Pi Network: What happened to the Pi Coin IOU?

Pi Network: What happened to the Pi Coin IOU?
фото показано с : invezz.com

2024-5-28 15:30

The Pi Coin IOU price has moved sideways in the past few months as investors wait for the migration to the mainnet. The token has been stuck at $40 since April, down from the year-to-date high of $136 and from its all-time high of almost $500. 

Pi Coin price has struggled this year

Pi Coin is a cryptocurrency IOU that was launched in December 2022 to provide users with the ability to anticipate the performance of the real Pi Network’s token. It was listed by top exchanges like MEXC, BitMart, HTX, and BitGet and has been trading since then.

The real Pi Network developers denounced the tokens and warned against them, which explains why the daily traded volume has slumped. Data compiled by CoinGecko shows that only tokens worth $520k were traded on Sunday.

For starters, Pi Network is a blockchain network that aims to help anyone mine cryptocurrency using their smartphones. This is an easier process compared to how other proof-of-work (PoW) cryptocurrencies like Bitcoin, Ravencoin, and Litecoin are mined.

Pi Network has been welcomed well and has now grown to over 50 million users from around the world. Its Android application has been downloaded by over 50 million users while its X (Twitter) account has been followed by over 3 million followers.

The biggest challenge for miners is that it is not possible for Pi Coin miners to redeem their tokens for fiat currencies. The developers have noted this and are working to migrate the network from an enclosed mainnet to full mainnet. 

Pi Coin IOU price action

Developers are working to move to mainnet

This process has delayed as the developers work to achieve two main goals. First, they are working to boost the ecosystem to ensure that Pi Coin has a strong use cases in the market. To achieve that, they have been working on hackathons to identify potential developers. 

The top innovations in the ecosystem are a Pi Browser that has been downloaded over 10 million times. Also, the developers have launched the Fireside Forum and the Pi Ad Network. Still, there is a long way to go for the ecosystem to get more vibrant.

Second, the developers are working to confirm the users in the ecosystem through the Know Your Customer (KYC) process. The goal is to ensure that all pioneers are real people and that the network is free from bots. Additionally, they hope that the market environment will be conducive before moving from the enclosed mainnet to a real one. As such, while the crypto industry is doing well this year, the mainnet launch has not happened because the developers have not achieved the other two goals.

The post Pi Network: What happened to the Pi Coin IOU? appeared first on Invezz

Similar to Notcoin - Blum - Airdrops In 2024

origin »

High Voltage (HVCO) на Currencies.ru

$ 0.0012187 (+0.56%)
Объем 24H $0
Изменеия 24h: 0.13 %, 7d: -0.82 %
Cегодня L: $0.0012066 - H: $0.0012233
Капитализация $0 Rank 8594
Цена в час новости $ 0.0147322 (-91.73%)

coin high price iou 136 april year-to-date

Источник: invezz.com

coin high → Результатов: 126


Фото:

Where to buy Highstreet (HIGH) coin: it is rising after Binance NFT started accepting it

After a sharp drop since mid-December, the Highstreet (HIGH) coin has now started rising buoyed by today’s admission on the Binance NFT marketplace as an accepted mode of payment. To help investors and traders who are interested in the HIGH coin, Invezz has created a brief article to help with identifying the best places to […] The post Where to buy Highstreet (HIGH) coin: it is rising after Binance NFT started accepting it appeared first on Invezz.

2022-2-1 14:53


Binance Coin Explodes 45% on Heels of Bitcoin Bull Run; What’s Next

Binance Coin (BNB/USD) emerged as the best-performing asset among the top ten cryptocurrencies this week as traders measured its potential against a flurry of adoption-friendly updates. The fifth-largest cryptocurrency, which serves as a settlement token in the Binance exchange and its other ventures, surged to a new record high of $196.96 during the early European […]

2021-2-18 14:29


How BNB Went 3x In One Week (And Why This Probably Isn’t The Top Yet)

Binance Coin (BNB), the native token of Binance, just had its best week ever. On February 2, BNB hit $50 for the first time ever, which was its all-time high (ATH) back then. A week later, on February 10, the cryptocurrency grew to as high as $148, marking a rise of more than 150% for … Continued The post How BNB Went 3x In One Week (And Why This Probably Isn’t The Top Yet) appeared first on BeInCrypto.

2021-2-12 15:02


Фото:

Voyager Token (VGX) price goes up by more than 900%

Voyager cryptocurrency exchange recently saw its native coin, Voyager Token (VGX) price skyrocket by over 900%. The surge came rather suddenly, pushing the token to a new all-time high. Voyager Token price skyrockets Voyager Token, which is also known as BQX at some trading platforms, managed to surge as much as 620% recently, and its […] The post Voyager Token (VGX) price goes up by more than 900% appeared first on Invezz.

2021-1-26 15:34


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru