The cryptocurrency market is witnessing heightened attention around the newly listed PI token on OKX, which has sparked discussions regarding its legitimacy and market impact. The token is reportedly trading at around $2 in the over-the-counter market, with some users expressing surprise at its valuation. Notably, major financial institutions have been active in the Bitcoin market, with Fidelity selling 1,400 BTC, BlackRock purchasing nearly 600 BTC, and Ark Invest acquiring 1,200 BTC. The PI token's introduction has led to mixed reactions, with some viewing it as a strategic move for market expansion, while others criticize it as indicative of a lack of compelling narratives within the crypto space. The PI project has faced scrutiny for its association with pyramid scheme allegations in China, leading to a refusal from Bybit's CEO to list the token, and Bitget's subsequent removal of related information. The PI token's market capitalization is currently estimated at $200 billion, contrasting with the $3.5 billion valuation of another token, IP.