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07/13 04:43

Pi Network Delays Full Launch Until Pi Coin Price

Pi Network Delays Full Launch Until Pi Coin Price Reaches Stable $10 Target Price.

Pi Network is delaying its full launch, aiming for a stable $10 Pi Coin price.

The underlying infrastructure is ready, but the ecosystem lacks the capacity to scale DApps and P2P.

Frustration is growing over slow KYC approvals, wallet migrations, and reward retention.

Pi Network has come a long way in its six-plus years of operation, but its journey remains long and uninterrupted. Despite the basic infrastructure being ready, the ecosystem is not yet capable of handling large-scale decentralized applications (DApps) or real peer-to-peer (P2P) economic transactions.

Additionally, users are increasingly frustrated by repeated failures related to Know Your Customer (KYC) approvals, wallet migrations, and promised token rewards.

 Some, however, argue that the slowdown is a long-term plan. Crypto commentator Dr Altcoin is one such person, and he believes that the Pi Core Team (PCT) is intentionally slowing down the full network activation to ensure the long-term success of the project.

According to Dr Altcoin, the Pi Core Team has done the necessary work. However, even after years of development, the cryptocurrency is still not ready to handle large-scale P2P transactions and the thousands of DApps that the project so desperately needs. The most important thing that is happening right now is the price discovery process. The speculative value of Pi Coin has fallen from $3 to $0.40 on unofficial trading platforms. At the time of writing, Pi is trading at $0.4589 with a 24-hour trading volume of $233.92 million and a market cap of $3.17 billion. The price of PI has fallen by 7.51% in the last 24 hours. 

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