The fourth week of the year 2023 saw a sharp drop in the price of Pi Coin across all exchanges, despite expectations that it would soar to $150,000 on the Atlantis Exchange platform by the end of the month.
The cost of PiCoin has decreased on almost all exchanges. The price of the coin has decreased by -1.59% to $77.15 on CoinMarketCap, while it has decreased by $17,155 on Atlantis Exchange from the $35,000 it was trading for three days ago.
Due to the limitations imposed by its firewalls, Pi Network is still working in its enclosed mainnet and cannot currently connect to external blockchains. However, after the current Hackathon, pioneers are optimistic that the mainnet will go live.
The Core Team has currently issued a warning against trading Pi because it is currently displayed as an IOU and exchanges should not be trusted that they might redeem your purchase with the genuine Pi Coin after mainnet.
Social media users have increasingly been upset with Pi Network advertisements, especially on Twitter. The protocol’s advertisements functionality drew a lot of criticism from Pioneers and crypto fans.
The Pi mobile application claims that users who enable the advertisements feature help pay for the network’s servers and upkeep. Although it will help the mining protocol expand, users’ opinions on the matter were divided, with some arguing that the protocol should turn off adverts and others favoring it. Benjamin, a Twitter user, urged followers to keep the advertisements function enabled, according to a report from BSC.news.
Tom, a different Twitter user, demanded that Pi advertisements be disabled. Pioneers’ impatience is one of the main causes of the unfavorable perceptions of Pi advertising. Users must have greater patience to wait till the Pi coin can be traded because it is still on an enclosed mainnet. Pioneers’ impatience has increased due to the protocol’s aspirations being paid for by seeing advertisements without earning any money.