Pi Network is a popular blockchain project that aims to take cryptocurrencies mainstream. It is a project that simplifies how cryptocurrencies work by making it possible for people to mine and transact with digital currencies. For now, it is not possible to buy or sell the real Pi Coin because it is in an enclosed mainnet.
"Pi Cryptocurrency Value Prediction" is different than other cryptocurrencies as it doesn’t require any specific mining hardware for its mining. Users can simply log in to their Pi Network app and mine Pi simply by clicking. This feature has made Pi Network very popular among new investors with very little or no blockchain knowledge.
What Is The Price Of Pi Coin?
The Pi coin was created by a team of Stanford graduates and was launched in 2019 on Pi Day, 14 Match. A free Pi mining app was also provided during the launch, which enabled users to mine the crypto on their phones. Till now Pi coin value is not known as the network hasn’t launched any coin yet.
By June 2019, the crypto had already amassed more than 100,000 active users. By February 2020, the user base had grown to over 3.5 million active users. Today, the network has over 29 million active users, more than double its number of users in March 2021.
To protect its scarcity, the crypto undergoes halving, which is the number of coins awarded for processing a transaction. For instance, the Pi network halved from 1.6 π when it reached 100,000 active users. The process repeated when it reached another milestone of 1 million active users and again when it reached 10 million users. It will continue with the halving process until it reaches zero, when the number of active users will be 1 billion.
Pi Coin Price History & Overview
Pi Network is currently in its closed mainnet. This means that its blockchain is not accessible to the general public. This also means that the coin hasn’t been officially launched yet. Therefore, this makes the trading of real "Pi Cryptocurrency Value Prediction" impossible. The Pi/USD pairs which are available on some exchanges are just derivatives which are not backed by real coins.
Unfortunately, for traders looking to trade Pi Coin, it is impossible to buy it on any platform. People who currently own the crypto have acquired it through mining. The only way to speculate on the current price of "Pi Cryptocurrency Value Prediction" is by trading the derivatives listed on centralized exchanges like Houbi.
Luckily, the platform has made it easy for users to get their hands on the Pi Coin by providing a mobile app that pioneers can use to mine the crypto. They also have an active support and a vast community.
Pi Coin Launch On Houbi
Since Pi network community has millions of members around the world, digital asset exchanges have found a way to cash on it. Due to the immense success of the project, many exchanges have listed Pi coin derivatives on their platforms. If you’re holding cryptocurrency Pi, then you need to understand the difference between spot and derivatives first.
Houbi is a leading exchange that also launched Pi Coin derivatives in December 2022. The following chart shows that the price crashed just days after the listing and now trading at $44.57. However, this is not the real price of Pi coin but just speculation on the price. The true value of Pi network will only be determined once its open mainnet goes live later this year.
How To Sell Pi Coin?
Most holders of the Pi network that are holding thousands of coins want to sell their tokens. It must be noted here that the real Pi coin is not listed on any exchanges. Also, nobody can currently determine the Pi network value as it is still in the enclosed mainnet. You can sell your Pi coin once its mainnet is live and it gets listed on spot exchanges.
Pi Network team has already refused to acknowledge any of the currently listed derivatives of Pi Coin. According to the team, the network is still enclosed, and they don’t approve any exchange-listed products. In fact, it has urged all the exchanges to remove the listings in order to overcome any confusion.
Most users holding the Pi coin also have a lingering question of how much their coin is worth today and how much it will be worth in 2023, 2025, and 2030. All these questions will be answered in this article.
Pi Network Latest News
In the most recent "Pi Cryptocurrency Value Prediction" news, the project has launched a bounty funding program to accelerate development. The funds will be allocated to the developers building in the Pi ecosystem. The applications for the bounty program funding are being accepted right now. The shortlisted developers will be able to receive grants of up to $15,000.
Pi Network was recently offered a Blockchain & Crypto track in the HankNSUT event in India. The event featured students and professionals from over 350 universities. In the hackathon, students coded in Blockchain, Finance, and AI themes.
Over the past few years, the best-performing cryptocurrencies are the ones with the most vibrant communities. Pi Network boasts one of the biggest communities on Twitter, with more than 2.3 million followers. This makes it one of the most followed projects on social media and can increase the hype massively on its launch.
The adoption and market penetration of Pi has been substantial, as evidenced by the number of users and social media followers. As shown below, it has more than 2.3 million Twitter followers, making it one of the most-followed cryptos in the world.
Similarly, its main app has been downloaded by more than 50 million people, making it one of the most popular apps in the crypto industry.
However, its user base has grown exponentially in the past few years, with more than 35 million active users at the time of writing. Its adoption by crypto users has been significant, and it is what we are going to look at.
Mining Pi Coin is pretty simple and can be done by using any mobile phone. Users just need to download the Pi network app and tap on the screen every day to receive their rewards. This is very different from Bitcoin mining, which requires sophisticated equipment to provide hash power to the network.
What consensus mechanism does pi coin use?
Pi Network uses the Stellar Consensus Protocol (SCP). This Consensus Protocol is different than the widely used proof-of-work (PoW) and has also been a major selling point to its users. The consensus mechanism allows transaction validation on a distributed ledger to be executed by order, increasing its scalability and rate of transactions per second.
Another cryptocurrency called Stellar Lumens already uses Stellar Consensus Protocol (SCP). In Stellar Lumens network, most of the nodes are being run by big organizations like IBM. However, in Pi Network, all the nodes will be run by individual users.
Users would be able to use their devices like mobile phones, laptops, and tablets to run a Pi Network node. This can theoretically create a much more robust and decentralized network while also ensuring high scalability.
Pi-USD 4H Chart – Houbi Exchange
As mentioned above, all the current crypto index fund exchange listings are not approved by the Pi team. These listings are only derivatives backed by any spot coins. Therefore it is better to wait for the public launch of the mainnet instead of speculating on the price. This also means the current coins in your Pi Network wallet cannot be sold until the launch of its blockchain.
According to the following chart, the Pi coin value is $44.65. This seems to not be an accurate valuation as the coin is not even out yet. The massive circulation supply of Pi also makes this price highly unlikely. Therefore, you shouldn’t be expecting your Pi Network tokens to be worth anything more than a couple of cents.
Pi Coin Price Prediction 2023
The Pi coin is expected to launch its mainnet soon, which will mark a significant milestone in getting listed in decentralized exchanges.
Many experts predict that Pi coin will be listed on several decentralized exchanges by the second half of this year, allowing traders and holders to convert their coins to cash.
But what will be the price of Pi coin when it finally launches? To answer the price of Pi coin when it starts to trade this year and my general Pi price prediction for 2023, I will use several concepts that help explain why cryptos increase or reduce in price.
The first concept I will use is supply and demand; regardless of whether you are dealing with the Fiat currency or cryptocurrency, oversupply of currency results in depreciation in prices. Therefore, assuming that the supply will be billions at the launch of Pi coin, the resulting prices of the cryptocurrency will be worth pennies. This puts all the dubious price speculations above $1 to rest. Pi Coin price of more than a few pennies would make it extremely overvalued due to its very high circulation.
Pi Network Usecase
The second concept determining how much Pi coin will be worth is its long-term usability. Today, most cryptocurrencies have a premise of solving real-world problems, which has led to people using these cryptos. For example, take the case of Ethereum, which promises to decentralize the financial institution. But, again, these are real-world problems that are getting real-world solutions.
However, this is not the case, as seen with some cryptocurrencies such as Shiba Inu and Dogecoin, which were created as jokes and serve no purpose at their core. Instead, these types of cryptos rely on influencers and high-profile people to market them for them to gain prices. Although Pi network team has mentioned a lot of usecases for the coin, most of them are yet to see the light of day. Therefore, only time will determine the true usability of this new cryptocurrency.
The third and last concept I will use for my Pi Cryptocurrency Value Prediction for 2023 is how the combination of the previous two factors interact, how the supply and demand and the crypto usability affect clients’ willingness to invest in the project. For instance, the project may have high usability but still fail to launch at a higher price because of oversupply or lack of demand.
With all these factors in mind, my Pi coin price prediction for 2022 is the crypto will launch below a dollar. Based on observations of other similar cryptos, I estimate that the prices will launch at around $0.2 to $0.5.
Pi Coin Price Prediction 2025
As stated in my Pi Cryptocurrency Value Prediction for 2023, I expect the crypto to launch in the second half of 2022 at around $0.2 to $0.5.
Based on the implementation of technologies such as The Pi Network’s use of Stellar Consensus Protocol (SCP) and millions of users already using the coin, my Pi price prediction for 2025 indicates that the coin will be bullish from 2023 to 2025. As a result, I estimate that the crypto will be trading at above a dollar by 2025. Of course, this is a conservative estimate, but based on my experience with other similar crypto’s, I expect it to at least range from $1 to 1.5 by 2025.
Pi Coin Price Prediction 2030
While true that it is almost impossible to predict what will happen to the Pi coin in 2030 since it has not yet started trading, we can still speculate its value during that time.
My Pi Cryptocurrency Value Prediction for 2030 is based on factors listed in my previous prediction. My conservative estimate is the crypto will be trading at around $5. By this time, the halving cycles will have made it harder for the new Pi coins to be mined, but billions will still be available. Therefore, I don’t expect the crypto to be above $5 by 2030.
IS PI Coin a Scam?
One of the questions that come up a lot by investors looking to invest in Pi coin is whether the crypto is a scam.
To be fair, it is a very genuine question that needs to be asked because, unlike other cryptocurrencies, Pi coin is currently not exchangeable anywhere. There is also the question of why the project has been delayed so much before getting launched on exchanges.
Today, many investors of the "Pi Cryptocurrency Value Prediction" have no tangible benefits (for now), and the value attached to the crypto is more speculative than objective.
However, based on my observation of the project, I am of the opinion that PI coin is a genuine project. This is because creators have already promised to release it in decentralized markets by the second half of this year.
The project also has one of the biggest communities today. Its creators have never shied away from answering these community members, indicating a willingness to move the project forward.
In its short years of existence, the project has also not displayed signs of being a scam. This is an indication that the PI coin is a genuine project.
Is Pi Coin a Good Investment?
Investing in Pi coin, for now, is purely based on speculative analysis and not the usual fundamental and technical analysis.
Although my analysis is super bullish, speculative analysis is highly risky, and there is a high probability that the prices will not pun out as predicted in my analysis. Therefore, investing in Pi coin comes with huge returns on investment and can also result in huge losses that wipe your investment.