The Pi Network, a mobile cryptocurrency project captivating users worldwide, is at a critical juncture. With the development team announcing crucial technical updates, they are also unveiling strict guidelines for the use of their stablecoin.
Pi Network recently scheduled a two-hour system upgrade for September 25, aimed at improving the platform’s performance and infrastructure. This maintenance, while temporarily disabling logins and registrations, is presented as an essential routine step to prepare the ecosystem for broader developments.
Such updates are common in blockchain projects and often signify improvements in security, stability, and the capacity to handle increasing transaction volumes. The development team emphasizes their commitment to strengthening the infrastructure for a transition toward a fully decentralized ecosystem.
Alongside technical improvements, new details are emerging regarding the use of Pi Network’s stablecoin, which will be subject to strict limits. Designed exclusively for payments and conversions to fiat currency once the decentralized ecosystem becomes operational, this stablecoin will not be tradable like conventional tokens on exchange platforms. This approach aims to discourage speculation and encourage responsible, practical adoption of the currency.
Users will be capped at a maximum of 0.8 PI or $250,000 per month, whichever is lower, with a daily limit of $10,000. These measures reflect a cautious strategy regarding regulation, stability, and compliance, seeking to regulate the stablecoin flow and prevent speculative operations that could destabilize its value. The focus is clearly on creating real use cases for everyday transactions.
Despite development efforts and the team’s long-term vision, the PI token price has shown notable volatility, with a dominant downward trend. Throughout the day, the price fluctuated around $0.27, after an initial brief spike.
However, it gradually declined, crossing the thresholds of $0.28 and $0.27, even reaching a low point just below $0.27. This performance highlights the inherent challenges of a project that hasn’t yet reached its full maturity in the open market.
The PI value remains largely speculative in the absence of an open mainnet and complete liquidity on major exchanges. The displayed prices are often IOUs or valuations on gray markets, not reflecting a free market value. The combination of limited liquidity, delays in the KYC process, and general market skepticism contributes to this selling pressure.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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