Big dreams and questions are common in the cryptocurrency industry. Recently, Pi Network and its $PI token have been hot topics. The project reached the Open Network stage, gathering over 60 million users, sparking discussions about its legitimacy. This article delves into $PI’s functionality, developments, and factors influencing its value.
Why Pi Network Gained Popularity Quickly
Pi Network’s rapid rise is remarkable. By early 2025, its user base exceeded 60 million globally. A key factor is its referral system, incentivizing users to invite friends and increase their mining rate, gaining traction in Southeast Asia, Africa, and parts of the USA. The app's simplicity, allowing users to start with minimal blockchain knowledge, also contributed to its growth.
Open Network Launch: A Game Changer?
February 20th, 2025 marked a pivotal event with the Open Network launch for Pi Network. $PI is now free from the app, allowing over a million KYC-verified users to transfer their coins to the mainnet. In March, around 188 million PI tokens were distributed to verified users. This enables real trading, with several exchanges listing $PI, affecting its price fluctuations.
Factors for $PI to Reach $10
To reach $10, several changes are needed for $PI. Growing demand is crucial: with 60 million users, active trading could drive price increases. Listing on major exchanges could also boost its price by attracting new buyers. Furthermore, developing a robust ecosystem with useful dApps might increase token demand. Market supply dynamics also affect value, as oversaturation might lead to price drops.
Currently, $PI is in its early stages, trading at approximately $1.91 and with a market cap of around $13.4 billion. Reaching $10 would require a 5-6x increase, while the circulating supply could vastly grow. Although some are optimistic about its potential, many hurdles remain. Ultimately, its future hinges on gaining trust and consistent development.
