The crypto world’s latest token just got a reality check. Pi Network’s coin, which made waves as the first cryptocurrency you can mine from your phone, took a nasty tumble Friday morning, plunging 62% to $0.737 from its Thursday debut high of $1.97.
What’s got everyone buzzing about Pi? Imagine mining crypto without the massive electricity bills or fancy equipment – just tap your phone once a day. That’s Pi’s hook, and it’s caught on like wildfire, racking up over 110 million downloads and pulling in about 110,000 new users daily. Just last weekend, they added half a million newcomers in a single day.
The project, cooked up by some Stanford grads back in 2019, finally went live Thursday after keeping its 100 million miners waiting for two years. Now they can actually do something with all those coins they’ve been collecting – trade them on major exchanges like Binance, CoinDCX, and OKX.
How to invest in Pi? It’s pretty straightforward:
- Grab the Pi Network app
- Hit the lightning bolt to start “mining”
- After three days, loop in some friends to boost your earnings
Some optimists are throwing around wild predictions – we’re talking $500 per coin by 2030. But today’s crash is a stark reminder that crypto’s never a smooth ride.
