Pi Network set a new milestone in the crypto industry by conducting the largest airdrop in history following its mainnet launch and exchange listings.
Pi Network's Historic Record
According to Bitget's report, Pi Network's ecosystem has achieved a market valuation of $12.6 billion, which is twice the previous record set by Uniswap in 2020. Currently, 6.3 billion PI tokens are in circulation with an initial price of around $2.
Launch and External Network Connectivity
Pi Network successfully completed its Open phase, allowing integration with other blockchains and financial systems. This development made Pi available on major exchanges such as OKX and Bitget, supporting centralized exchange and node connectivity.
Challenges and Future of Pi Network
Despite the success, Pi Network faces challenges including regulatory scrutiny and doubts about its mining model. Although the initial PI token price exceeded $2, it later dropped to $0.8783 due to mass sell-offs.
The future of Pi Network remains uncertain, yet the team is focused on building a decentralized and scalable ecosystem.
