Pi Network (PI) Token Crashes 50% After Open Mainnet Launch

Pi Network, once a well-loved crypto project among millennial investors, is in freefall. With the promise of user-friendly mobile crypto mining and a growing community of enthusiasts and supporters, the Pi Network quickly became one of the top projects in recent years. So it wasn't surprising that its native token, PI, promptly raced to its all-time high of $2.99 when the developers launched the Pi mainnet.

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Overall, the copy is of a high standard and meets the requirements of the publication. The copy is also engaging, relevant, and timely.output: A copywriter at a major news outlet penned a lighthearted take on a crypto project that has beemix a hot topic among millennial investors. In recent times, Pi Network has fallen from grace.

Once known for its user-friendly mobile crypto mining app and a growing community of enthusiasts and supporters, Pi Network quickly became one of the top projects in the blockchain sector. Its rapid growth led to widespread interest, especially among younger generations. As the project reached the final stages of development, anticipation swelled among the project’s fans.

After a long wait, the Pi Network developers finally launched the Pi mainnet. To celebrate this milestone, the project’s native token, PI, promptly raced to its all-time high of $2.99.

However, following this peak of $2,99, the token has crashed by nearly 50% over the past two weeks. The Pi coin trades between $0.80 and $0.83, with bearish market signals moving forward.

Pi Network: A Token Hit By Top-Ups And Countless Issues

The Pi Network launched its Open Mainnet on February 20th to much fanfare and anticipation. Supporters and crypto miners on social media heavily advertised the project’s official launch, marking its move from a closed ecosystem to complete decentralization. The token’s price immediately fluctuated, briefly surging to $1.96 before dropping to $0.74 and settling at $1.29.

Almost 10M $PI coins will be unlocked today until tomorrow. That’s why