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The price surge in Pi Network Coin comes on a day when the crypto market, including Bitcoin and Ethereum, remained upbeat on Tuesday fuelled by investors optimism.
Pi Network is a Web3 blockchain project that allows users to mine the cryptocurrency on mobile phones, unlike Bitcoin that requires expensive mining equipment.
Pi Network Coin, which is the latest cryptocurrency to hit the market, on Tuesday surged by 13.36 per cent to $1.96 in the past 24 hours. The price surge comes on a day when the crypto market, including Bitcoin and Ethereum, remained upbeat on Tuesday fuelled by investors optimism.
“The PI market has defined the general trend of the crypto market. There is no doubt that the market is growing strongly,” according to a post on binance.com.
Recently, Pi Coin surged after its Open Mainnet launch on February 20. It hit its post-listing peak of $2.94 recently. On February 27, the token gained 36.77 per cent within a day.
As of 18:02 pm, the 24-hour trading volume was down by nearly 8.68 per cent to $99.96 million, with a total supply of 68 million, according to coinmarketcap.com.
What Is Pi Network?
Pi Network is a Web3 blockchain project that allows users to mine the cryptocurrency on mobile phones, unlike Bitcoin that requires expensive mining equipment. The Pi Coins can be earned by just opening the app once daily.
It was started in 2019 by Stanford graduates.
According to Pi Network’s website, “Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem.”
The Pi Network uses its energy-light mining method with its crowd-scaled KYC solution to provide access and identity verification for Web3. It is free to mine on mobile, putting power into the hands of people for a fairer, more distributed crypto.
The network is immutable, non-counterfeitable and uses interoperable digital money. The app does not drain the mobile battery.
According to reports, around one crore users were already part of the Pi Network who were waiting to migrate their mined Pi Coins from the testnet to the mainnet, which finally comes after a delay of two years.
How To Buy?
The Pi Network Coin is now listed on major exchanges like CoinDCX, OKX, and Bitget. Users need to install any of the app, complete KYC, and add money to the app’s wallet to buy the crypto.
Pi Network Price Prediction Mainnet Launch
According to Fortune India, if Pi Network evolves into a widely accepted digital currency with real-world use cases, its price could exceed $500 by 2030.
Meanwhile, other cryptocurrencies, including Bitcoin, Ethereum, BNB, XRP and Solana, also saw large drops on Friday falling between 6.6 per cent and 8.6 per cent.
Will It Hit $10?
Experts predicted that if the price of PI breaks above the $1.90 level with strong volume, a rally toward $10 could follow, according to binance.com.
They warn that if it fails to break the level, selling pressure could pull the price downwards strongly to a low of $1.54.They also point out that bulls must hold support above $1.74 to confirm a bullish breakout. The current price of PI stands at least 1.06% below the key level of $1.90, it added.
