Stuck in pre-release limbo, and with no way to add coins to their wallets, it’s a confusing time for PiCoin enthusiasts. The PI network is excellent in concept, though its half-baked execution has left investors wondering if it’s actually a well-crafted scam.
PiCoin (PI) is a coin currently in pre-release status and is not officially available for trading on any exchange. Early adopters still save PI coins in anticipation of a steep price hike after the network launch.
On December 29, 2022, crypto exchange Huobi Global announced the listing of the Pi network, followed quickly by the network shutting down the listing on different exchanges. They cautioned against trading their token until they gave the official green light.
After listing PI for around $80 on Binance and Coin Market Cap, PI tweeted a warning:
“Please note that the main net has yet to be found, and the prices shown on certain exchanges are for IOUs that may not be transferable across exchanges. Please DYOR and proceed with caution.”
PI’s current price at the time of writing is about $70, which has experienced a 15% decrease in price in the last week.
According to our experts on safetradebinaryoptions.com, this coin’s outlook is murky. The PI network has not said when the network will launch, only that the network period has been capped.
Some critics say it exploits its community by selling ads to reach 35 million users, while others claim it’s a form of multi-level marketing scheme.
Pi Network does not run Initial Coin Offering (ICO) sales or crowdfunding. The closed network period allows developers to complete KYC(Know Your Customer) verification and add more apps.
As for the future of the PI coin, it’s anyone’s guess. Algorithm-based websites have tried to predict the price, but given that the coin is not launched formally, any predictions are highly speculative.
Some estimates range from $1 to hundreds of dollars, but given the highly volatile cryptocurrency market, it takes time to predict prices with certainty. It is recommended that for any investment, traders should research and review market news and trends, fundamental and technical analysis, and experts’ opinions before making a decision.