Disable the encryption or just another currency? – Tradingvief news

The main players such as OKX and Bitget have already jumped on the cart, where they included the PI and submitting attractive promotional offers to the Woo merchants. For example, Bitget unveiled the Pi Airdrop group worth $ 60,000 until March 3, aimed at rewarding active users and stimulating trading activity. Meanwhile, Binance, the encryption exchange giant, followed a more democratic approach by holding a community vote to decide on the Coin menu, with results signed on February 27.

This launch represents an important milestone for the PI, a project that spent years in development, and brings together a dedicated community of users. However, with excitement, the audit also comes, as the skeptics question the basics of the project and the long term.

For the first time in Pi Coin’s Rollercoasster

The launch was not without a play. Pi Coin presented a dramatic entrance, first appeared at $ 1.70 and rose to 2.00 dollars before taking 50 % of its value within hours. This wild flight linked its fully diluted evaluation to $ 195 billion, which competes with the giants of the encryption space.

He is currently sitting at $ 0.66 at the time of writing this report.

The screen was filmed from Coinmarketcap.com at 8.58 in the morning GMT+2

However, liquidity – or its lack of brightness – was attached. In OKX, the depth of the market has not violated $ 2 % a sign of $ 100,000, raising eyebrows and questions about the benefit and demand of the real world of the currency. Although the evaluation on paper, the actual trading volume and accessibility remains low, leading to speculation that the market price may not reflect the real demand.

Moreover, the PI network community was vocal for maintaining the “closed economy” model to avoid speculation. However, with the open Mainnet active now, the real test lies in how the market interacts with free -circulating PI currencies, especially given the cautious position of some major exchanges.

PI mining: new or golden boundaries?

Pi Network is famous for its new approach to mining. It has been gathered days of thirsty excavators and complex algorithms. Instead, the PI provides a mobile application where a “mine” by taking advantage of a daily button. This experiment attracted GamFied a huge user base, with the network includes 60 million users, 10.14 million MAINNET deportations, and 19 million operations to complete the KYC process.

But not everyone is sold. Critics argue that this model from the tap to the atom is more related to the usual adaptation than the original Blockchain innovation. Lack of transparency regarding the basic team operations and the absence of smart contracts even after six years not only added fuel to the fire of doubt.

The PI Model has been compared to the mining projects based on mobile devices that promised decentralized wealth, but it is struggling to maintain value when facing the market forces in the real world. Without a clear mechanism for sustainable adoption in a way that exceeds speculative trading, many remain cautious about its long -term horizons.

Bybit, CEO Ban Zhou CEO, rejected the Coin Coin list, describing it as a “big fraud”. Zhou, who previously rejected an invitation to join the PI as “ridiculous”, confirmed that bybit does not include fraud, noting a Chinese police warning 2023 PI classification as fraudulent. A violent reaction from PI supporters included allegations that bybit had applied for a list and rejected, but Chu denied these allegations, and urged the PI team to address fraud fears instead of attacking critics.

Smoothing corner: Questions that were not answered on the horizon

While the PI community disturbs excitement, a group of critics is still not convinced. The mysterious nature of the PI networks, the contradictions in the user’s statistics, and the unconventional mining process are all points of disagreement. The project reluctance to unveil the fully detecting Blockchain technology and control that the main team maintains the main contract active in questioning decentralization claims in the project.

In addition, concerns about the true benefit of the PI coin continue. Several projects were launched with a sensation, only to struggle to submit requests in the real world outside of speculative trading. The fact that the PI coin has such a high theoretical evaluation without the corresponding liquidity raises fears that its price may not be sustainable in the long run.

With the Coin PI step to the lights, potential investors are urged to walk carefully, armed with a healthy dose of doubts and diligence. Although the project has definitely captured the imagination of millions, only time will determine whether it could be transmitted from an ambitious experience to a legitimate force in the world of encryption.

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