Pi Coin Price Update: Market Trends and Buying Guide
Overview of Pi Coin's Price Movements
Since its inception, Pi Coin has experienced significant price volatility. Over the past month, its value has increased by 17.24%. However, it has seen a decline of 43.30% over the last two months and a staggering 58.03% drop in the past three months. The official launch of the Pi Network's Open Mainnet on February 20 marked a pivotal moment, allowing users to transfer their Pi Coins beyond the network for the first time.
Market Reaction Post-Mainnet Launch
Following the mainnet launch, Pi Coin was listed on major cryptocurrency exchanges such as OKX, Bitget, and CoinDCX. Unfortunately, the price plummeted by approximately 55%, settling around $1 after initially being traded at inflated prices of up to $200 by some investors, leading to unrealistic market expectations.
Pi Network's DeFi Plans
The Pi Network is a community-driven cryptocurrency initiative that is working on its own token swap, which is crucial for its Phase 3 plans related to DeFi 3.0. According to the project's white paper, this phase involves connecting the Pi token to various exchanges, facilitating cross-exchange trading through the token swap feature.
Current Price and Market Capitalization of Pi Coin
As of now, the price of Pi Coin on Binance is $0.708336, with a 24-hour trading volume of $553.36 million. The market capitalization of Pi Coin is reported to be $5.07 billion, although it has decreased by 17.64% in the last 24 hours.
How to Mine Pi Coin
Mining on Mobile
- Download and install the Pi Network app.
- Tap the lightning bolt icon to begin mining Pi.
- After three days, invite 3-5 trusted friends to enhance your mining speed.
- Share your referral code with friends to earn additional Pi.
Steps to Buy and Trade Pi Coin
Buying and Trading Made Easy
With Pi Coin now listed, purchasing and trading has become straightforward. Here’s how to get started:
- Create an account on a supported exchange like CoinDCX, OKX, or Bitget.
- Complete the identity verification process (KYC).
- Fund your exchange wallet.
- Purchase Pi Coin and start trading.