Current State of Pi Mainnet Launch and Project Prospects

user avatar

by Giorgi Kostiuk

2 years ago


The Pi Network token maintains significant support despite ongoing mainnet launch delays that continue to impact its price.

Current State of Pi Token and Mainnet Delays

The Pi Coin token price remains at $50, significantly below the November high near $100. The main factor for the price drop is the ongoing delay in the mainnet launch. Initially, developers postponed the KYC verification period from November 31 to December 31, and again to January 31. At that time, over 18 million members completed KYC verification, but only 8 million moved their tokens to the mainnet.

Mainnet Launch Prospects and Expected Changes

According to a statement on January 5, Pi Network developers noted that over 9 million users have migrated their tokens, increasing the chances of reaching the 10 million threshold by January 31. If all goes well, the mainnet launch is expected to happen in Q1 2025, likely in February or March.

Pi Network Price Analysis and Potential Risks

The Pi Network IoU token on the HTX exchange is not affiliated with the official Pi Network project but is considered the closest proxy for the real Pi Coin. Historical data suggests its price raises hopes during mainnet launches and falls when those hopes fade. The chart shows a stabilization at $50, which serves as both a psychological level and the lower side of an ascending trendline since September. Current consolidation around the 50-day moving average may indicate accumulation ahead of a breakout that could potentially drive the price to $100.

The Pi Network mainnet launch presents significant opportunities for the project and its participants, though it also carries the risk of further delays. Successful migration to the mainnet will expand the audience and capabilities of Pi Network.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.