Pi Network IOU Price Remains Stagnant as Traders Await Mainnet Developments
On Tuesday, the price of Pi Network's IOU remained steady at
$38.80, holding firm within a narrow range. This stability contrasts with the
recent resurgence of other altcoins. Despite Bitcoin’s impressive surge to
$62,000 and substantial gains for smaller tokens such as Farcana, Popcat,
Tooker Kurlson, and Ben the Dog—each seeing increases of over 40% in the past
24 hours—Pi Network IOU has struggled to move beyond its current level.
The Pi Network is actively advancing its preparations for
the anticipated mainnet launch, amid growing frustration from the community
regarding ongoing delays. The development team has outlined three critical
priorities as they work towards this milestone.
Firstly, significant efforts have been focused on the Know
Your Customer (KYC) verification process for Pi Coin holders. Recent updates
indicate that over 5 million Pi Coins have been successfully verified and
transitioned to the enclosed mainnet.
Secondly, there is increasing anticipation for the network
to support a broader range of applications that will enhance the token's
utility once the mainnet is launched. This is being facilitated through regular
hackathons, where developers showcase their projects and gain support.
Lastly, developers are hopeful for favorable market
conditions to align with the completion of these two critical objectives.
In a recent development, Pi Network developers highlighted
their efforts to ensure the readiness of their nodes. The platform now boasts
20,000 computer nodes in preparation for the transition to the mainnet.
Collectively, these nodes possess over 1 million CPUs, positioning Pi Network
as one of the most decentralized networks in the cryptocurrency industry.
As part of the mainnet transition, the developers will
facilitate the switching between the testnet and mainnet blockchains. To
support this process, a new, clean Testnet blockchain has been introduced to
ensure that the final product is fully prepared for the mainnet launch.
Pi Coin Price Remains Stagnant
Launched in 2022 amid ongoing delays in the mainnet launch,
Pi Network IOU was introduced by the community but subsequently disavowed by
the Pi Network team.
As a result, Pi Coin has struggled to gain traction and is
listed on only a few lower-tier exchanges, where it has consistently
experienced low trading volumes.
Earlier this year, the token saw a brief rally to $121 as
the cryptocurrency market surged. However, it soon fell below $40 and has
remained at this level since. On Tuesday, it lagged behind most altcoins as
their prices rebounded.
The future performance of Pi Coin IOU remains uncertain,
particularly as the main token awaits listing on major exchanges such as
Binance and OKX.
Warm greetings from us jitumaster for all pioneers wherever you are, especially for pioneers in Indonesia, greetings of success!!!
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Source: hokanews.com
