Finance

Over 2.2 Billion Pi Coins Have Been Migrated to 3.3 Million Pi Wallets as of September 25

09/26/2023
Bitcoin Ethereum News
Over 2.2 Billion Pi Coins Have Been Migrated to 3.3 Million Pi Wallets as of September 25

 Key highlights:

  • The Pi network recently surpassed distributing over 2.27 billion Pi coins to 3.3 million active wallets, representing an average of 688 Pi mined per user.
  • Pi is working hard behind the scenes to fuel vibrant ecosystems.
  • Through their ambassador program, over 1,000 Pi have been spread to each of 1,000 new developers recruited to launch apps.

The Pi mobile app continues marching toward its mainnet launch, recently surpassing some impressive distribution milestones. According to the latest figures shared by Pi News, the Pi network has migrated over 2.27 billion Pi coins to 3.3 million wallets as of September 25th.

An average of 688 Pi per person

Breaking down the numbers, that works out to an average of 688 Pi per wallet. Not a bad haul for those who took the time to click the little mining button each day! Of course, early adopters and super-active clickers likely have balances far exceeding the average. But overall it shows that Pi is making good on its goal of distributing coins far and wide ahead of the mainnet launch.

Billions locked up for the long haul

And it seems many users are in it for the long run, with over 1.4 billion Pi (that’s $1.4 billion worth if valued at $1 per Pi!) locked up in wallets designated for long term holding. This signals strong belief that Pi coins will be valuable once trading begins on exchanges. Like stacking away savings, these far-sighted miners are no doubt hoping their hordes will grow much larger over the years.

Big plans to boost the ecosystem

As the distribution phases out, Pi’s focus shifts to fueling activity and utility on the mainnet blockchain. Reports indicate they’ve made “considerable progress” recruiting developers through an ambassador program, with over 1000 Pi awarded per referred developer that launches an app. Real-world use cases are also emerging, like the recent sale of art traded for Pi coins in South Korea. All signs point to Pi delivering on its vision of an inclusive, peer-to-peer financial system powered by a robust ecosystem.

As a refresher, Pi Network is still in its testnet phase, so “PI” currently only trades as an IOU on select exchanges like BitMart and HTX (Huobi). Its actual launch price once mainnet opens is impossible to predict.

Coincodex Long-Term Pi Network Price Prediction

However, CoinCodex’s price prediction for Pi has increasing nearly 500% within a year. Strong on-chain growth clearly helps the investment thesis.

What’s next for Pi Network?

Mainnet launch details remain under wraps for now. But with so much interest and coins already in circulation, it’s sure to be one of the most anticipated crypto debuts of 2023. Where will the value of 1 Pi settle once trading begins? No one knows for sure – but with millions of users and a growing stack of real utility, the potential is there for Pi to climb high.

Source: https://coincodex.com/article/32710/over-22-billion-pi-coins-have-been-migrated-to-33-million-pi-wallets-as-of-september-25/