Pi Network Slips Further : When Will PI Bounce Back ?
Despite a 32% price drop, Pi Network still aims to be among the world's most widely used cryptocurrencies. Find out why crypto analysts continue to have faith in PI's future.
A Price Drop in PI That Doesn’t Deter Long-Term Vision
Over the past few weeks, the token PI has experienced a significant drop of 32.8%. However, analysts like Kim H. Wong are not concerned. They believe the project is still in its early development phase, and investors should focus on the ecosystem rather than the price.
During its mainnet launch, the token saw an impressive surge of 770.20%. In just six days, its value even rose by 2,713.40% – a clear sign of market excitement at the time.
However, this surge was short-lived. After reaching an all-time high of $2.99 in late February, the price of PI plummeted by 81.92% between late February and early April. Today, it is trading at $0.7433, a decrease of 73.9% from its peak.
A Promising Ecosystem and Sustainable Use Cases
Despite the price correction, the Pi Network ecosystem continues to grow rapidly. Over 100 decentralized applications (Dapps) are currently in development across mainnet, testnet, and ideation phases.
For example, applications like Pi Marketplace will enable users to buy and sell goods and services directly with PI, enhancing the utility of the token in real transactions.
Other Dapps, such as Pi Social, provide networking platforms where community members can interact, organize events, or share resources, creating a robust internal economy.
The monthly hackathon organized by Pi Network plays a key role in this expansion. Developers are encouraged to submit Dapps via the Brainstorm app, with prizes of 10,000 token for winning projects. This program fosters the emergence of practical use cases.
Furthermore, to boost adoption further, Pi Network has launched a $100 million venture capital fund dedicated to Dapps offering tangible utility – a bold initiative towards widespread adoption.
70 Million Users and Regulatory Advantage
The Pi Network community is one of the largest in the crypto sector, with over 70 million users globally and more than 20 million members verified by KYC. This not only strengthens its regulatory position but also demonstrates confidence and scalability potential of the project.
The network still offers free mining, making it attractive for new users entering the crypto space.
In conclusion, although the price of PI is declining, its adoption curve is still on the rise. If the network continues to grow with significant Dapps and strong community support, a price rebound may just be a matter of time.
Stay tuned for the latest trends and news in the crypto world to stay updated on the exciting evolution of the Pi Network ecosystem.
Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
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This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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