Pi Network (PI) went live on major exchanges today but quickly saw a price drop.

Just hours after its launch on many cryptocurrency exchanges like Bitget, Gate.io, OKX, and more, PI is trading below $1, down over 25%, right at the time of writing.

PI has a trading volume of over $735 million according to CoinGecko statistics.

Disappointing are Pioneers

Using X, Pi Network users, often referred to as Pioneers, communicated their dismay with the listing price. Since any random individual could get hundreds of PI coins from the CEX, someone questioned what the purpose of mining is or even having the app.

Complaints claim that the core team should come down and evaluate how this would affect the network users. X users say that Pioneers deserve more and worked hard for years.

The first request from the community to the core team, according to user Dr. Picoin, is to provide each pioneer with the unconfirmed PI coins, which should not be withdrawn regardless of how the core team proceeds or not.

While the pioneers hoped for a higher price on the open mainnet, another person thinks that seeing PI trading below $1 could be the last time and reminds us that coins like SOL and ETH also suffered in the beginning.

PI Network, which claims to have over 60 million members worldwide, allows people to mine cryptocurrencies from their mobile devices.

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