Pi Network (PI) was launched today on major exchanges, but the price quickly dropped.

A few hours after launching on several cryptocurrency exchanges like Bitget, Gate.io, OKX, etc., PI is trading below $1, down over 25% at the time of writing.

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

Disappointed pioneers

Using X, Pi Network users, often referred to as Pioneers, have expressed their disappointment with the listing price. Since any random individual can obtain hundreds of PI coins from CEX, some have questioned the purpose of mining or even its applicability.

Complaints assert that the Core Team should step down and assess how this will affect network users. X users claim that Pioneers deserve more and have worked hard for many years.

The first request from the community to the Core Team, according to user Dr. Picoin, is to provide each Pioneer with unconfirmed PI coins—not to be taken away regardless of how the referral group proceeds.

Although Pioneers hope for a higher price in the Open Mainnet, another person noted that seeing PI trade below $1 may be the last time and reminds us that currencies like SOL and ETH were also affected initially.

Claiming to have over 60 million members globally, PI Network allows people to mine cryptocurrency from their mobile devices.

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