When is Pi Network Mainnet Launch Date? Everything You Need To Know
Due to recent exchange listings, the price of PI Network reached $80 on Saturday. Can bulls maintain their positions before the February 20 mainnet launch?
Key Takeaways：
- On Friday, February 13, the price of Pi Network crossed the $80 threshold, increasing 20% over the course of the week.
- The spike was mostly triggered by Pi Network’s recent listing on Bybit and Binance.
- According to technical indications, bull traders are trying to hold onto their positions in anticipation of the Mainnet Launch.
On Friday, February 13, the price of Pi Network approached the $80 level as the favorable sentiment surrounding its launch on Bybit and Binance generated 20% weekly gains. Is it possible for bull traders to hold onto their holdings before the next Mainnet Launch?
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Pi Network Price Returns to $80 Amid Listings on Binance and Bybit
Recent listings on prominent exchanges including as Binance and Bybit have contributed to a 20% price increase for Pi Network (PI) this week, bringing its price close to $80 on February 16th. Despite wider market volatility due to hotter-than-expected U.S. inflation figures, this represented a 20% gain inside a week.
The much-anticipated exchange listings brought more liquidity and ease of access to traders, so investor sentiment around Pi Network was strong despite macroeconomic difficulties. An important milestone for the project, the full mainnet activation of the network is widely anticipated, and the price gain reflected the heightened anticipation surrounding this event.
The listing of Pi on Binance was especially noteworthy because the market dominance of Binance is typically seen as a validation signal for new digital assets. In addition, the fact that it is available on Bybit, a site mostly focused on derivatives, indicates that traders are getting ready for increased volatility in the weeks to come.
According to CoinCodex, PI price increased 20% in the seven days following the listings on Bybit and Binance, while trading volume increased 60% in the first 48 hours. On the other hand, investors fled the broader cryptocurrency market in fear of further rate hikes by the Federal Reserve and sustained inflation.
Although the recent price increase is good news for early users, PI will face its real test after the mainnet launch, when the network will be fully operational with an open ecosystem.
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Holders to Preserve Positions Prior to the Mainnet Launch Date of Pi Network
As the actual debut of Pi Network draws near, many are wondering what the pricing will be once it is completely opened.Thanks to its mobile mining methodology, the project has garnered a lot of attention and attracted millions of users who are eager to earn PI tokens without investing in expensive hardware. The apparent consistency of PI’s IOU pricing between $61 and $70 suggests that this range may serve as an early indication of the cryptocurrency’s potential open market settlement.
Among the most anticipated cryptocurrency releases of late, Pi Network stands out. The goal is to ensure that everyone with a mobile phone may participate in mining.
Users of Pi can mine its native token with the help of a lightweight mobile app, as opposed to the costly gear needed by standard proof-of-work networks. Millions of individuals have already started using this method prior to its official release, demonstrating the enormous interest it has garnered.
The promise of Pi’s cheap and easy mining has captivated an audience all around the world, especially since Bitcoin mining has become a capital-intensive industry controlled by massive mining farms.
In the days leading up to the formal launch of the network on February 20, prices have risen dramatically due to anticipation. Prior to the token’s official transferability, its price on certain exchanges reflects speculative trading, in which traders wager on the token’s future value.
The unexpected increase has sparked discussions in the cryptocurrency world on the expected launch price of Pi once the network is fully functional. Traders and early adopters are keeping a careful eye on the market’s reaction after the introduction, as interest is developing rapidly.
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BTCC Guide:
- How to Trade Crypto Futures Contracts on BTCC
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- What is Crypto Futures Trading – Beginner’s Guide
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