As a seasoned researcher with over two decades of experience delving into the intricacies of digital currencies and blockchain technology, I must admit that the growth trajectory of Pi Network is quite fascinating. While it’s true that the project has been around for five years and yet to launch its native token and open network, it’s equally impressive to see how it has managed to amass a multi-million user base.
TL;DR
- Pi Network users in South Korea surpass Binance’s user base in the country.
- The project’s open mainnet launch awaits final verifications, with updates expected in the following weeks.
Pi Network Outpaces Binance on This Front
The Pi Network, a cryptocurrency initiative where users can mine digital assets using their smartphones, continues to generate significant interest within the industry. Despite being introduced about five years ago, it has not yet launched its open mainnet and released its native token for public use.
Regardless of the surrounding debates, Pi Network has built up a large community numbering in the millions. Just recently, the team announced that their project’s app surpassed the significant milestone of 100 million downloads.
In South Korea, Pi Network has established a significant presence, with its local user base reportedly reaching 1.34 million by Wu Blockchain. Remarkably, only two domestic cryptocurrency-related platforms boast more users: the well-known exchanges Upbit (4.36 million) and Bithumb (2.24 million).
In terms of user numbers, the community using the Pi Network surpasses both Binance’s client base in South Korea and those utilizing platforms like Coinbase, Bitget, and Bybit for their services.
In my analysis, I’ve identified several Asian nations where there are robust Pi Network communities. These include China, Vietnam, India, Japan, Singapore, Malaysia, and more.
Recent Pi Network Updates
Previously noted, the Pi Network community is yet to see the rollout of their own digital currency and an open platform.
Previously, it was stated that the platform would be launched when 15 million users had completed the required verifications. Recently, Pi News reported that 14 million users have already complied with these rules, leaving only a million to go before the deadline on December 31.
The scheduling of the event was repeatedly adjusted, leading to a variety of responses within the community. It wasn’t until late November that the most recent postponement was revealed, sparking suspicion among some that the team may prolong delay announcements rather than taking action.
In the meantime, it’s anticipated that December will be packed with activities for Pi Network users. Previously, the Pi Core Team had mentioned they would reveal the mainnet open roadmap, which should offer a clearer picture about when users can start buying and selling Pi tokens.
It’s yet uncertain whether the last few weeks of 2024 will witness major advancements, or if the skeptics will prove to be correct instead.
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2024-12-12 20:20