The Pi Bridge continues to add new updates but the utility token lacks true utility until the Pi Network mainnet opens.
Pi Bridge Faces Price Volatility
Pi Bridge has faced roller-coaster up and down price action since launching on the New Year. Yet despite building out several features, the Pi Bridge utility token still lacks its true utility.
Fluctuating mostly between $0.04-$0.05, the nano-cap token hit a high of $0.11 on January 7 but has struggled to maintain levels. Since hitting a new all-time high on Jan. 7, the token has endured a steady downward trend to its current price level of $0.04036.
The token currently sits about 64% off the all-time high however still remains over 100% above the low price of $0.019. Will the millions of Pioneers start to pay attention?
“We are building a parallel platform with Pi Network. And almost ready when Pi mainnet succeeds. The features on the App are designed specifically for Pioneers, so this community is very interested,” Victor Nguyen of Pi Bridge told BSC News.
The Pi Bridge team is continuing to roll out updates like recent Android improvements that improve withdrawal features to bring in holders. They also added staking as a service to help entice more users and increase the tendency to lock tokens long-term. Locking tokens longterm can help reduce price volatility.
Ultimately, the new token connected to Pi Network will likely continue to see volatile price action as long as the Pi Network mainnet remains closed. The low market capitalization–around $11 million, according to CMC–– also drives volatility due to the potential for market manipulation at low values.
Ultimately, the closed mainnet will always remain the biggest impediment to any growth of the platform. The true utility of the token is to act as a bridge between Pi Network and BNB Chain. Until the network opens, the utility will be left unfulfilled.
The Pi Bridge team plans to continue building and will even participate in the upcoming Pi Network Hackathon. The hackathon began on Jan. 11 and saw over 1900 projects join.
“Currently, in addition to the app, Pibridge also has a Dapp to serve Crypto enthusiasts out there. We also have a team for the PCT Hackathon and will announce it in the next few days!” added Nguyen,
What is Pi Bridge:
PiBridge is a hybrid all-in-one financial application platform combining of both DEX and CEX models with multi-chain & cross-chain AMM, farming, lending, fundraising platform (launchpad), prediction, NFT, and more features. All products will be developed with Pi Network as the base.
Where to find Pi Bridge:
What is Pi Network:
Pi Network is a novel cryptocurrency and developer platform that allows mobile users to mine Pi coins without draining the device’s battery. Pi’s blockchain secures not only economic transactions via a mobile meritocracy system but also a full Web 3.0 experience where community developers can build decentralized applications (dApps) for millions of users.
Where to find Pi Network:
Source : bsc.news
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