Recent developments on the Pi Network front have captured significant attention, especially with the integration of its native token into one of the most widely used messaging apps. Additionally, several updates for developers have been announced that may affect the overall ecosystem of Pi Network. Let’s take a closer look at these changes.
Telegram Integration
CryptoPotato recently reported that Pavel Durov’s popular messaging application, Telegram, has incorporated PI tokens for various functions. Users are now able to hold, buy, and store this cryptocurrency within the Telegram wallet. However, it’s important to note that sending, withdrawing, or receiving PI tokens through the app is currently not supported.
This news was disseminated by Pi News, a prominent account on X (formerly Twitter) with over a million followers associated with the Pi Network. Although many users have shared screenshots showing their PI tokens within the Telegram wallet, the official Pi Network channels have yet to confirm this development.
Updates for Developers
The official Pi Network X channel recently issued an update aimed at developers. It stated that community applications complying with the required listing guidelines and that successfully completed PiNet migration by May 28 of this year can now secure their domains without needing to bid, albeit under specific conditions and restrictions.
This grace period was established to accommodate developers who may have missed the initial migration deadline. Developers are now required to take several actions to continue progressing. Since the community app is operational on PiNet for those who have completed their migration procedures, registering URLs, setting display preferences (for both mobile and desktop versions), and optimizing the user experience to attract non-Pi users are all essential steps.
PI Price Update
Despite the positive developments mentioned, and a general resurgence in the cryptocurrency market, the price of the PI token has continued to decline. Approximately a month ago, the token was valued at $3 but has since experienced a dramatic drop of 72%, bringing its current price to just over $0.8. In the past week alone, it has decreased by nearly 30%.
Nevertheless, some analysts maintain a hopeful outlook regarding PI’s future price trajectory. A notable analyst, MOON JEFF, suggests that while more short-term pain may be on the horizon, potentially reaching a low of $0.6, this level could serve as a foundational point for a significant increase to reach an all-time high of $5. Another analyst, Andrew Griffiths, sees opportunities arising should the price dip to $0.75, influenced by the development of a Falling Wedge Pattern.
Pi News emphasizes that users should concentrate more on actively participating in the project’s development, which could, in turn, positively affect the price of PI. However, opinions on this perspective vary within the community, with some perceiving it as a sign of desperation, while others view it as a source of encouragement.
The developments surrounding the Pi Network signal a pivotal time for both users and developers. Engaging fully with the evolving landscape might not only benefit individual stakeholders but could also lead to broader success for the project.
