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The Pi Network has surpassed a significant milestone with over 120 million downloads globally. In the last month alone, 1.3 million new users joined, strengthening the project’s goal to create a fair and open financial ecosystem. Developed by Stanford Ph.D. graduates, the project currently boasts 55 million active members. With Banxa’s K.Y.B. approval, Pi Coin has entered the global trading market, adding fresh momentum to the ecosystem.
Massive Growth in Pi Network Downloads
Pi Network has surpassed the 120 million download mark for its mobile application. By the end of 2024, the network had already exceeded the 100 million threshold, continuing its rapid growth. The project is gaining significant attention in the decentralized finance world, focusing on expanding its user base.
Banxa’s K.Y.B. (Know Your Business) approval has opened the doors for Pi Coin to global trading. The cryptocurrency payment platform previously purchased $30 million worth of Pi and now plans to offer the coin for worldwide sale. This move will enhance the altcoin‘s liquidity while expanding investment access. Soon, users will be able to trade Pi Coin via Banxa with different currencies.
Challenges in Pi Coin’s Price Consolidation
Pi Coin’s price is stuck in a narrow consolidation band, lasting approximately 40 days. Currently trading just above $0.58, the altcoin requires strong trading volume to return to the $0.60 – $0.62 range for momentum. Should the price surpass this level, investors may seek new buying opportunities; otherwise, the lack of market direction will persist, and volatility will remain limited.
Technical indicators also present obstacles to gaining strength. The price remains below the 10, 20, and 50-day moving averages. The Relative Strength Index (RSI) sits just below the 40 mark, and the MACD indicator has yet to signal a bullish reversal. In addition, ongoing large coin unlocks keep the risk of surplus supply alive. Investors should note the past price increase from $2 to $2.90 followed by a drop to $0.40. The community continues focusing on long-term vision.
