Honor returns: Pi Network ranked 17th in the global crypto market value, is it truly a new high?

The crypto market was surging in May, but what really triggered the enthusiasm of the community was the strong rise of Pi Network. Against the backdrop of long-term silence and steady advancement in technology and compliance, Pi finally ushered in its highlight moment: the coin price exceeded US$1.26, and its market value ranked 17th in the world , once again breaking into the mainstream vision and becoming one of the most worthy blockchain projects at present.

It was a belated victory for more than 47 million Pioneers around the world; and for the crypto industry as a whole, it was more like a counterattack from underrated power.

Honor returns: Pi Network ranked 17th in the global crypto market value, is it truly a new high?

Pi Network top 20: It seems accidental, but it has been planned for a long time

What many people see is the rapid rise in prices and rankings, but the logic behind it is a "consensus accumulation war" that lasts for several years.

Pi Network has been launched by Dr. Stanford's team in 2019 and has gone through the path of "coin-free stage", "test network construction", "large-scale deployment of KYC" to the current "main network closed operation of ecological testing", and every step is extremely restrained. Unlike other projects, Pi is not in a hurry to go online to the exchange, but has chosen a longer-term and more stable path - prioritizing the construction of ecology, precipitation of users, and promoting the real-name system.

Now, the price has exceeded US$1.26 and the total market value has soared to 17th place in the world. This is actually the natural result of tens of millions of users working together to mine, verify, wait and build an ecosystem in the past few years. This is not a surge, it is "cashing".

Three promoters of market value leaps

The core driving force behind this round of Pi Network's strong return can be summarized into three points:

1. There is a change in circulation supply, and the market is pricing again

According to on-chain data tracking, Pi's circulation has recently increased from 7 billion to 12 billion. This new part may be released from the "liquidity pool" set by the early team, or the active distribution stimulated by the demand for ecological applications. This has led the market to reevaluate the scarcity and fair value of Pi.

As the trading channels are not yet fully open, the scarcity of circulating Pi has led to the rapid rise of over-the-counter trading prices. Under the premise of extremely uneven supply and demand, it is reasonable to push up the currency price.

2. The main network ecosystem has entered a critical point, and multiple dApps are about to be launched

According to the core development team @PiCoreTeam, multiple ecological applications are being tested in Pi Browser and Pi App, including Pi Chat, Pi payment plug-in, Eco Mall, NFT Laboratory, etc. This means that Pi is moving from a "pure mining platform" to a "real economic system".

The launch of dApp not only brings practical application scenarios, but also indicates that Pi coins will be circulated and used within the ecosystem for the first time, truly becoming a "factor of production" rather than just a "collected product".

3. The expectations are clear: the main network opening time may be in the near future

Although the official has not yet released the date for the final full opening of the main network, Pi official repeatedly emphasized that "2025 will enter the stage of full ecological integration and main network opening." The upcoming major ecological announcement on May 14 has been interpreted by many pioneers as the "final starting point." The market's expectations for Pi to go online to CEX are heating up, and this expectation itself is an important factor driving the price rise.

How does the crypto industry view the counterattack of Pi Network?

For traditional Web3 investors, Pi Network has always been an "alternative project": it does not go to the office, does not raise funds, does not speculate, or issues airdrops, but accumulates the initial user base by relying on user mobile phone mining; it has almost no participation in the DeFi and NFT wave, but has steadily owned tens of millions of KYC real-name users; it is not the most advanced Layer2 in technology, but it has great advantages in building a "decentralized consensus social map".

This makes Pi's rise seem a bit "abnormal", but full of inspiration.

As Web3 observer Chris Burniske said:

“A project with a real user base and low-cost financial infrastructure can become the next Bitcoin.”

Pi is such a project - it is not a hyped value, but a trust accumulated over four years of deep cultivation on a global scale.

Risk and hope coexist, where will we go next?

Of course, the current Pi Network is still at a critical tipping point. Although the ranking has risen and the currency price has broken through, this is just the starting point for "get out of the valley". What really determines Pi's destiny lies in the following key steps:

• When will the exchange be truly opened? Does the main network choose to cooperate with head CEXs such as Binance and Coinbase? Will a locking mechanism be set up to protect early ecological stability?

• Can ecological dApps provide real usage scenarios? Can we achieve "let 1Pi buy a cup of coffee"? If not, the price will eventually fall; if possible, Pi will truly achieve a closed-loop value.

• How to implement the community governance mechanism? Pi has long advocated "decentralized governance", but after the main network is online, how can we coordinate the balance between ecological rewards, transaction mechanisms and community supervision?

If these problems are not solved, Pi may still become a short-term "hot"; once solved, Pi will become a template for changing the logic of cryptocurrency.

Pi is no longer the Pi of the past

From a "mobile mining project" that is ignored by the mainstream to now among the top 20 in the world, Pi Network, the 17th place in cryptocurrencies, is no longer a "possibility of the future", but is gradually moving towards reality.

But price should not be the ultimate goal, and application and consensus are the foundation that supports value . Every pioneer who participates in it is both a witness and a builder.

In the era of the full-scale main network that Pi Network is about to open, perhaps what we really need is not just waiting for the price of currency to rise, but thinking: Where should Pi be used and what can it change?

In this dual game of technology and trust, the giant has awakened.

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