The post Pi Network Price Crashes After Mainnet Launch, Raising Liquidity, Valuation, and Fraud Concerns appeared on BitcoinEthereumNews.com.

Pi Network’s long-anticipated Open Mainnet launch on February 20 has been met with extreme volatility, with its native token, PI, suffering a sharp 65% decline. Meanwhile the Bybit CEO says the project has similarities to an MLM, and that it targets the elderly. Now ByBit has been hacked. There’s lots of new crypto news today. The Pi token, which opened at $1.84, plummeted to a low of $0.64 within hours of trading commencement. This dramatic price drop has sparked concerns over liquidity issues and the project’s overall stability. The mainnet launch marked a pivotal moment for Pi Network, allowing its tokens to be traded outside its enclosed ecosystem. Major exchanges such as OKX, Bitget, and MEXC quickly listed PI, providing long-awaited access for users to cash out their holdings. However, instead of a sustained rally, the token’s price collapsed under selling pressure, raising questions about its long-term viability. Liquidity Issues Raise Red Flags Despite initial excitement, PI’s market structure has shown signs of fragility. Liquidity has emerged as a major concern, with even large exchanges struggling to handle the surge in trading activity. Data from OKX reveals that the platform’s 2% market depth stands at just $33,000 to $60,000, meaning even a $100,000 trade could trigger significant price fluctuations. Pi Network’s token launches with a $195B valuation, sparking concerns over liquidity and potential price instability. Source: Blok Topik via X “The lack of liquidity is making PI’s market highly unstable,” noted an analyst. “Traders are finding it difficult to execute large transactions without impacting the price, which suggests there may not be enough real demand for the token.” Pi Network price chart. Source: TradingView This instability has fueled skepticism about the project’s ability to sustain long-term trading, with some likening it to past high-profile crypto failures that struggled post-launch. Bybit…

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Filed under: News - @ February 21, 2025 7:16 pm