Pi Network News: Can the Domain Auction Push Pi Coin Price to $1?

After months of declining interest and ongoing KYC controversies, Pi Network is seeing renewed enthusiasm. Its recent domain auction has sparked excitement, with the community hoping it could mark a turning point for Pi Coin’s price.

Over 200,000 bids have been placed in just a week, showing strong demand for Pi-related domains. Many are now wondering if this surge in activity could help Pi Coin climb back to the $1 mark. However, challenges remain. Binance has still not listed the token, and regulatory concerns continue to raise questions about its future.

Pi’s Domain Auction Draws Massive Participation

The Pi Core Team has shared some key updates on the auction, revealing impressive numbers:

• More than 40,000 unique bidders are competing for 95,000 .pi domains
• Nearly 3 million Pi tokens have been bid so far
• Some domains have sold for as much as 30,000 Pi

Domains linked to well-known brands like Amazon and Samsung have seen intense bidding wars, showing that businesses and developers are seeing value in owning blockchain-based domains. The Pi Core Team believes this growing interest is a positive sign for the network’s future, as it encourages more apps, services, and businesses to build within the Pi ecosystem.

What Will Happen to the Auction Funds?

To support the network’s development, the Pi Core Team has outlined how the proceeds from the auction will be used. The funds will be reinvested into:

• Developer programs
• Pi-focused events
• Further expansion of the ecosystem

Apps within the Pi Network will also be able to secure domains without bidding. However, like regular web domains, .pi addresses will need to be renewed periodically and will only function within the Pi Browser for now.

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Can Pi Coin Recover Its Value?

Despite the excitement around the auction, Pi Coin’s price has dropped below $1 and is currently trading at $0.8862 after a 5% decline. The drop is largely due to recent token unlocks and increased selling pressure.

Some investors are optimistic that a potential listing on the Upbit exchange could help the price recover. However, concerns about the Pi Core Team’s transparency continue to hold back major exchanges from listing the token, creating uncertainty about its future.

Is This the Start of a Comeback?

Pi Network’s domain auction has brought new energy to the community, but it remains to be seen whether this momentum can push Pi Coin back above $1. While interest in Pi’s ecosystem is growing, unresolved issues around regulations and exchange listings still pose challenges.

For now, the community remains hopeful, but only time will tell if this renewed enthusiasm will lead to a real turnaround.

Hype is back in Pi’s corner, but until the bigger hurdles are cleared, the road to $1 is still a work in progress.

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