Pi Network's Pi Coin Maintains Position on CoinMarketCap Despite Difficulties in Binance Listing
Pi Coin, a subsidiary of Pi Network, has achieved a significant position on CoinMarketCap, consolidating its influence in the crypto world. Despite not being listed on major exchanges, Pi Network's growth continues to be strong, evident in the growth in the number of users and circulation of the coin.
Pi Coin Growth and Circulating Supply Increase
The latest data shows that Pi Coin is now ranked 11th on CoinMarketCap, with an estimated market capitalization of over $12 billion. This is a significant milestone for Pi Network, showing the great appeal of this altcoin in the crypto community.
At the same time, the circulating supply of Pi Coins has also increased significantly since the mainnet was launched in February. From an initial figure of 6.3 billion, the current circulating supply has increased to 6.9 billion, an increase of 9.5%. This reflects the strong level of activity in the Pi Network community, with more Pi coins circulating through user activities.
The widespread popularity and download rate of the Pi Network app
The Pi Network app has seen rapid growth, with over 113.2 million downloads on the Google Play Store. This demonstrates the popularity of the project, especially among those interested in mining cryptocurrencies via mobile devices.
According to many analysts, the main reason why Pi Network attracts a large number of users is due to its ease of use and simple mining model. In addition, the acceptance of Pi as a means of payment by a number of online merchants and platforms has contributed to enhancing its utility.
Challenges and opportunities for Pi Coin
Although Pi Coin has an impressive market capitalization, its exact valuation remains a controversial topic. Analysts have different views on the true value of Pi Coin, including factors such as technological value and Global Consensus Value (GCV).
However, a major challenge for Pi Coin is the delay in listing on Binance - one of the largest cryptocurrency exchanges in the world. Although up to 86% of users supported listing Pi Coin on Binance through a community vote, the process has not been completed. This has disappointed many investors, affecting the price growth momentum of Pi Coin.
Pi Network’s Future Outlook
Despite the challenges, Pi Network is still on a strong growth path. Milestones such as its high position on CoinMarketCap and growing user base show that Pi Network is asserting its position in the cryptocurrency space. Positive developments in the near future, including the possibility of listing on major exchanges, will likely be the driving force for Pi Coin to continue to grow strongly.
