Pixelverse

when

Coin

<p class="is-style-lead">Pi Network token price has remained in a consolidation phase since March as investors wait for the promised mainnet launch.</p> 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14286274"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/07/Pi-Network1-1024x599.png.webp"> 
  <img loading="lazy" decoding="async" width="1024" height="599" src="https://crypto.news/app/uploads/2024/07/Pi-Network1-1024x599.png" alt="Pi Network"> 
 </picture> 
 <figcaption class="wp-element-caption">
  Pi Network price chart
 </figcaption>
</figure> 
<p> The IOU token has been stuck at $40 in a low-volume environment.&nbsp;</p> 
<h2 class="wp-block-heading" id="pi-network-mainnet-launch-ahead">Pi Network mainnet launch ahead</h2> 
<p>There are signs that Pi Network developers are gearing towards the much anticipated mainnet launch.&nbsp;</p> 
<p>Earlier this year, the team listed <a href="https://crypto.news/pi-network-analysis-as-the-road-to-mainnet-launch-accelerates/" target="_blank" rel="noreferrer noopener">three conditions</a> that must be met for this to happen.</p> 
<p>The first condition is that at least 15 million pioneers must be verified, a process that will remove bots from the ecosystem. In a recent note, the developers noted that over 11 million pioneers had passed the verification stage.&nbsp;</p> 
<p>Another important step is the six-month grace period, which started earlier this month. During this period, all pioneers are required to complete the verification process. Therefore, if the other two conditions are met, Pi may move to the Open Network by either December or January.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">As announced on Pi2Day, the 6-month Grace Period, essential for preparing Pi for Open Network, began on July 1. Pioneers must complete their KYC and Mainnet migration within specific deadlines defined by the Grace Period, which includes flexibility to accommodate Pioneers who are… <a href="https://t.co/E7SfZ5kuwL" target="_blank" rel="">pic.twitter.com/E7SfZ5kuwL</a></p>— Pi Network (@PiCoreTeam) <a href="https://twitter.com/PiCoreTeam/status/1811566208048857368?ref_src=twsrc%5Etfw" target="_blank" rel="">July 12, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The other condition is that the developers hope that the network will have at least 100 dApps, a move that will create utility for the token. It is unclear how many dApps are in the current enclosed mainnet period.&nbsp;</p> 
<p>Finally, Pi Network hopes to launch its ‘airdrop’ when the market is supportive, i.e., when cryptocurrencies are rising.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/pi-network-iou-price-is-stuck-as-traders-wait-for-more-mainnet-details/"> Pi Network IOU price is stuck as traders wait for more mainnet details </a> </p> 
<h2 class="wp-block-heading" id="pi-coin-iou-has-consolidated">Pi Coin IOU has consolidated</h2> 
<p>The Pi Network IoU is a cryptocurrency launched in 2022 and is available in just a few exchanges. It initially jumped to $343 after launch and then plummeted as the Pi Network developers disowned it.&nbsp;</p> 
<p>Since then, the token’s biggest jump happened in March, as <a href="https://crypto.news/bitcoin-new-all-time-high-73000/" target="_blank" rel="noreferrer noopener">Bitcoin reached</a> a record high<strong>. </strong>At the time, it rose to $120 and then retreated to $40, where it has remained since March.&nbsp;</p> 
<p>Pi Network’s token is thinly traded, with the average <a href="https://www.coingecko.com/en/coins/pi-network/historical_data" target="_blank" rel="">daily volume</a> being less than $600,000, meaning that it is not a good representation of how the real Pi will trade.&nbsp;</p> 
<p>Recent events in the <a href="https://crypto.news/tap-to-earn-games-are-thriving-but-their-tokens-face-potential-risks/" target="_blank" rel="noreferrer noopener">tap-to-earn</a><strong> </strong>have sent signals on what to expect when Pi Network is listed in major exchanges. Notcoin, the first tap-to-earn token to go public, initially rose to $0.030 in June and then pulled back to $0.016. Similarly, the Pixelverse (<a href="https://crypto.news/pixelverse-pixfi-price-rises-after-perpetual-staking-launch/" target="_blank" rel="noreferrer noopener">PIXFI</a>) token rose to $0.10 and then dropped by 50% to $0.050.&nbsp;</p> 
<p>While the technologies differ, Pi Network is a tap-to-earn platform since pioneers earn tokens by just tapping the app button. These platforms also create utilities like gaming.&nbsp;</p> 
<p>Therefore, there is a likelihood that the Pi Coin IoU price will remain in a tight range as investors wait for the real deal: the mainnet launch.</p> 
<p> You might also like: <a href="https://crypto.news/polymarket-solana-price-analysis-2024/"> Polymarket: Solana price will not reach an all-time high in 2024 </a> </p>

Pi Network price stalls as traders wait for the ‘real deal’

Table of Contents

crypto.news

Andre artikler udgivet 22. jul. 2024

Solana Dominates DEX Volume

Polkadot Parachain Launch: Robonomics to Connect to Relay Chain on Sept 25

Best Crypto Presale of 2024: MoonBag’s $0.0005 Entry Price is a Golden Opportunity, While Fantom ...

Is It Too Late To Buy MEW? Cat In A Dogs World Price Surges 33% And This Might Be The Next Crypto...

BTC ETFs cross $17b, CrowdStrike outage, WazirX suffers $234m hack, ETH ETFs launch date | Weekly...

Metaplanet Discloses Additional Purchase Of 20.38 BTC

Join our free newsletter for daily crypto updates!