Pi Coin is set to be launched on crypto exchanges today after its enclosed mainnet phase that began over three years ago ends. Ahead of the launch, the price of the coin crashed 98 percent to $1.25 apiece, as per data on Coin Market cap.
The crypto coin claims to be only cryptocurrency which can be mined on mobile phones by leveraging one's existing social connections. The network was developed by Stanford PhD scholars.
Pi Network had entered the current Mainnet Phase 3 in December 2021 with the launch of the Enclosed Network period, which meant that the Mainnet was live but with a firewall that prevented any external connectivity.
As Pi goes into the open network, crypto exchanges will be able to list the crypto coin. It will be open for transactions beyond the Pi ecosystem.
The coin has seen significant surge in volumes in the last 24 hours. As per data on Coin Market cap, its volume rose over 148 percent to $1.87 million.
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