Key Points
- Pi Network’s IoU price remains steady while other altcoins experience growth.
- Pi Network is preparing for its mainnet launch, focusing on KYC verification, application development, and favorable market conditions.
Pi Network’s IoU price has stayed consistent, trading around $38.80, while other altcoins have seen significant growth. This trend occurs as Bitcoin reached a value of $62,000 and other smaller tokens such as Farcana, Popcat, tooker kurlson, and Ben the Dog saw over 40% growth within the last day.
Preparation for Mainnet Launch
In preparation for the mainnet launch, Pi Network is focusing on several key areas. User complaints regarding delays have been noted, but the developers have outlined their three primary objectives. Firstly, a significant amount of time is being dedicated to KYC verification for Pi Coin holders. Developers have confirmed that over 5 million have been verified and moved to the enclosed mainnet.
The second objective is to increase the number of applications for the token, aiming to provide utility upon its launch. This is being achieved through regular hackathons, where developers can present their projects and potentially gain support.
Lastly, the developers are hoping for supportive market conditions once the first two objectives are met.
Readying Nodes for Transition
The developers have been working to ensure their nodes are ready for transition. The platform has already accumulated 20,000 computer nodes, all waiting for transition to the mainnet. These nodes possess over 1 million CPUs, making Pi one of the most decentralized networks in the crypto industry.
As part of the mainnet transition, developers will enable switching between the testnet and the mainnet blockchains. To aid with testing, a new clean Testnet blockchain has been introduced to ensure the final product is ready for the mainnet.
Stagnation of Pi Coin Price
The Pi Network IoU, a cryptocurrency launched in 2022, has seen little movement due to continued delays in the mainnet launch. The Pi Network’s team immediately disavowed the currency after its community launch.
The Pi coin has seen little growth and is only listed on a few low-tier exchanges, regularly experiencing low volume. The token reached a peak of $121 earlier this year amidst a general rise in coin value but has since fallen to below $40.
The future of Pi Coin IoU remains uncertain, particularly when the main token is listed by exchanges like Binance and OKX.
