- The Pi Network’s mainnet launch could happen in early 2025, with key milestones like KYC verification completion, development of a strong ecosystem, and favorable crypto market conditions still to be achieved.
- While Pi coin has experienced significant price volatility, it remains bullish with potential for future growth as the mainnet launch approaches.
The Pi Network Surge and Anticipation
The Pi Network has been making waves in the cryptocurrency community, with its price surging almost 100% from its lowest level this year. As of Tuesday, Pi was trading at approximately $57, creating an air of optimism as the community anticipates the much-anticipated mainnet launch.
Key Milestones Leading Up to the Pi Mainnet Launch
1. KYC Verification Deadline Approaching
A significant factor influencing the Pi Network’s mainnet launch is the ongoing KYC (Know Your Customer) verification process. Over the past few months, millions of pioneers have been completing automated verifications, with the initial grace period ending on November 31st. Following an extension, the deadline is now set for December 31st. As the countdown continues, it is uncertain whether the mainnet launch will occur this year, but developers remain hopeful for an early 2025 transition.
2. Building an Ecosystem
Another crucial factor for the Pi mainnet launch is the development of a robust ecosystem. Developers aim to have at least 100 mainnet-ready applications to provide utility for the Pi coin. Currently, there are around 60 applications in existence. While this number is below the desired threshold, there is promise, given that over 27,000 businesses are already registered to accept Pi as a form of payment. This growing acceptance could accelerate the network’s utility and adoption.
3. Crypto Industry Environment
The external environment plays a pivotal role in the success of the mainnet launch. A favorable regulatory landscape and a thriving crypto industry are essential for ensuring the transition to an open network is smooth and well-received. Developers will only proceed when market conditions are conducive, signaling clarity and stability in the broader cryptocurrency sector.
Pi Network Price Trends and Future Outlook
Over the past few months, Pi coin has displayed significant volatility. From a low of $30 earlier this year, it rebounded to $99.82 in October before experiencing a temporary drop to $90 in November. Despite the fluctuations, Pi has maintained an upward trajectory, supported by a robust ascending trendline and staying above the 100-day Exponential Moving Average. This signals bullish momentum, with potential for further gains as the mainnet launch draws closer.
Future Prospects for Pi Network
Should the Pi Network successfully meet its key milestones, a mainnet launch is expected early next year. This would align with expectations for a more robust Pi ecosystem, greater utility through applications, and a supportive regulatory environment. As the crypto community awaits further updates, the $100 resistance level remains a significant target, with a continued rise likely upon clearer mainnet launch timelines.
While December 2024 remains a tight timeline for the Pi Network mainnet launch, the broader picture hints at a promising future for Pi coin in 2025.
