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The post Pi Network News: 12 Million Users Onboarded, But $1 Target Still Distant appeared first on Coinpedia Fintech News

Pi Network has successfully migrated over 12 million users to the mainnet with a circulating supply of 8.04 billion. This represents less than 10% of the 100 billion maximum supply of Pi Network. 

But despite all the developments, an expert noted the ongoing risks on Pi from its structural inflation and explained why it is hard for Pi to reach $1. 

How Is Reaching $1 in Pi still a Challenge?

In a recent post on X, cryptocurrency expert Kosasi Nakamoto explained that PI has dropped 17% due to faster migrations over 30 days. Other than that, it has fallen 45% over 90 days due to failure to differentiate from competitors’ risks. 

The network even launched several new projects, like the Protocol 23 update, which introduced  Linux-based nodes, decentralized KYC, and scalability improvements. Alongside that, it also introduced PiOnline gaming/DeFi ecosystem, just to boost the adoption rate. But competition from low-cost remittance projects, like Remittix, challenged Pi’s valuation.

Remittix diverted the investor attention from Pi and drew away its capital with its stronger real-world utility, institutional backing, and clearer roadmap. Nakamoto wrote, “Competitors like Remittix, offering low-cost remittance solutions (0.1% fees), pose a challenge to Pi’s speculative valuation.”

Upcoming Token Unlock Pose Selling Pressure 

Since May, a crypto whale has accumulated over 331 million Pi, which roughly equals $113 million at the present trading value. According to the expert, this could have stabilized the Pi price, but was halted due to upcoming token unlocks and rising exchange reserves, which posed selling pressure on the coin. 

Nakamoto says, exchange balances have jumped 82% to over 400 million PI, and September’s 149.5 million unlock adds more selling pressure. Moreover, Pi’s low turnover ratio of 0.98% also highlights thin liquidity, making it susceptible to volatility from large trades.

So, it is mandatory for Pi to maintain a sustainable ecosystem where the supply pressure and growth maintain an adequate balance to boost the adoption rate. Only then, there may be a possibility of reaching $1 in Pi. 

The price of the dollar in Venezuela is no longer managed at the parallel rate. Why? Because of the arrest of the administrator of the Instagram account of Dolar Today. Does that mean that now the price of USDT will be at the Central Bank of Venezuela's rate? Let's hope so, so we can have a more stable control of the dollar price.
And you? What is your opinion on the current situation of the dollar price in Venezuela?

I've already told you, this is like a game, it just takes math.
Here you have to learn on your own. Otherwise, how do you know what to invest in? Do you understand?
Everywhere they only teach you by playing. Making 100% 200% is easy just play well. Always add percentage, don’t look at how many dollars you made. That way you lose 😐 and what else do they teach you in games? Time. The game is fast.
What do I teach you? That if you hold for months you earn much more. A 5000% 20000% you just have to wait... but what coin? Because all of them give you a lot of profit quickly, as they teach you in the games.