The crypto project Pi coin has been in existence since 2018. According to its founders, the blockchain protocol was created so anyone could mine Pi from a mobile device. Although the project has not made a public launch, the interest in the Pi network continues to grow.
In this review, we explore the Pi coin price prediction, where it is and how it could perform in the future. We also show you the best place to buy Pi for low fees.
|⩎ Coin name||PiCoin|
|🔆 Coin Symbol||PI|
|⏳ Price Change 1h||0%|
|🌕 Price Change 24h||0%|
|💵 Market Cap||$0|
|🥇 24h Volume||$0|
|🌐 Circulating Supply||0|
|🔄 Total Supply||1,378,369|
Pi Coin Price History
Before making an investment decision, it is recommended that you understand what the Pi project is and the issues it aims to address. The Pi network is relatively new compared to industry behemoths like Bitcoin and Ethereum. The blockchain protocol was officially inaugurated on March 14, 2019, by a group of Stanford graduates.
According to its whitepaper, the Pi network is meant to fulfil the first principle of cryptocurrencies, as postulated by Bitcoin anonymous creator Satoshi Nakamoto. It is meant to give back financial power to the masses. This is the underlying motive of the project.
The Pi network aims to create a smart contract functional platform secured and operated by the average person. The protocol aims to foster the world’s most inclusive peer-to-peer (P2P) marketplace powered by the Pi utility token.
The influx of deep-pocketed corporations drives the network to focus on truly decentralising digital assets into the foremost digital asset network, Bitcoin. Given the relative mining difficulty of the Bitcoin protocol, only individuals and companies with vast resources can validate transactions in return for the network’s tokens. The Pi network aims to build a long-lasting minable protocol ideal for smartphone users.
Despite the low entry bar, the Pi network comes with all the benefits of a blockchain-driven initiative. This includes censorship-resistance, permissionless transactions between two parties, pseudonymity, and an equal financial playing field for all.
The Pi development team has ensured that they do not rely on the often-criticized proof-of-work (PoW) consensus algorithm to become future-proof. Instead, the protocol runs on a novel consensus mechanism called Federated Byzantine Agreement (FBA). This is a breakdown of the famous Stellar Consensus Protocol (SCP) used by the Stellar blockchain.
While the Stellar network relies on companies and institutions to serve as node validators, Pi’s FBA allows regular individuals to use their devices to secure the network while getting rewarded.
The framework of the Pi network is divided into four roles, including Pioneer, Contributor, Ambassador, and Node. The Pioneer occupies the least position on the Pi hierarchical ladder; it involves a regular mobile phone user who signs in regularly to mine. A contributor has a list of Pioneers who work under it to secure the network. An Ambassador works to bring more people into the network while the Node runs the core SCP algorithm.
Taking its cue from first-generation blockchain networks like Bitcoin, the Pi network intends to create an idea of token scarcity while ensuring that a sizable amount of the tokens are not concentrated in the hands of a few people.
Given this, the Pi economic model operates on four different models:
- Simple – Creating an intuitive and transparent economic model
- Fair Distribution – The asset’s price would give several people access to Pi tokens, unlike the first-generation protocols
- Scarcity – Create a form of scarcity to maintain its price
- Meritocratic Mining – Incentivising user engagements by rewarding their contributions to the network
Although the Pi network is still in development, the blockchain project has seen widespread adoption. The protocol had over 100,000 active users in June 2019 and above 29 million in May 2020. Today, the Pi network is over 33 million users strong.
To keep its value relatively affordable, the Pi network uses the halving method. The first halving occurred when the network hit the 100,000 user benchmark and dropped to 1.6 pi per hour. The second halving occurred when it crossed the One million-member mark and dropped to 0.4 pi per hour.
The minable smartphone network has been building its ecosystem. It released its Phase 2 testbed in April 2021. This allowed users to test the Pi browser and wallet. Phase 3, deployed in December 2021, included the launch of the network’s first-ever hackathon event.
Here’s a detailed summary of everything we’ve covered on Pi network price prediction thus far:
- Pi network aims to make it easy for anyone to own crypto.
- This is done by allowing anyone to mine the Pi coin on their mobile device without negatively impacting their battery life.
- Pi uses Stellar’s FBA mechanism, making it more secure and modern than the PoW consensus algorithm.
- The mining capability of users depends on the growth of its ecosystem as the network employs halving to protect the Pi coin value.
- The network’s Phase 3 was on schedule, and we expected it to be in full swing in 2023.
- Pi was listed on cryptocurrency exchanges at the beginning of 2023, which allowed it to peak above $292 before retracing.
Pi Coin Price Prediction 2023
For Pi coin to remain relevant in the crypto space, the new decentralized payment solution would need to ramp up its fundamental metrics to stay on par with other assets. This is inevitable, and given its broader scope of community acceptance, the fundamentals should not be hard to come by.
Use as a payment method by several businesses and merchants would likely see the value of Pi coin hit new highs. After the project completion and subsequent listing of the project on cryptocurrency exchanges, CoinMarketCap reported that Pi reached above $290 before retracing. The retrace was rapid until an accumulation around the $27 mark was reached.
Pi Coin Price Forecast Long Term Outlook 2023 – 2025 Prediction
Pi coin is expected to continue its blockchain integration march. A crucial metric for its success would be to build up its developer ecosystem. The launch of Phase 3’s hackathon indicates what the network intends in the long term.
Given its use of the Stellar Consensus Protocol (SCP), it would be easy for decentralised applications (dApps) to build and onboard the smart contract platform.
A strong developer ecosystem would give more use cases for the Pi token. Network upgrades are also expected, and a foray into the non-fungible token (NFT), decentralised finance (DeFi), and Metaverse ecosystems would do the digital asset a world of good. This could propel the price action of the Pi coin well above the $60 range in 2025.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Potential Highs & Lows of Pi Coin
Pi’s price grew up in a major way thanks to the anticipation that has been building around its ecosystem for the past two years. The tokens’ value on CoinMarketCap peaked at $292 before a 91% retrace happened and pushed the value to just above the $27 mark.
However, the token’s potential still persists. And as the demand to make crypto more mainstream rises, the payment solution it offers will be looked at positively by the regulatory framework, which would be better for this token in the long run. Here are the potential highs and lows of this token.
|Year||Potential High||Potential Low|
What is Pi Coin Used For?
What are the likely use cases for this decentralised cryptocurrency? Let’s explore 5 of the most obvious use cases for this new cryptocurrency.
Network Transaction Fees
Pi token powers the Pi blockchain. This means the token would play a significant role in the running of the protocol. All network transactions would be charged and paid with the token. Development teams using the smart contract network would need to hold Pi tokens to tap into the network’s resources.
Pi network will also feature a decentralised autonomous organisation (DAO). The Pi token is expected to serve as the governance token for the DAO. Token holders would be able to vote on proposals for the network.
For the time being, the Pi token is used to incentivize user participation in the network. Users who sign in and click on the ‘Mine’ button to secure the network can easily earn their rewards in Pi.
Scales Trust Across the Web
Permissionless transactions are becoming the norm, and the Pi token is uniquely positioned to engender this novel concept. Here, two parties can easily send and receive digital assets in a trustless manner without a third party.
Balances Scarcity Using Bitcoin Model
Bitcoin has a hard-cap limit of 21 million coins. This makes it deflationary and scarce, thereby pushing the value of BTC ever higher with growing demand. The Pi network also taps into this model by halving the mining power of its token. This reduces the possible amount a miner earns from securing the network.
However, the Pi network balances this scarcity by rewarding contributors based on meritocracy and not how many resources they have. The protocol also ensures that a wider sample of the world’s population owns the Pi token by allowing individuals to only mine from a device and not multiple devices like other protocols.
What Drives the Price of Pi Coin?
Pi coin is expected to make a splash in the crypto market once it launches. In this section, we would explain the driving forces behind its expected growth?
Broader Crypto Market Trend
2021 was a bellwether year for digital assets, and this year is expected to continue the trend. Several businesses and institutions are already concluding that crypto-assets are here to stay. If the crypto market continues to trend, the Pi token would likely rally or dip with the other digital assets.
Current User Growth
The Pi network is one of the densest ecosystems available. Still, the protocol already has 29 million-plus active miners and users securing its network in beta. This is a fully-programmed space ready to explode once the network eventually goes live.
Eventual Listing On Centralised Exchanges
Centralised exchanges like eToro and Binance play a crucial role in crypto adoption. They are usually the safest and most benign ways users can access the crypto ecosystem. If the Pi coin makes a centralised launch, we could see a huge surge in its value. This could see the self-billed people’s currency shoot to over $2 before the year runs out.
Where to Buy Pi Coin
Investors who have taken the time to look at the Pi network price prediction are usually interested in where they can buy the crypto asset.
Looking to buy Pi coin? The most recommended platform is eToro.
eToro is a social trading platform that allows investors to buy cryptocurrency safely. The social trader platform is known for its easy setup and trading crypto assets for low fees. Looking to buy Bitcoin or any other crypto, eToro is the platform of choice.
When you register with eToro, you won’t be charged for registration, account management or any overnight fees. The crypto exchange only charges a uniform fee of 1% when traders open and close crypto positions.
Investors can also use the CopyTrade, and CopyPortfolio features to invest in the best Web3 coins. eToro’s copy trading feature allows newbie traders m to replicate the strategies of skilled traders to generate profitable trades. To safeguard user accounts, the platform employs strong encryption and masking technology. The platform also employs two-factor authentication as a security measure to verify new logins.
The minimum deposit on eToro is $10 for US and UK customers. To fund your account, eToro accepts payments via eToro money, credit/debit cards, PayPal, Skrill, Neteller, and other e-wallet services.
Over 60 cryptocurrencies are available for investors to buy, sell, or trade on the social trading platform. At the moment, eToro has not listed Pi currency yet as a tradable asset. This could change in the future, as the exchange regularly adds crypto assets to its platform.
Cryptoassets are a highly volatile unregulated investment product.
Is Pi Coin the Best Crypto to Invest in?
We have reviewed the price of Pi coin and discussed the main features of this cryptocurrency asset. However, we believe there are some better alternatives to Pi Coin.
Love Hate Inu – Newly Launched Memecoin with Excellent Fundamentals
People hardly use the words “strong fundamentals” with a memecoin, but that has changed since last year with the arrival of many tokens that look like a memecoin but carry an excellent utility. Love Hate Inu is in the same boat – however, unlike the recently launched memecoins, whose utilities are limited to staking and P2E, it wears its memecoin nature proudly.
The project mixes the social nature of memecoin – a nature that has the potential to bring the community together – with a DAO concept of voting. Here, users can vote on different kinds of polls and earn rewards from them.
Running with the concept of Vote-2-Earn, Love Hate Inu exists to challenge the current online survey system and seeks to empower people to create their own polls and redefine how people interact with social media platforms.
Helping with that factor are three elements – the voting system, the polling system, and the management dashboard.
The voting system is a staking utility that allows users to stake their LHINU tokens to vote and earn regular rewards. With the polling utility, users can spend their LHINU tokens to create their own polls. Management of these polls is done through the management dashboard.
This simple utility has many upsides in the world of marketing and social media interactions – which is why Love Hate Inu’s presale has already raised $7 million at press time, and is close to selling out.
Love Hate Inu – LHINU – is an ERC-20 token with a total supply of 100 billion. 90% of this supply – 90 billion tokens – has been dedicated to the presale – and the remaining 10% is being kept with the developers for listing, liquidity, and rewarding purposes.
|Presale Started||8th March 2023|
|Purchase Methods||ETH, USDT, Transak|
In conclusion, this Pi coin price prediction has discussed our forecast for the month and years ahead for Pi. We explored the token’s use case and potential in the market once it launches. Pi Network promises to solve web-scale issues while balancing the scarcity and availability of crypto assets. However, while millions of people have signed on as active users, the network model and its exact launch date remain a mystery.
Alternatively, we recommend $LHINU tokens, memecoins that allow you to participate in a unique Vote2Earn platform to earn passive gains.
Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
- Experienced NFT Project Founders
- Listed On OKX
- Staking Rewards
FAQs on Pi Coin
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