PI Network has been involved in production for nearly six years, with reportedly 70 million users riding, and will open its main network on February 20, 2025.
This is a paradigm shift in the ecosystem, marking that users can connect to external wallets and can list $pi on the exchange. But what does this mean for the $pi price? Find out the answer in this PI network coin price forecast.
$pi iou lost 55% in 24 hours
Since its initial development in 2019, the PI network has been running in TestNet and in closed primary network environments. Thursday, February 20, it will be the first time interoperating with other blockchains where holders can cash out their $PI.
However, some exchanges offer speculative trading through IOUS, where traders bet on Pi Coin’s future value.
Pi Coin IOU is currently trading at $29, down 55% today as traders exit before possible sell activity.
PI Network provides users with a unique opportunity to mine Pi coins from their mobile devices without the need for professional hardware.
However, it seems speculative traders are shocked by the upcoming transition to Open Mainnet, as this is the first time these users can sell their PI coins.
On the other hand, the transition allows PI coins to be listed in the main centralized exchange, which can provide some relief as new buyers invest in the coins.
But back to the potential risks, COINTELEGRAPH Report “inflated user count and weaker activity”. Once the exchange is reached, this may prevent new investors from buying Pi coins.
Additionally, there is no known cap supply for PI coins, and data shows that their circular supply doubled last year. This threatens its long-term value and adds to the shortcomings of potential buyers.
Analysts say “Don’t sell your PI coins”
A popular PI Coin Community member with 130K YouTube subscribers urges the “pioneers” not to sell their coins immediately on the exchange list.
“This is one of the most unique releases ever in cryptocurrencies” because there are no centralized entities involved except for the PI network team.
Analysts also point to the dynamic PI network community, which is reflected in the large amount of engagement in Binance X’s post on potentially listing the project.
In the best case scenario, analysts say PI coins could be one of the top ten cryptocurrencies in market cap division. He also mentioned a price target of between $300 and $1,000 per coin.
https://www.youtube.com/watch?v=2tfur-ivc-g
However, analysts stress that this requires the community to coordinate rather than sell – but history tells us that it rarely happens.
Last year, tens of millions of users Notcoin and Hamster Kombat launched the highly anticipated air conditioning.
Both coins collapsed significantly after the initial hype spike. Notcoin is now 71% lower than its offering price, while Hamster Kombat is 81% lower than its offering price.
If the Pi coin follows this path, it could trade as low as $6 by the end of the year.
Just like Notcoin and Hamster Kombat, $PI certainly has a selling price that can see prices soar immediately after the exchange is listed. However, with unlimited supply supply and sales pressures, its long-term price action appears to be bearish.
Can this new Solana L2 cryptocurrency perform better than PI coins?
A new project is developing the Layer 2 blockchain ever for Solana, with the aim of advancing the most vibrant ecosystem in cryptocurrencies.
Solana is already the top ten cryptocurrencies in market capitalization, with a valuation of $80 billion. But for the moment, investors can buy Solana tier 2 Solvent From the bottom layer through its ongoing pre-sales.
Solaxy is not available on the exchange, but people can buy it directly from their website or use the best wallet app. Unlike PI coins, $SOLX holders invest in their position that offers the price of safety nets and increases the possibility of long-term holdings, and everyone gets free of charge compared to the holder base. currency.
The new Solaxy Tier 2 is designed to change the way users interact with Solana. It will utilize off-chain computing and transaction bundling technology to make transactions cheaper, faster and more reliable. This will eliminate the congestion problem Solana has faced for years.
Analysts are very optimistic, and Claybro recently called it “the next cryptocurrency that exploded in a bull market.”
https://www.youtube.com/watch?v=cuc3ohrcd2k
So far, Solaxy Presale has raised over $22 million, showing a lot of community support.
The current $SOLX pre-sale price is $0.00164, but will rise throughout the ICO.
Visit Solaxy Presale
