Pi Network Latest Market Trends and Ecosystem Development

According to Gate.io data, the price of PI coin is currently $1.38, with a 24-hour decline of 12.46% and a trading volume of $3.7 billion. Since its launch on Gate.io on February 20, PI coin has reached a peak of $3, more than 60 times higher than the opening price of $0.049. The current circulating market value is $9.92 billion, ranking 11th in the market.

Pi Network Eco

Pi Network was founded by Stanford graduates in 2019, using the energy-saving Stellar Consensus Protocol (SCP), allowing users to mine through smartphones and reducing the entry barrier. Currently, the number of Pi Network users has exceeded 60 million, laying a solid foundation for future growth and applications.

The eco is composed of five core roles:

• Pioneers: Earn PI coins by opening the app.
• Contributors: mine at a higher rate and build a secure circle to enhance network security.
• Ambassadors: Invite new users to expand the network.
• Nodes: Running node software to maintain a decentralized network.
• Node Ambassadors: Attracting developers to build dApps in the Pi eco.

Pioneer is the foundation of the network, and earns Pi coins by regularly opening the application. This accessibility is a key factor in the rapid growth of the Pi Network; contributors take on a more active role, mine at a higher rate, and build a secure circle to enhance the network. Ambassadors play an important role in the viral growth strategy of Pi by focusing on network expansion through inviting new users; the technical foundation of the Pi Network is supported by nodes, which maintain the integrity of the decentralized network by running node software on computers; Node Ambassadors further enhance the eco by inviting developers to build applications on the Pi Network, promoting innovation and expanding the platform’s utility.

These diverse roles create a comprehensive eco that encourages users to participate at different levels. By allowing users to contribute in ways that suit their skills and interests, Pi Network has created a unique inclusive and participatory cryptocurrency platform. This approach not only drives user growth, but also fosters a strong sense of community among Pi Network participants.

Pi Network Future Outlook

Pi Network officially launched its mainnet in mid-February, which is a key milestone in the project’s development. Initially planned for release in 2022, the mainnet was delayed due to eco improvements and KYC progress. The open network will remove firewalls, allowing connections to external networks, wallets, and third-party platforms, while also lifting API call restrictions. Currently, over 2 billion PI coins have migrated to the mainnet, demonstrating users’ confidence in the future. The open network will enhance the utility of PI coins and drive their value potential.

Pi Network, with its unique mobile mining model, energy-saving mechanism, and multi-level user participation , has become an innovator in the field of cryptocurrency. As the era of open networks approaches, Pi is transitioning from a simple mining application to a complete blockchain eco, demonstrating the potential for democratization of digital assets.

Risk Warning: The cryptocurrency market is volatile, regulatory changes may affect the development and token value of Pi Network, investment needs to be cautious.