- Summary:
- Nobody knows what the true PI Coin price is, but the project envelopes a mystery that has proven too enticing. But are you daring enough?
If you Google the words “PI Coin Price”, you will get something in the range of $34-$36 as of this writing. But that’s not all-you’ll also get lost of disclaimers. PI coin continues to keep its supporters on the edge, with a blend of frustration and hope.
Despite not listing on any exchange, the project has managed to build a sensation around it that very few cryptocurrency projects can compete against. However, as time goes by, there is a growing risk that frustrated PI coin holders could reach their elastic limit.
After raising hope that the PI mainnet would go live in 2024, recent developments have diminished that prospect. The project announced in mid-September that the Know Your Customer (KYC) grace period, initially set to elapse on September 30, had been pushed back to November 30.
Key milestones and the underlying risks
The project targets 15 million KYC’ed Pioneers (as PI Network supports refer to themselves), but has so far managed to get 14 million confirmations. That means 1 million users have to get their credentials verified in the next two months or else there will be another postponement. Meanwhile, the deadline for the Mainnet Migration remains 31 December, 2024. However, Pioneers must meet the KYC requirement before the mainnet migration.
The PI Core Team promised to give the mainnet open roadmap in December, but that, too, isn’t cast in stone. That is a critical milestone in the project’s development as it would allow for the official listing of PI Coin on exchanges. Currently, the lack of official listing has left room for speculative trading based on IOU contracts.
However, the PI Core Team has warned against such trading, insisting that such may not be real coins. As a result, no one can tell the actual PI Coin price. Still, you can get the coins byinstalling the app on and mining on your smartphone.
Nonetheless, the prolonged wait and persistent postponements of key milestone deadlines could have injected a sour sentiment in the PI Coin ecosystem. The PI Core Team announced a week ago that it was seeking for partnerships from businesses, promising to connect them to its growing ecosystem. One of the key selling points for the PI Network is the verifiability of its users, and many will be watching to see if institutional investors will honor the invitation to partner.