Since being listed on December 29th, 2022, the Pi Coin has now traded for five days on the XT Exchange and Huobi Global Exchange. However, since the start of this year, the price of the token has dropped significantly in the last 48 hours (2023).
The native token of Pi Network was trading at $5.30 at the time of writing, a decline of -22.83% on the XT Exchange platform. Pi Coin is likewise down -28.26% on the Huobi platform and is currently trading at $115. At this early point of the listings, there is no consistency in the price of the coin, in contrast to Bitcoin and Ethereum, which trade in real-time across all platforms.
Pi (Pi Network) experienced a remarkable rise of 37400% to trade for $35,000 in less than 24 hours after being listed, according to data shared on twitter by Atlantis Exchange. The Pi Coin value still varies, though, because the price hasn’t been set uniformly across exchanges.
What is Pi Network?
Nicolas Kokkalis and Chengdiao Fan of Stanford University created the Pi network. To make digital money available to everyone, they began working on it in 2018. They created the Pi Network app and published a whitepaper on March 14, 2019.
The project makes environmental sustainability a priority, which can entice investors who are concerned about the environment. It may be particularly effective given that the crypto market has frequently received criticism for its high energy usage as a result of processes like proof-of-work (PoW), which harms the environment.