What drives the fluctuations in Pi Coin?
Several key factors contributed to Pi Coin’s recent price action:
- Open Mainnet Launch: PI Network’s long-awaited Open Mainnet release ultimately enables users to migrate mining coins outside the network. This milestone has caused excitement and enormous buying pressure.
- Exchange Lists and Guesses: The possibility of listing PI coins on major exchanges such as Binance has sparked speculation. Although the final decision is still waiting, 86% of participants in the Binance community vote support the listing.
- Broader market sell-off: According to COINDCX research team, institutions like BlackRock have been unloading billions of Bitcoin and Ethereum, which has led to a wider market weakness.
- Macroeconomic and regulatory factors: Tariff tensions between the United States and China, coupled with an encrypted regulatory stance, add to uncertainty.
PI coins face censorship and doubt
Despite its rapid rise, Pi Coin has attracted criticism from industry leaders. Bybit CEO Ben Zhou regarded the project as a scam, accusing it of prey on older investors. The network is also concerned about its lack of transparent market cap and comparison with the pyramid scheme.
Meanwhile, WU blockchain founder Colin Wu questioned Binance’s consideration of Pi Coin, believing that the exchange’s pursuit of user growth could come at the expense of security and credibility.
What is a PI network?
The PI Network was founded in 2019 by Stanford graduates as a Web3 blockchain project that allows users to mine cryptocurrencies on their phones, in stark contrast to Bitcoin’s energy-intensive mining process. According to the project’s website, “PI Network is a community of Pi cryptocurrencies mined by tens of millions of humans to use and build a Web3 App ecosystem.” The platform touts its energy-efficient mining, crowded KYC solutions, and interoperable digital currencies as key advantages. The mining PI requires the application to be opened only once a day, making it easier for everyday users to access it.
How and where to buy Pi coins?
Pi Coin is currently listed on exchanges such as CoindCX, OKX and BITGET. To purchase, the user must:
- Download supported exchange applications.
- Complete the process of knowing your customer (KYC).
- Deposit funds into their wallet.
- Place an order to buy PI coins.
Future prediction: Where are the PI coins?
Looking ahead, analysts still have differences over the future of Pi Coin. Some, including Indian Wealth, show that cryptocurrencies have gained real-world utilities and widespread adoption, and may cost more than $500 by 2030. But skeptics warn that the tokens are still high without clear use cases and transparent circular supply.
At the same time, the total supply of Pi Coin is 101.1 billion, with a maximum upper limit of 100 billion. Despite its recent listing, details about the actual circular supply remain bleak, adding another layer of risk.
Is Pi coins a game-changer or a hype?
Pi Coin has rapidly risen to the cryptocurrency world, but questions about its legitimacy and long-term viability. While its open mainnet launch marks an important step forward, the focus on transparency and security remains. Pi Coin’s fate is pending as major exchanges are still debating the sustainability of their listing and market conditions.
Investors should act cautiously. Despite the potential for exponential growth, the risks are equally high. Whether the Pi coins appear as a true decentralized financial disruptor or gradually fades out of obscurity remains to be seen.
