Pi Network (PI) Faces Price Drop Amid Ongoing Developments
The price of Pi Network (PI) has decreased to $0.22, despite significant advances in the project's ecosystem.
Pi Network (PI) Faces Price Drop Amid Ongoing Developments
The price of Pi Network (PI) has dipped to $0.22, following a trend seen across the broader crypto sector. This decline occurs in the face of ongoing advancements in the Pi ecosystem.
Despite this recent drop, PI continues to be one of the few among the top 100 digital currencies maintaining a positive trajectory over the past two weeks.
Engaging with AI and Beyond
Last week, Pi Network announced a partnership with OpenMind, a company specializing in robotic operating systems. This collaboration represents its initial investment in the Artificial Intelligence (AI) sector, aimed at expanding the utility of PI and integrating the token into practical applications.
OpenMind expressed enthusiasm about the collaboration, emphasizing the shared vision of “utilizing blockchain to create real-world impact.” However, the specific amount of the investment remains undisclosed. Recently, Pi Network reiterated this partnership, stating:
“Pi Network and OpenMind’s proof-of-concept project, where OpenMind’s AI models can run on Pi Node infrastructure, explores the capability of Pi’s global network of nodes to support decentralized AI training and computing tasks.”
Market Position
As of now, PI is valued at approximately $0.22, reflecting a 4% decrease in a single day, which aligns with a general downturn in the crypto market. However, over a 14-day period, it shows a 12% increase, suggesting resilient performance despite fluctuations.
Factors likely influencing this positive outcome include the recent developments and the aforementioned AI partnership.
Current Market Metrics
- Market Capitalization: $1.9 billion
- Current Rank: 66th in the crypto space
Future Speculations
Pi Network boasts a strong community, many of whom anticipate a substantial price surge in the upcoming years. One user, known as Lord Drey, forecasts that PI could reach $3 - $5 by 2028, citing favorable fundamentals as a basis for this optimism.
Conversely, a rise in tokens being moved to exchanges indicates potential selling pressure. More than 600,000 PI tokens have been transferred in the last day, implying an impending correction.
The next month will see the release of nearly 130 million tokens, offering holders an opportunity to sell positions they have held for some time.
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