The post Pi Network Launches on OKX at $2.2, Crashes to $1 Shortly After appeared on BitcoinEthereumNews.com.

The long-awaited Pi Network (PI) spot trading has officially begun, but the price action has been brutal for early speculators. Pi started trading at $2.2 on OKX at 8 AM UTC, marking a major milestone for the project. This drastic drop comes after Pi Network IOUs were trading between $200 and $40 on BitMart in the days leading up to its spot listing. Many traders who expected a higher launch price were caught off guard by the immediate crash once real market conditions took over. Pi IOUs Were Trading at $200 Before the Spot Market Opened Before spot trading was enabled on OKX exchange, Pi Network IOUs reached highs of $200 before gradually declining to $40 on BitMart. These inflated IOU prices created false expectations about Pi’s value once real trading began. Pi Network Trading Overview: IOU Price on BitMart Days Before Launch: $200 → $40 Spot Trading Opened on OKX: $2.2 The massive difference between the IOU price and the actual spot price showcases the dangers of pre-market speculation, where traders buy assets that aren’t yet transferable or fully liquid. Why Did Pi Network’s Price Crash? Several factors contributed to Pi Network’s sharp decline after launching on OKX: Overinflated IOU Prices: IOUs were trading at up to $200 on BitMart, but IOUs don’t reflect real market demand. Once real liquidity was introduced, buyers weren’t willing to match speculative IOU prices. Massive Sell-Off Pressure: Many early holders rushed to sell their tokens immediately, leading to a rapid price drop. The lack of sufficient buy orders at higher levels accelerated the decline. What’s Next for Pi Network? Despite the rocky start, Pi Network remains a widely followed project with a global community of miners. Moving forward, key factors to watch include: Potential Listing on More Exchanges – Increased availability of Pi Coin on major exchanges could…

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Filed under: News - @ February 20, 2025 9:15 pm