PI coins soared to a new high of US$3, and Binance's voting on the shelves is about to end. Isn't it a dream?

Pi Network main network is online, and the coin price soars against the trend! After more than six years of long waiting, Pi Network finally officially launched its main network at 4 pm last Sunday, Taiwan time, and simultaneously logged on well-known trading platforms such as OKX, Bitget, and Gate.io.

It is worth noting that although the crypto market has plunged recently and the prices of Bitcoin and Ethereum have both dropped sharply, Pi has risen against the trend and even set a record high.

The full dilution market value exceeds US$300 billion

Pi coin price rose strongly from US$1.6 yesterday, breaking through the US$3 mark at around 12:30 am today, setting a record high. Although it experienced a rapid pullback, it continued to challenge the $3 mark.

Based on the official total supply of 100 billion coins, the full dilution market value of Pi coins once reached an astonishing US$300 billion, briefly surpassing Ethereum's current full dilution market value (about US$285 billion).

However, it may not be accurate to evaluate using full dilution market value alone. According to Explorepi data, there are currently about 6.37 billion Pi coins in circulation, of which 4.7 billion have been locked. This means that the actual circulation is about 1.67 billion pieces. The cohesion of the Pi coin community and the high proportion of "non-currency circle people" in its user base may be an important reason why its prices are not affected by the sluggish crypto market.

But it should be noted that the 20% tokens (about 1.26 billion) held by the official team are not included in the above calculations, and its future release plan is still unclear, and there is a potential risk of selling pressure. In addition, the total supply of 100 billion coins also means that Pi coins are facing inflationary pressure for a long time.

Binance voting on the shelves is about to end

Binance launched a community vote on whether to list the Pi Network on February 17, and the vote will end at 8 a.m. on February 28. Voting results may further affect the price trend of Pi coins, and investors' expectations of Binance's listing may push up the price of the coin.

In addition, the name of Pi is also related to Pi 3.14, and the official launch date of Pi Network coincides with March 14 (March 14, 2019). Therefore, the market expects that the price of Pi may fluctuate around March 14, and the Pi community also expressed high attention to this.

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