JUST IN: Pi Network Coin Hits $6.50 in P2P Trading

The price of Pi Network (PI) coin soared to $6.50 in peer-to-peer (P2P) trading, as reported by CoinMarketCap. This significant surge marks a notable increase from its previous value of approximately $3.00.

However, potential investors should exercise caution, understanding that this price is reflective of PI’s value solely in the P2P market. Notably, PI is yet to be officially listed on any major exchanges like Binance, leaving its official valuation still shrouded in uncertainty.

One crucial detail to consider is that only individuals who have successfully completed the KYC (Know Your Customer) verification process are presently eligible to engage in PI transactions within the P2P market. This restriction stems from the Pi Network’s ongoing enclosed Mainnet phase, during which access remains limited to a select group of participants.

The Pi Network, initiated as a mobile mining venture in 2019, boasts a user base exceeding 47 million individuals globally. Despite being in the development stage, the project has garnered substantial attention within the cryptocurrency community.

The lingering question of when PI will be integrated into major exchanges and when the enclosed Mainnet phase will culminate remains unanswered. Nevertheless, the recent upswing in PI’s P2P market price underscores the escalating interest surrounding this initiative.

It is crucial for potential investors to exercise due diligence, given the rise in Pi Network-related scams. Instances of fraudulent individuals attempting to peddle counterfeit PI tokens have been reported. To safeguard investments, individuals are strongly advised to exclusively participate in PI transactions through the official Pi Network app, mitigating the risks associated with these deceptive schemes.

As the cryptocurrency landscape continues to evolve, keeping a vigilant eye on developments within the Pi Network remains paramount for those interested in this promising but complex venture.