🌎 Pi Network Token Price Consolidates Ahead of Mainnet Launch

Pi Network Token Price and Mainnet Launch: What You Need to Know

The Pi Network token price has been in a consolidation phase since March, as investors eagerly await the launch of the mainnet.

Current Price Status

The IOU token has been hovering around $40 in a low-volume environment.

Upcoming Mainnet Launch

There are indications that Pi Network developers are preparing for the much-anticipated mainnet launch. Earlier this year, the team outlined three conditions that must be met for this to happen:

Verification of at least 15 million pioneers to remove bots from the ecosystem. Currently, over 11 million pioneers have passed this stage.
A six-month grace period, which began on July 1, for all pioneers to complete the verification process. If the conditions are met, Pi may transition to the Open Network by December or January.
The development of at least 100 dApps to create utility for the token. The exact number of dApps in the current enclosed mainnet period is unclear.

In addition, Pi Network aims to launch its airdrop when market conditions are favorable, specifically when cryptocurrencies are on the rise.

Pi Coin IOU Price Movement

The Pi Network IoU, launched in 2022, is available on a limited number of exchanges. Initially, it surged to $343 before plummeting after the developers disowned it. The most significant price jump occurred in March, when Bitcoin reached a record high, pushing the token to $120 before it settled back to $40, where it has remained since.

The token is thinly traded, with an average daily volume of less than $600,000, making it a poor indicator of how the real Pi will trade once listed on major exchanges.

Comparative Analysis with Tap-to-Earn Tokens

Recent events in the tap-to-earn sector provide insights into what to expect when Pi Network is listed on major exchanges. For example, Notcoin, the first tap-to-earn token to go public, initially rose to $0.030 in June before dropping to $0.016. Similarly, the Pixelverse (PIXFI) token surged to $0.10 before falling by 50% to $0.050.

While the technologies differ, Pi Network shares similarities with tap-to-earn platforms, as pioneers earn tokens by simply tapping the app button. These platforms also offer utilities like gaming.