Pi Network Price Prediction 2024-2030
Pi Network has been around since 2018. According to its creators, the blockchain protocol was designed so that anybody could mine Pi on their mobile device. The Pi network’s popularity grows as the project gets closer to a public launch. This article discusses the Pi coin price prediction for 2024 and upcoming years, where it stands now, and how it may perform in the future.
This article does not provide investment advice; instead, we urge investors to do their own due diligence and commit only what they can afford to lose.
What is Pi Network?
Pi Network is an innovative digital currency initiative that is focused on top crypto standards. Unlike popular cryptocurrencies like Bitcoin and Ethereum, which are becoming increasingly centralized, the Pi Network was built to be widely available to all users. The network is maintained by a group of Stanford graduates and is entirely based on mobile technologies.
The project claims that it enables anyone to mine cryptocurrency on their phone without sacrificing battery life. As a result, there is currently a lot of wild conjecture over the potential future value of the Pi coin. But without all the necessary information, Pi coin estimates are difficult.
The first principle of cryptocurrencies, as put forth by Satoshi Nakamoto, the mystery creator of the Bitcoin currency, is intended to be fulfilled by the Pi network, according to its whitepaper. Its goal is to restore the people’s financial power. This is the project’s main driving force.
The Pi network seeks to develop a platform for smart contracts that is user-secured and managed. The Pi utility token will enable the protocol’s goal of creating the most inclusive peer-to-peer (P2P) marketplace ever created.
The project was launched on March 14, 2019, and it has continued to expand since then. Pi Network appears to have accomplished what few cryptocurrency initiatives do: catch the interest of regular users. The current Pi wallet user base is around 35 million people, which is an outstanding figure given that the Pi Coin is still not actually available for trading.
How Does Pi Network Work?
According to the Pi Network’s official website, its mission is to build the world’s most inclusive peer-to-peer ecosystem and online experience powered by Pi, the world’s most widely distributed cryptocurrency. The website also acknowledges the difficulties and risks associated with cryptocurrency mining and investment.
The project ecosystem is diverse: it includes features such as Pi Chats, Fireside Forum, and Brainstorm app, focusing on fostering a Web3 ecosystem and enabling community collaboration.
Users within the Pi Network take on various roles:
>>Pioneers are regular mobile app users who engage in mining sessions.
>>After participating in certain activities, users can become Contributors, which enhances their mining rate.
>>Ambassadors increase their mining rate by inviting friends to join the network.
>>Nodes are users who run computer nodes. They contribute to the network’s stability and receive rewards for their efforts.
Mining Pi Coins is facilitated through an energy-efficient process that doesn’t drain the phone’s battery. The network uses a trust-based mechanism, an aspect of the Stellar Consensus Protocol (SCP), to secure its ledger.
The Pi Network’s approach to cryptocurrency is designed to be accessible, with an emphasis on creating a decentralized, inclusive digital environment. The Pi Network explicitly states that its referral program is not multi-level marketing, as it doesn’t involve fiat money and is limited to one level of referral relationship, ensuring fairness and mutual benefit.
Pi’s utility is envisioned as being backed by the time, attention, goods, and services offered by the network members. The future aim of Pi Network is to create a peer-to-peer marketplace where Pi can be directly used to purchase goods and services, enhancing the real-world utility of the cryptocurrency.
Is Pi Mainnet Launched?
No, Pi’s mainnet is not fully open to the public. As per the latest updates, Pi Network is advancing steadily in its Enclosed Mainnet phase. This phase is a crucial step before transitioning to the Open Mainnet. At the time of writing, the launch date of the Pi Network mainnet was officially declared to be between March and June of 2024.
The Pi network has garnered a lot of interest from developers because of its potential for deploying decentralized applications (dApps). These developers have actively participated in several hackathons organized by the Pi Core Team, demonstrating the growing ecosystem around Pi.
Once the mainnet fully launches, the Pi coin is expected to serve as the primary medium of exchange, powering various operations on the Pi blockchain. Some of the planned use cases of the PI cryptocurrency include, but are not limited to, money transfers, NFT transactions, and payments for goods and services. Besides, it is intended to be used in gaming platforms with play-and-earn features.
Is Pi Coin Worth Anything?
What is the worth of the Pi cryptocurrency? As of early 2024, the Pi coin is an unlisted token that is basically worthless. As a result, no historical data on the Pi Network’s performance is available because the token has yet to be officially listed on any cryptocurrency trading exchange. Any PI coin prices you see online and in this article come from IOUs, and their value may not be transferred between exchanges.
The quantity of coins in circulation when the Pi Network is fully launched has yet to be revealed by the project creators. At the time of writing, the Pi coin’s self-reported circulating supply was 68M PI. The maximum supply has not been determined yet.
Pi Coin Price History
According to the latest data gathered, the current price of Pi is $42.27, and PI is presently ranked No. 3309 in the entire crypto ecosystem. The circulation supply of Pi is $0.00, with a market cap of 0 PI.
In the past 24 hours, the crypto has increased by $1.11 in its current value.
For the last 7 days, PI has been in a good upward trend, thus increasing by 9.63%. Pi has shown very strong potential lately, and this could be a good opportunity to dig right in and invest.
During the last month, the price of PI has increased by 7%, adding a colossal average amount of $2.96 to its current value. This sudden growth means that the coin can become a solid asset now if it continues to grow.
The Pi crypto isn’t available on any exchanges yet, which is the one factor that makes it challenging to forecast its price. What does that indicate for Pi coin price predictions for 2024 and beyond?
Since this cryptocurrency’s future is so unpredictable, many experts are very conservative in their Pi network price predictions. The Pi coin neither has a price history for us to analyze nor has it shown how it responds to the price movements of the crypto market and Bitcoin. There’s no market cap or all-time high for us to use in our price predictions, either.
So, what’s left? Well, in a case like this, most experts have no choice but to turn to pure speculation. We cannot even carry out a full-fledged fundamental analysis. To derive the true value of any asset, one has to evaluate its potential and existing use cases, the number of people using or holding it, its future potential, the team behind it, and so on. Depending on the asset, some of these factors will play a bigger role in determining the asset’s price than the others. In Pi’s case, there’s no way to determine the actual number of users that will be holding the coin once it goes live.
Here’s what some crypto experts think in regard to the expected value of the Pi tokens.
Capital
Capital mostly examines the viability of the Pi network open mainnet being launched in the future — and their outlook is mostly neutral. They warn users to be mindful of the possible risks when investing their money (or time) in cryptocurrencies like this one that hasn’t even been officially released for trading yet.
They don’t make an actual Pi coin price prediction and say that the value of the cryptocurrency will heavily depend on its popularity among investors — and it’s something that is impossible to predict.
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