Pi Network finally pulled the trigger on its mainnet launch. With the hype literally “shooting to the moon,” do we believe the Bitcoin throne at last has a worthy contender?

Since our previous post on Pi Coin vs Bitcoinand after what felt like an eternity of cryptic updates and delayed promises, Pi Network has finally pulled the trigger on its mainnet launch. The hype? Unreal. This was the moment Pi Coin was supposed to go from an app-based fantasy to a legitimate, tradable cryptocurrency. And for a hot minute, it looked like it was happening—prices shot up, early adopters cheered, and Twitter (sorry, X) was drowning in moon emojis. Pi initially spiked to $1.97, crashed to $0.737, then bounced back 80%and then went all the way back down $0.76. That’s pretty low for a coin that was expected to hit $50 at one point.

The $50 Dream

Image Courtesy: Wikipedia

Yeah, about that $50 dream, turns out, reality had other plans. There was a ton of speculation (and, let’s be honest, wishful thinking) that Pi Coin would debut at some sky-high price, with $50 being one of the more popular numbers thrown around. Some hardcore believers even claimed it would hit $100 or more. That being said, however, when the mainnet finally launched, Pi’s opening price on exchanges was a lot more “modest” at $1.97. Why the massive gap?

A few reasons. First, a lot of those high numbers were just “ball-park” figures and not really based on anything concrete, just community hype and possible comparisons to Bitcoin’s early days. Second, real-world trading prices are dictated by supply, demand, and market sentiment, not just what people want them to be. And third, even though Pi is now tradable, not all users have access to their full holdings yet, which is affecting liquidity. So $50? Maybe one day for sure, but not yet.

The Mainnet Launch

Now that the mainnet is live, the million-dollar question is “What’s next?” Does this mean that major exchanges might finally start listing Pi Coins? As of now, Pi’s price is up and down like an old see-saw and currently at $0.76with some exchanges even listing unofficial IOUs instead of the actual coin. Until there’s clarity on listings and widespread adoption, it’s hard to say whether Pi is the next Bitcoin or just another ambitious project that couldn’t escape its own hype.

Then there’s also the obvious question about utility. Crypto enthusiasts love to dream about building truly decentralized economies and there’s nothing wrong with that. At the end of the day, however, if no one is actually going to use their Pi Coins for anything other than speculative trading, it’s going to be difficult to guarantee it’s long-term survival. Additionally, while the team does have plans, partnerships, dApps, and all that good stuff, execution is everything and for now, Pi still has a lot to prove

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