Source: X Blogger: Kim H Wong
Content organized by: Peter_Techub News
After the hype faded, the price of Pi coin plummeted by 45%, sparking widespread attention in the market regarding its future trajectory. Recently, stablecoins have become increasingly popular in the cryptocurrency market due to their stable prices, backing by real-world assets, and growing support from regulatory agencies, making them the preferred choice for investors seeking stability in a highly volatile market.
Some experts in the Pi community believe that the rise of stablecoins may hinder Pi Network's goal of becoming a widely used global currency.
Challenges Facing Pi Network
The long-term vision of Pi Network is to create a convenient global currency based on mobile mining and peer-to-peer usage. However, the rise of stablecoins may pose challenges to this goal. Stablecoins, supported by fiat currency and institutional trust, demonstrate advantages such as price stability, widespread adoption, and good integration with the financial system. In contrast, Pi coin currently faces obstacles such as high volatility, limited listing channels, and regulatory uncertainty. To compete globally, Pi Network needs to significantly enhance its practicality in the real world and gain the trust of more users. If these key advancements are not achieved, stablecoins may continue to be the preferred choice for cryptocurrency users seeking stable currency attributes.
Unique Advantages of Pi Network
Despite the challenges, Pi Network has some unique advantages that may help it stand out in the competition. First, its mining process is extremely simple, requiring only a click through a mobile application, without the need for complex wallet or exchange operations, which greatly lowers the entry barrier. Second, Pi Network has a large community of 65 million users and a referral-based model that creates a strong network effect. If Pi can achieve more practical functions in the real world, this loyal user base is expected to drive mass adoption. Finally, Pi Network is building its own ecosystem through dApps and developer tools, including the newly launched AI-driven Pi App Studio. If this strategy is successfully implemented, Pi is expected to increase user engagement, attract new users, and develop into a thriving digital economy.
Current Market Performance and Outlook
Although Pi coin recently broke through a key downward trend and showed some hope, the upward momentum could not be sustained, and the price has started to decline again. If this trend continues, Pi coin may fall to historical lows around $0.40. However, if market demand rebounds, there is still potential for a rebound, with an upward potential reaching $0.66. Currently, the trading price of Pi coin is $0.4961, having dropped 5% in the past 24 hours, with significant downward pressure still evident.
Limitations and Future Prospects
Despite the potential of Pi Network, it is still in the early stages of development and faces issues such as centralization, delays in KYC verification, and low user activity. Additionally, the lack of institutional support and verified practical utility also limits its development. The future of Pi Network depends on its ability to overcome these obstacles and achieve promised innovations through ecosystem building. If Pi can effectively address the challenges posed by stablecoins, its unique mobile mining model and community-driven growth may allow it to carve out a place in the cryptocurrency space. In summary, stablecoins pose significant competitive pressure on Pi Network, but Pi's unique advantages provide the possibility for a comeback. Future development will depend on the maturity of its ecosystem and market recognition of its practicality.
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