Pi Network’s Mainnet Launch Odds Are Increasing as the Crypto Bull Run Continues

The developers have constantly predicted that Pi Coin will move from the enclosed mainnet later this year.

The crypto bull run continues to increase the odds of the Pi Network's mainnet launch as the grace period for KYC verification draws to a close. The developers have consistently predicted that Pi Coin will transition from the enclosed mainnet later this year.

What is the Pi Network?

The Pi Network is a cutting-edge cryptocurrency project that aims to address some of the critical challenges within the industry. Among these challenges is mining, specifically how mining Bitcoin (CRYPTO: BTC) requires substantial computing resources that most people cannot afford.

Pi Network solved this problem by creating the first tap-to-earn application, allowing users to accumulate tokens. Afterward, these pioneers would convert their coins to fiat currencies through exchanges like Binance (CRYPTO: BNB) and Coinbase (NASDAQ:COIN).

Pi Network also aims to ensure that its coin has a real utility, doing so by creating an ecosystem of applications. Some of the existing applications are the Pi Browser, which has been installed by millions of people, and an ad network.

The Pi Network entered an enclosed mainnet, allowing pioneers and developers to interact with the ecosystem. Developers can also build and launch their applications during this phase.

The only caveat is that it was not possible to move and convert these tokens into fiat currency during the enclosed mainnet process. Hence, the upcoming mainnet launch will be significant as it will finally allow pioneers to realize the value of their investments.

Does the Pi Coin have any value?

For now, the Pi coin does not have any value since one cannot convert the coins into cash. However, in the future, there is a likelihood that the coins will have some value, although it is hard to predict how much.

The developers have not highlighted the number of Pi coins that will be released to the market and the starting process. There are chances that pioneers will not receive all their tokens at once, as we saw with Hamster Kombat, the viral tap-to-earn game. Hamster holders received about 60% of their holdings.

Also, there are chances that most Pi Network pioneers will sell their coins immediately after launch. While Pi developers are interested in a vibrant ecosystem, most pioneers are mostly interested in the short-term gains for the coin.

Recent data shows that most investors sell their tokens shortly after their mainnet launch. This explains why tokens like HMSTR, Catizen, and DOGS crashed sharply after being listed on exchanges.