Despite the Pi Coin crypto not being on the market or in any exchange, it has continued to gain traction over the years. Today, the project boasts of having over 30 million active users.
Part of the reason why Pi Coin has gained traction with users is due to its simple-to-use mobile application. For long, cryptocurrency mining had been confined to a class of people with enough resources to purchase high-powered computer systems to create mining rigs. However, the entrance of the Pi coin changed everything.
With Pi Coin, users only needed a smartphone that could download the platform’s application. After installing the application, these users, who would otherwise have been left behind in the crypto revolution, could now be able to mine. This saw an explosion of users, and three years down the line, most of these users continue to be loyal to the project.
However, the continued user traction has resulted in many people accusing people behind the project of being scammers and the project being a Ponzi scheme. One reason for such accusations is that, despite years of operations, users can still not benefit from their crypto holdings. They also argue that there is a high likelihood that user data is being sold to third parties, which can be very profitable to the people behind the project. Fortunately, non of these accusations have ever been proven.
Pi Coin Price Analysis
The Pi Coin price, as of the time of this writing, is still not yet known. This is despite millions of people already owning the cryptocurrency. At press time, we can only speculate what the value of the Pi coin will be once it is launched. In my opinion, the initial price of Pi Coin will be below the $0.00001 price if it is ever traded in exchanges.
Part of the reason for this view is due to the current supply of the cryptocurrency. Millions of people already own the crypto, and hence its demand will be low. People who own it will also be looking to offload it rather than wait for it to gain value. Therefore, its price will quickly plummet after it is launched. However, as of now, we do not know whether it will ever be launched on exchanges.