Pi Network Breaks Uniswap’s Airdrop Records, But Can Selling Pressure Hold It Back?
The record of PI Network (PI) was broken, becoming the largest and most valuable airdrop in crypto history, surpassing UNISWAP (UNI) achievements. This development follows the Internet Main website release And the token’s debut in major communications has caused great excitement in the crypto industry.
Bitget Exchange reports Bottom floor Once led the cryptocurrency game, it reached a value of $6.43 billion after distribution in 2020. Interestingly, PI Network has now broken that record, doubled Uniswap’s gas disk value. Pi Network’s Airdrop Value has a circulation of 6.3 billion PI tokens, and the Airdrop Value sold for $12.6 billion on Thursday.
Airdrop of PI Network: Great success
Pi Network’s Airdrop has made a big impression in the cryptocurrency world with its mainnet launch. Unlike typical air conditioners that reward early users, the PI network focuses on mass participation. The team noted that millions of people have mined tokens on their phones since 2019, creating a large, engaged community that has made air conditioning a huge success.
Prior to the launch, several crypto exchanges including BITGET provided Pi Network Airdrops. Similarly, Bitmart expects the opening phase of the mainnet to promote USDT giveaways. It also received significant support from major crypto exchanges. MEXC launched a pre-listed transaction for the token, which quickly attracted people’s attention. After the main network was released, other top exchanges also followed, OKX added PI/USDT pairs for spot trading and provided Pi/USDT futures.
Beyond a closed ecosystem
With the launch of the open phase, the PI network has expanded its closed ecosystem. The project’s team announced that it is now fully connected to the external network, allowing for smooth integration with other blockchain and financial systems.
The blog post also points out that the open network also provides support for integration with centralized exchanges (CEXS) and OnRamps to provide other means to obtain PI for the PI ecosystem, as well as more third-party services and node updates, etc.
Open network challenge!
To celebrate the open network, PI Network will launch an open network challenge next week. This will enable pioneers to learn more about open networks through interactive tasks and rewards and explore ecosystems.
PI networks face challenges in recording Airdrop
Despite the record air conditioning, the Pi Network faces challenges. These include regulatory reviews and doubts about its unique mining model. Furthermore, market volatility remains a big problem as many users are new to cryptocurrencies. There are concerns about the long-term performance of PI networks, especially the hamster Kombat that ultimately failed from hamster Kombat (with similar models and hype).
Despite the challenges, PI Network’s leadership is committed to creating a decentralized and scalable ecosystem. With the network now fully open, the coming months will reveal whether PI networks can keep it motivated and realize its huge vision.
The price of PI Network was priced at about $1.3 during the launch period, but quickly soared by $2, indicating strong demand from investors. However, the current trading price is $0.8783, down more than 30% in the past 24 hours. This decline may be due to the sell-off of Pi coin holders and miners who can now trade cryptocurrencies.
