Pi Network’s IoU price has seen a significant surge, reaching $91, its highest point since October 26. This upward trend is fueled by growing anticipation for the highly anticipated mainnet launch. The Pi Coin token, currently trading at $75, has experienced a remarkable 145% increase from its July low.
The November 30 Deadline
The upcoming November 30 deadline for the Know Your Customer (KYC) verification process is a pivotal moment for the Pi Network. Once this phase concludes, the project will be one step closer to its mainnet launch.
KYC verification is a crucial step to ensure the integrity of the Pi Network ecosystem and prevent the presence of bots. All pioneers are required to complete this process to claim their accumulated Pi coins during the designated period.
Mainnet Launch Expectations
With the KYC verification nearing completion, only two more hurdles remain before the mainnet launch, expected in December. The developers have outlined the remaining criteria: an active ecosystem and a favorable market environment. The current surge in cryptocurrency prices and improving US regulatory landscape suggest that the latter criterion is being met.
The Pi Network’s ecosystem, boasting over 30 applications, is another positive indicator. As the mainnet launch approaches, the number of developers is likely to increase, further enriching the platform’s utility.
The Role of IoU Price
The Pi Network IoU price is expected to continue its upward trajectory as the mainnet launch draws near. If the momentum persists, the coin could potentially reach its year-to-date high of $122, representing a 67% increase from the current level.
It’s important to note that the Pi Network IoU is not directly affiliated with the main project. It emerged as a token in 2022 after the original project’s mainnet development phase extended beyond expectations.
Post-Mainnet Price Outlook
While the mainnet launch is highly anticipated, it’s essential to consider the potential price fluctuations that may follow. Key details such as the initial coin price and the exchanges that will list Pi coin remain undisclosed.
Historically, “to earn” tokens, including those obtained through tap-to-earn, move-to-earn, and play-to-earn mechanisms, have experienced significant price declines after initial hype and airdrops. This trend suggests that the Pi coin price might also face a downward correction after the mainnet launch.
As the Pi Network community eagerly awaits the mainnet launch, it’s crucial to approach the project with realistic expectations and a long-term perspective.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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