The launch of Pi Network’s mainnet is creating a buzz in the cryptocurrency world. With speculations about Pi Coin’s potential price surge, this article dives deep into the factors influencing its value and what the crypto community might expect as the mainnet goes live.
Points
- Pi Network is set to launch its mainnet by the end of 2024.
- The current total supply of Pi Coin stands at 68 million out of a potential 100 billion.
- Speculations suggest a potential price surge ranging from $43 to $86 post-launch.
- Pi Coin’s price is expected to fluctuate significantly based on user adoption and liquidity.
As the Pi Network gears up for its highly anticipated mainnet launch towards the end of 2024, the speculative frenzy around Pi Coin’s future price is reaching a fever pitch. Cryptocurrency enthusiasts and early adopters alike are keen to understand how the mainnet launch might impact the value of their mined Pi Coins. With the ongoing KYC process, which facilitates the migration of Pi Coins to the mainnet, the anticipation has only intensified.
Tokenomics of Pi Coin
Pi Network has implemented a unique tokenomics model that could play a critical role in stabilizing its value. As of August 14, 2024, the total supply of Pi Coins stands at 68 million, with a maximum cap of 100 billion coins. Out of the mined Pi, 80% is locked under a three-year vesting period, designed to prevent sudden market inflation and stabilize the coin’s value. This vesting period is crucial because it limits the immediate availability of Pi Coins, thus potentially preventing a price drop due to oversupply.
Various factors, such as the timing of the mainnet launch, user adoption rate, and the impact of the vesting period, will be pivotal in determining the future value of Pi Coin. A vesting period that’s too restrictive could stifle liquidity, making it difficult for the price to grow. On the other hand, releasing too many coins too quickly could flood the market, leading to a sharp price decline.
Speculative Price of Pi Coin Post-Mainnet Launch
One of the most pressing questions on every Pi user’s mind is, “What will Pi Coin be worth after the mainnet launch?” Although the Pi Network has not held any ICOs or crowdfunding campaigns, which often provide additional liquidity, its price will largely be driven by its utility and the tokenomics model in place.
Early Predictions and Technical Analysis
Crypto analysts predict that if the mainnet successfully launches in 2024, Pi Coin could initially trade between $43 and $47. As the market begins to absorb the implications of the launch and more users participate in the ecosystem, the price could gradually rise. In the early stages, Pi Coin might see a surge between $58 and $74. By August 2024, analysts believe the price could stabilize between $73 and $86, assuming the network achieves broader adoption.
In the short term, the price is expected to fluctuate as Pi Coin integrates into the wider crypto market. Long-term forecasts are even more optimistic, with some suggesting that Pi could potentially trade between $55 and $70 by the end of 2024. If the network manages to achieve widespread adoption, there is speculation that Pi Coin could reach $200 or more by 2025.
Technical indicators also support the potential for price growth. The 200-day Simple Moving Average （SMA） for Pi Coin is projected to rise, indicating a bullish sentiment. The Relative Strength Index （RSI） currently sits at a neutral level, suggesting that the market is balanced and ready for potential growth.
How to Withdraw Pi Coin
As of now, Pi Coin remains in its pre-release phase, and it is not yet available for trading on any cryptocurrency exchanges. Users who have mined Pi Coins will only be able to withdraw or exchange them during Phase 3 of the project, once the cryptocurrency moves from the testnet to the mainnet.
During the current testing period, Pi Coins cannot be transferred to avoid concentration by fake accounts. This means that wallet balances will only be honored after the mainnet launch, when the blockchain is fully deployed. The official statement from Pi Network emphasizes that Pi is still in the Enclosed Network phase and has not been approved for listing on any exchange.
In Phase 3, Pi holders will be able to use their coins to purchase products and services on Pi’s peer-to-peer marketplaces, provided they have control of their public and private keys. Without these keys, Pi holders cannot spend their cryptocurrency.