Other prominent exchanges, such as Coinbase, Kraken, and Upbit, have not confirmed whether they will list Pi Network's coin.

Following its listing on crypto exchanges, Pi Coin saw significant volatility. Per data from CoinGecko, PI was up 36.8% within the first hour after securing multiple listings, hitting a high of $1.97. At press time, Pi Coin was trading at $1.8 on OKX and $1.78 on Bitget, marking a steep drop from the speculative IOU prices of $61 to $70 seen just a day before the mainnet launch. The altcoin briefly surged to $3.4 on Bitget before quickly retracing to its current levels, while on Bybit, PI's price fell below the $1 mark shortly after trading commenced.

Despite the initial volatility, Pi Coin could see further gains as its large community base and newcomers looking to cash in on the hype continue to accumulate the token. The