In a remarkable turn of events, Pi Coin, the native token of the Pi Network, has reportedly overtaken major cryptocurrencies like Bitcoin, Ethereum, Litecoin, Binance BNB, and Solana in less than 24 hours since its listing on exchanges. The astonishing surge saw Pi Coin’s value skyrocket by an unprecedented 37,400%, reaching an astonishing $35,000, as per data shared by Atlantis Exchange on X ( formerly Twitter)
Since the inception of Bitcoin in 2009 by Satoshi Nakamoto, no other cryptocurrency has achieved such a monumental feat within such a short span. The surge in Pi Coin’s value has captured the attention of the crypto community worldwide.
However, it’s essential to note that the price of Pi Coin may vary across different exchanges. While it soared on the Atlantis Exchange, its value on Huobi has seen a 13% drop, currently standing at $164.72.
At the time of writing, the prices of other leading cryptocurrencies are as follows: Bitcoin (BTC) at $16,706.52, Ethereum (ETH) at $1,217.32, Binance (BNB) at $246.40, Litecoin (LTC) at $75.61, and Solana (SOL) at $11.04. In stark contrast, Pi Coin is trading at an unprecedented $35,000, making it the most expensive cryptocurrency available in the market.
What is Pi Network?
The Pi Network, conceptualized by Nicolas Kokkalis and Chengdiao Fan of Stanford University, aims to make digital currency accessible to everyone. The project commenced in 2018, with the release of the Pi Network app and the publication of a whitepaper on March 14, 2019.
One notable aspect of the Pi Network project is its emphasis on environmental sustainability, a factor that could attract environmentally-conscious investors. This focus is particularly significant given the criticism the crypto market often faces for its high energy consumption, primarily attributed to processes like proof-of-work (PoW).
The surge in Pi Coin’s value underscores the growing influence of the Pi Network in the cryptocurrency space and raises questions about its potential impact on the broader market. As investors and analysts closely monitor these developments, the future trajectory of Pi Coin remains a subject of intense speculation and interest.
As the cryptocurrency landscape continues to evolve rapidly, Pi Coin’s unprecedented surge serves as a reminder of the market’s unpredictability and the potential for disruptive innovations to redefine established norms. Read Similar Story
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