I will try to clarify this confusion regarding the "Pi" currency (Pi Network), which was launched this morning, February 20, 2025, based on the data available from reliable sources and official platforms as of this moment (12:53 GMT+1). I will rely on information from sites like CoinGecko, CoinMarketCap, and well-known trading platforms like OKX, in addition to analyzing the general context of the topic.
The "Pi" currency, developed by the Pi Network, is a digital currency launched after years of anticipation. It has been in the development and mining phase via its app since 2019. The project, as announced by its Stanford University development team, aims to make digital currencies accessible to everyone through smartphone mining. However, until today, there has been no official trading of the coin on major platforms like Binance or Coinbase, which has fueled much speculation about its true value.
This morning, it appears that the Mainnet has been launched or an initial trading phase has begun, as indicated by some reports on platforms like OKX. However, there is significant ambiguity surrounding the official launch price, as the Pi Network team has not yet issued a clear statement specifying the opening price.
Initial Price Analysis:
OKX Platform: According to recent posts on X (at 10:25 GMT+1 today), trading of Pi began on OKX at around $2, then dropped to approximately $1, before rising to $3.5 per Pi. This fluctuation reflects a natural state of instability in the early hours of any new currency launch, as the market attempts to determine its value based on supply and demand.
CoinGecko and CoinMarketCap: As of now (12:53 GMT+1), the official price data on these platforms has not been fully updated to reflect todayās launch. Previously, there were rough estimates for "Pi IOU" (unofficial representative tokens) ranging between $1.5 and $47 based on secondary market trading, but these are not accurate indicators for the official coin post-Mainnet launch.
No Official Price Announced: The Pi Network team has not yet specified a fixed opening price via its official website (minepi.com) or social media channels. This could be intentional to allow the market to naturally determine the price, or due to a delay in official announcements.
Confusion and Concerns About Fraud:
Conflicting Valuations on Social Media: The spread of varying price estimates for Pi on platforms like X and others reflects a state of informational chaos. Some users promote high prices (e.g., $100 or more), while others question the legitimacy of the currency itself.
Potential Fake Coins: There is a possibility that unofficial entities are exploiting the hype around Piās launch to promote fraudulent coins with similar names (e.g., "Pi Coin" or "Pi IOU") to deceive users. This is common in the cryptocurrency market, especially with highly popular projects like Pi Network, which boasts over 35 million users.
Lack of Transparency: So far, the absence of an official statement from the Pi Network team regarding the price or launch details increases confusion among miners and investors, leaving room for speculation and potential scams.
Real Price: The current price (as of 12:53 GMT+1) appears to range between $1 and $3.5 on OKX, a relatively reliable platform. However, this price is temporary and unstable and may change rapidly as trading volume increases.
Official Launch: It seems the Mainnet has indeed started, but trading remains limited to certain platforms (e.g., OKX) and has not yet been listed on major exchanges like Binance or Coinbase, indicating we are in a very early stage.
Advice for Miners: If you are a miner, wait for an official statement from the Pi Network app or its website before taking any action (e.g., selling or transferring the coin). Avoid dealing with any entity claiming to offer "Pi" outside of trusted platforms.
Beware of Scams: Always verify the source of the currency you are trading. The official coin should be directly linked to the Pi Network, not other projects with similar names
As of now, the situation around the "Pi" currency remains unclear due to the lack of an official announcement from the development team about the launch price. The currently traded price ($1ā$3.5) is a preliminary estimate from OKX, but it may not reflect the long-term true value. The varying valuations on social media add to the confusion, and some may be fraudulent attempts. I recommend following the official Pi Network website (minepi.com) and its official channels for accurate updates in the coming hours or days, while exercising caution with any suspicious offers at this time.
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