Pi Network's price has dropped since its mainnet launch in February, sparking interest in potential growth factors.
Crypto Market Rally
A crypto market rally could be a key factor pushing Pi Network's price upward. This rally is likely if Bitcoin recovers and surpasses its all-time high, given that altcoins often experience growth under these conditions due to increased investor demand.
Pi Network Burn Mechanism
Token burning serves as an important tool in managing inflation for Pi Network. Moving tokens to inaccessible wallets helps reduce supply. Currently, the plan is to unlock 188 million Pi tokens this month, with an additional 1.6 billion expected to be unlocked next year.
Potential Pi Coin ETF Approval and Exchange Listings
Approval of a Pi Coin ETF by the SEC could be another growth factor for its price. Pi Network meets many of the conditions for this, outweighing other cryptocurrencies that have already submitted ETF applications. Additionally, potential listings on major exchanges like Coinbase and Binance could expand its reach to a broad audience.
Several factors could influence Pi Network's price growth, including market trends, the token burn mechanism, and the potential for listings on major exchanges.
