The IOU (I Owe You) for Pi (Pi Network), a popular digital currency, has reportedly reached NGN 88.1 million on the Coinbase exchange. Pi, which aims to create a decentralized ecosystem for mobile mining, has been garnering attention in the crypto community.
Over the past week, the price of Pi has experienced a slight decline of 0.41%. However, in the last 24 hours, the price has shown signs of recovery, increasing by 2.73%. In the most recent hour, the price surged by 1.91%. As of now, the current price of Pi stands at NGN 18,050.98 per coin.
Despite the recent price fluctuations, Pi is still 92.87% below its all-time high of NGN 253,190.98. This significant difference highlights the volatility and speculative nature of the cryptocurrency market.
Pi Network, founded by a group of Stanford graduates, aims to create a digital currency that can be mined using mobile devices. Unlike traditional cryptocurrencies like Bitcoin, Pi does not rely on a proof-of-work consensus mechanism. Instead, it utilizes a novel consensus algorithm called Stellar Consensus Protocol (SCP) to secure its blockchain.
The growing interest in Pi is evident through the substantial IOU value it has reached on Coinbase. This IOU, which signifies an agreement to exchange Pi coins when they become available, demonstrates the confidence and demand surrounding the digital asset.
As with any investment, the price of Pi can be influenced by various factors, including market sentiment, technological developments, and regulatory changes. Investors and enthusiasts of Pi are advised to stay updated on the latest news and conduct thorough research before making any investment decisions.
I love pi, but the kyc approval takes forever and many pioneers get frustrated! This is no point if we don’t get approved?
I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 47 million members worldwide. To claim your Pi, follow this link https://minepi.com/daiv101 and use my username (daiv101) as your invitation code.