What is PI coin? Listing is soon!
Pi is a novel cryptocurrency that aspires to be the first digital currency in the world that can be mined on a mobile device. It is also the native cryptocurrency of the Pi Network, has a maximum supply capped at 100 billion Pi. This supply is split with an 80/20 distribution between the community and the Pi Core Team. Pi Network, developed by a team of Stanford PhDs, was launched in 2019 and has quickly gained traction in the cryptocurrency community. As of October 2024, the network boasts over 45 million active users.
Pi Network Features
Pi Network sets itself apart by aiming to provide a more accessible cryptocurrency solution compared to Bitcoin. Users can mine Pi Coins (PI) directly from their smartphones, eliminating the need for energy-intensive mining processes typically associated with other cryptocurrencies.
Pi Network offers various methods to earn Pi Coins beyond basic mining, enhancing user engagement and network security. These methods include:
- Security Circles: Groups of 3-5 trusted people who validate transactions within the network.
- Referral Programs: Incentivizes users to invite new members by offering bonuses.
- Bonus Epochs: Periodic rewards for consistent participation in network activities.
By leveraging these features, Pi Network seeks to create a more inclusive and user-friendly environment for earning and utilizing cryptocurrency.
Pi Network's innovative approach and community-focused features make it a fascinating project in the crypto space.
Pi Coin Market Insights
Pi Coin Price Surge
The Pi coin has experienced a significant price surge recently. After the announcement of the PI/USDT spot trading pair listing on a major exchange, the Pi coin price surged by 106%, breaking the $100 barrier. This surge indicates increased demand and interest from investors and traders. USDT is a well-known stablecoin, commonly used in the crypto world instead of fiat USD.
Pi Coin Market Cap
Despite the notable price surge, the current market cap of Pi coin remains at $0 USD. This could be due to the ongoing developmental stage of the Pi Network and the pending full integration and adoption.
Pi Coin Trading Volume
Pi coin's trading volume reflects its growing popularity and investor interest. The 24-hour trading volume on Binance stands at $944,489.97. Trading is set to start on February 20 at 8:00 AM UTC, which may lead to further changes in trading volume.
Investors and crypto enthusiasts can keep an eye on these market insights to make informed decisions about their involvement with Pi coin.
Pi Network Mainnet Launch
The launch of the Pi Network's mainnet represents a significant milestone for the cryptocurrency, transitioning it from a test currency to a tradable asset.
Transition to Open Mainnet
The Pi Network is gearing up for its Open Mainnet launch, targeted for February 20, 2025. This transition will shift Pi from a closed ecosystem to a fully decentralized network, enhancing its utility and accessibility. Since its inception on March 14, 2019, Pi Network has sought to simplify cryptocurrency mining by allowing users to mine Pi Coins directly from their smartphones without the energy-intensive processes typical of cryptocurrencies like Bitcoin.
The mainnet launch is anticipated by the end of 2024 and will mark a significant upgrade. Users will be able to move their Pi Coins outside of the Pi Network app to wallets capable of supporting transactions on decentralized platforms. The increased accessibility and open transactions are expected to drive higher trading volumes and attract more users to the network.
Potential Exchange Listings
With the mainnet launch, Pi Coin is poised for potential listings on major cryptocurrency exchanges. There is speculation that exchanges like Binance and OKX could list Pi Coin, providing a broader platform for trading and increasing its market visibility. Listing on significant exchanges typically results in higher liquidity and easier access for investors seeking to trade the newly decentralized asset.
By exploring the potential exchange listings, investors can gauge the future liquidity and trading opportunities for Pi Coin. The launch of the mainnet and subsequent exchange listings could serve as a catalyst, driving market dynamics and future valuations. The Pi Network’s transition to an open mainnet stands to significantly impact the broader cryptocurrency market by providing a newly accessible digital asset for traders and enthusiasts alike.
Factors Impacting Pi Coin's Future
Mainnet Utility and Adoption
As said earlier, Pi Network is gearing up to launch its Open Mainnet on February 20, 2025. This transition will shift Pi Coin from a closed ecosystem to a fully decentralized network, which could influence future exchange listings on platforms like Binance and OKX. The expectation for the mainnet launch set for the end of 2024 signifies the Pi Coin’s move from test network status to a tradable asset on centralized and decentralized exchanges.
A community vote held on Binance explored the potential listing of Pi Coin, garnering 85% support as of February 18, 2023. Although this vote does not ensure a listing, it indicates strong community backing, with users having had until 23:59 UTC on February 27 to cast their votes.
Trading Volume and Activity
As Pi Coin prepares for its launch, it is set to start trading on Binance on February 20 at 8:00 AM UTC. The coin's price on Binance stands at $71.81, boasting a 24-hour trading volume of $944,489.97, although its market cap is currently listed at $0 USD.
The Pi Coin might face significant selling pressure post-launch as long-time miners get their first chance to liquidate their holdings. Upon the debut of Pi Coin, miners will be able to convert their coins into fiat currencies, ending years of accumulating coins within a closed ecosystem. Additionally, the launch will grant access to approximately 80 community-built applications within the Pi ecosystem, potentially enhancing coin utility and trading activity.
The upcoming mainnet launch and the transition to decentralized trading are pivotal for Pi Coin and its community, impacting its market performance and adoption significantly.
