The Pi Network team has been relatively quiet during the holiday season, much like the broader calm in cryptocurrency markets. However, as the year ends, there are some updates and developments worth mentioning.
Pi Network Holiday Activities
Pi Network, a system that lets users mine cryptocurrency using their phones (learn more here), recently launched a festive initiative called the ‘Community Commerce Initiative.’ This encouraged users to enjoy discounts when using certain merchants and apps that accept the Pi token as payment. The team also made things fun by hosting a raffle where members had a chance to win Pi-themed merchandise like T-shirts and hats.
In addition, the team shared a video update about a holiday design makeover for one of their popular games, FruityPi. This new game version includes updates like new music, animations, and other ways to make it more engaging for users.
Upgrades to Pi Network’s Systems
Recently, Pi Network discussed improvements to two key systems they are working on:
- Testnet Decentralized Exchange (DEX): A DEX is an online platform for trading cryptocurrencies that doesn’t rely on a central authority. Instead, it uses smart contracts to operate (explore here).
- Automated Market Maker (AMM): This system helps buyers and sellers trade without needing a middleman by using software to automate the process (read more about AMMs here).
One major improvement involves focusing on “Pi-denominated liquidity pairs,” making Pi the main asset on the testnet exchange. This idea is inspired by other well-established decentralized finance (DeFi) platforms, where concentrating activity around one primary asset improves price stability and reduces confusion in trading.
The team has also updated how the DEX and AMM look, aiming to make them easier to use, especially for people who are new to such systems.
Will Pi Token’s Value Go Up?
Pi token’s price has stayed surprisingly stable recently despite earlier ups and downs. In October and November, the price climbed to $0.30 but then dropped to around $0.20, where it has mostly stayed since. Even during the quiet holiday period, it has held steady, currently sitting just above $0.20, showing a slight daily uptick of about 1%.
Another positive sign is that investors are withdrawing their Pi tokens from exchange platforms. When fewer tokens are available for sale, it can reduce selling pressure and potentially help the price rise.
There’s also a possibility that Pi could be listed on Binance, one of the largest cryptocurrency exchanges in the world (more about Binance here). Such a move often makes cryptocurrencies more accessible and could create more interest, potentially boosting the token’s price.