Pi currency experienced significant volatility after its listing on exchanges.

(NLĐO) - At 3 PM on February 20th, Pi Network was officially listed on several exchanges.

According to reports, Pi was listed at $2 USD/pi on the OKX exchange. However, contrary to expectations of a price increase, the cryptocurrency was unexpectedly sold off, plummeting by 20% to $1.2 USD/pi.

On the Mexc exchange, the price of Pi is rising to $1.4 USD/pi. The coin is not yet listed on Bitget or Binance.

According to reporters, after Pi was listed on the exchange, many investors urged people to buy in to take advantage of the low price of Pi.

Hong Viet's account: "Buy quickly everyone! Tomorrow the price of Pi could increase sharply, up to 30 USD/pi. This is an opportunity to buy in."

Meanwhile, many people expressed disappointment, thinking that Pi was trading at $50-60 USD/pi before its listing, but now it's only $2 and plummeting sharply.

Pi's price plummeted immediately after listing on the exchange.

"Huh, Pi was trading at over $50/pi, why is it only $2 now? It just listed on the exchange and it's already dropped so sharply, what will it be like tomorrow? Now that the price has slightly increased again, should I sell? I'm afraid someone is pushing the price to the peak and then selling off," shared user Phuong Minh.

Experts say that on the first day, Pi's price may increase due to buying sentiment from investors, but not significantly because there is a large amount of Pi on the market, as those who previously mined Pi for free are holding a significant amount of this cryptocurrency.

"Upon listing, the price of Pi may surge due to FOMO (fear of missing out). However, it is expected that the price of Pi will plummet sharply in the near future, possibly down to 0.0000...x USD/pi, which is difficult to determine. Investors should not rush to buy, as it is very risky," this expert said.

Prior to Pi's listing on exchanges, many accounts belonging to "Pi enthusiasts" on Facebook's Pi Network groups continuously posted messages expressing their expectation that Pi would fetch a high price before the official announcement of Pi Network's listing on exchanges at 3 PM today.

Some Pi groups in various provinces and cities have shared posts about organizing Pi-related events and preparing for grand celebratory gatherings.

During this period, the buying and selling of Pi also boomed, fluctuating between 60,000 and 100,000 VND per Pi.

According to Van Phong's account, Pi could reach $10,000/pi. Currently, it's being sold cheaply for those looking for high-profit investments, at just over 100,000 VND/pi.

"I'm looking to sell my entire wallet for nearly 100,000 VND/pi, plus a free iPhone 15. After Pi is listed on an exchange, its price will be around 70-80 USD/pi, and later it could increase to 10,000 USD/pi, even reaching the same level as Bitcoin," this account shared.

According to Ho Hiep's account, he also wants to sell 50,000 Pi before the listing, at a price of 90,000 VND/Pi. "Everyone should buy quickly to accumulate, the expected price of Pi will be 50-60 USD/Pi. Due to personal reasons, I can't continue trading," Mr. Hiep said.

In Vietnam, virtual currency, digital currency, cryptocurrency, etc., are not considered legal tender and are not legal means of payment.

Source: https://nld.com.vn/dong-pi-bi-ban-thao-ngay-khi-len-san-196250220145241312.htm