"Payment at 15,000 stores worldwide"...Pi Coin, aiming for $80 with its infrastructure

▲ Pi Network/Source: X

Pi Network (PI) is emerging as a new major player in the virtual asset market, continuing its price surge driven by the explosive growth of its ecosystem infrastructure and the global spread of its utility apps.

According to FXStreet, a virtual asset specialized media outlet, on April 29 (local time), Pi Network is continuing its price rally, driven by the recent sharp increase in the number of node operators and the expanded distribution of its software development kit for developers. FXStreet analyzed that the growing use of Pi Coin as a real payment method within the ecosystem and the anticipation that mainnet advancement work is nearing completion have become powerful catalysts for the price increase. Market analysts predict that if Pi Coin breaks above the $65 resistance level, it will set the stage for a vertical ascent to the $80 mark in the short term.

From a technical perspective, Pi Coin successfully broke through its key resistance level of $55.4 with strong trading volume, establishing a new price support level. The current price is trading around $62.8, and the 20-day and 50-day moving averages have formed a golden cross, laying a technical foundation for further upward movement.

In terms of infrastructure, the number of active Pi Network nodes worldwide surged by over 35% compared to the first quarter, further strengthening the network's security and decentralization. The Pi Network Core Team recently announced in its infrastructure update report that the number of commerce apps supporting Pi Coin payments has surpassed 15,000 globally. This expansion of practical utility is considered a significant indicator showing that virtual assets are establishing themselves as a payment method in the real economy, beyond mere speculative tools.

The explosive community participation and ecosystem expansion are attracting institutional investors, supplying ample liquidity to the market. With the recent successive launch of Pi Network-based decentralized financial services, the amount of staked Pi Coin has hit an all-time high, which reduces the circulating supply in the market and adds to upward price pressure. Experts evaluate that Pi Coin's unique mobile mining ecosystem has secured differentiated competitiveness compared to other Layer 1 projects, and they highly anticipate its long-term value appreciation potential.

Pi Network is establishing itself as a leading player in the altcoin market, entering a virtuous cycle of infrastructure growth and price appreciation. Market participants are closely watching the upcoming announcement of the mainnet's full opening schedule and further infrastructure expansion plans, as these are expected to critically influence Pi Coin's ability to reach its ultimate target price.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*