Pi Network Adds BUY Feature Amid 401.7M Exchange Tokens, Price Down 85%

Pi Network (PI) continues to draw attention despite lagging in the current bull market. Recent developments highlight both progress in its ecosystem and challenges in market dynamics. The project’s wallet app, Pi Wallet, introduced a "BUY" feature this week, enabling direct token purchases within the application. This update was accompanied by new buttons for exchanges and "Mine Pi for Free," along with integration via Onramper, signaling efforts to streamline user access and liquidity [1]. Additionally, the platform’s Pi Browser and Pi App Studio remain key components, with the latter allowing non-technical users to build decentralized apps [1].

However, rising exchange balances pose a risk to the token’s price stability. As of July 25, over 401.7 million PI tokens were stored on exchanges, a significant increase from prior levels. Nearly half of this amount resides on Gate.io, raising concerns about immediate selling pressure. Compounding this issue, approximately 170 million tokens are set to unlock over the next 30 days, potentially amplifying supply-side challenges [1]. Analysts have flagged these factors as bearish, with one X user noting that the "BUY" feature’s initial price boost may not sustain long-term momentum due to low liquidity and regulatory uncertainties [1].

Price movements remain volatile. At $0.44, PI trades 85% below its February all-time high of $3. While some predict further declines, with one analyst forecasting a potential drop to $0.40, others like MOON JEFF suggest the token could rally to $1 if adoption gains traction [1]. These divergent views underscore the market’s uncertainty around Pi Network’s roadmap and technical execution.

The possibility of a Binance listing remains a focal point. A February community vote overwhelmingly supported the idea, yet the exchange has yet to act. Recent speculation suggests a listing could occur soon, which might boost liquidity and visibility. However, skeptics highlight hurdles, including Pi Network’s lack of fully open-sourced blockchain code, absence of third-party security audits, and unclear listing applications [1]. These gaps could delay regulatory approvals or erode investor confidence.

The path forward for PI hinges on balancing ecosystem development with market fundamentals. While the team’s efforts to enhance usability are evident, challenges such as token supply management and regulatory clarity will likely shape its trajectory in the near term.

Source: [1] [title: Pi Network (PI) News Today July 25th] [url: https://coinmarketcap.com/community/articles/6883a54acf73665c3b5f89a3/]