PI coins once hit $3 and set a new record high! Binance voting will be closed

Pi Network main network is online, and the coin price soars against the trend!

After more than six years of waiting, Pi Network finally officially opened its main network at 4 pm on February 20th, Beijing time, and simultaneously logged in well-known exchanges such as OKX, Bitget, and Gate.io. What is remarkable is that against the backdrop of a sharp pullback in the crypto market recently (Bitcoin fell below $82,000 and Ethereum fell below $2,300), the price of Pi coin rose against the trend and even hit a record high.

The full dilution market value exceeds US$300 billion?

Pi coin price rose strongly on the evening of February 26, and reached an all-time high of US$3 around 12:30 a.m. on the 27th. Although he experienced a pullback later, he continued to challenge the $3 mark. Based on the official total supply of 100 billion coins, the full dilution market value of Pi coins once exceeded US$300 billion, and even briefly surpassed Ethereum's full dilution market value.

However, it may not be accurate to evaluate the value of Pi coins using only full dilution market value. According to Explorepi data, there are currently about 6.37 billion Pi coins in circulation, of which 4.7 billion are in lockdown. This means that the actual number of Pi coins circulating is about 1.67 billion. The cohesion of the Pi currency community and the high proportion of "non-currency circle people" among its user groups may be the reason why it can still maintain strong performance during the crypto market downturn.

It should be noted that the 20% tokens (about 1.26 billion) held by the official team are not included in the above calculations, and their future release methods and plans are still unclear, and there is a potential risk of selling pressure. In addition, the total supply of 100 billion coins also indicates that Pi coins faces long-term inflationary pressure and price fluctuations caused by gradual unlocking.

Binance voting on the shelves is about to end

Binance launched a community vote on whether to list the Pi Network on February 17, with a voting deadline of 8 a.m. on February 28. Voting results may further affect the price expectations and trends of Pi coins.

In addition, the name of Pi coin is related to Pi π (3.14), and the official launch date of Pi Network coincides with March 14 (March 14, 2019). Therefore, the market may closely monitor the dynamics of Pi coins on the eve of March 14, and many Pi community members also expect the price of Pi coins to reach this commemorative value.

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