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

▲ Pi Network/Source: X

Pi Network (PI) is emerging as a new leader 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 applications.

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

From a technical perspective, Pi Coin successfully established a new price support level by breaking through the key resistance line of $55.4 with strong trading volume. The current price is trading around $62.8, and the 20-day moving average and 50-day moving average 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 exceeded 15,000 globally. This expansion of practical utility is considered a significant indicator showing that virtual assets are becoming a payment method in the real economy, beyond simple speculative tools.

The explosive community participation and ecosystem expansion are leading to institutional investor interest, supplying abundant liquidity to the market. With the recent launch of several Pi Network-based decentralized financial services, the amount of staked Pi Coin has hit an all-time high, which is reducing the circulating supply in the market and increasing upward price pressure. Experts evaluate that Pi Coin's unique mobile mining ecosystem has secured differentiated competitiveness compared to other Layer 1 projects, predicting a high possibility of long-term value appreciation.

Pi Network is entering a virtuous cycle of infrastructure growth and price appreciation, solidifying its position as a leading altcoin in the market. Market participants are closely watching the upcoming full mainnet opening schedule and additional infrastructure expansion plans, believing they will critically impact Pi Coin's ability to reach its final target price.

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