The Pi Network released its native token, PI, causing a price surge of 18% before plummeting 50% in the span of two hours. The fully diluted value (FDV) reached $195 billion, nearly double the value of the Solana blockchain's SOL. However, the project has drawn comparisons to viral projects associated with multilevel marketing schemes. The lack of liquidity in exchanges makes trading the tokens volatile, and even the most liquid exchange, OKX, has limited market depth. To address this, Pi Network offers a lock-up period of up to three years, incentivizing participants with higher mining rewards.



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