Pi Network (PI) News Today: December 16th
Pi Network has rolled out necessary updates, and its ecosystem continues to evolve, however the native token of the undertaking stays in pink territory.
In the next traces, we’ll contact upon all the things most attention-grabbing surrounding these matters.
The Recent Development
Pi Network’s Core Team took middle stage on the finish of August when it launched the Pi Hackathon 2025: an occasion with a 160,000-coin prize pool for the highest eight individuals. The initiative’s final purpose was to encourage Pioneers to create real-world functions that develop the utility of the PI token, and it was supposed to finish in mid-October.
The crew remained silent for some time and at last announced the occasion’s conclusion and winners final week. First place and a reward of 75,000 cash went to Blind_Lounge, whereas Starmax completed second and took house 45,000 tokens.
In the next days, Pi Network shared extra details about the winners. It described Blind_Lounge as “a privacy-first social and relationship platform the place individuals join anonymously and reveal identities solely by mutual alternative.”
Several hours in the past, it touched upon Starmax, too, classifying it as “a loyalty program app that allows companies to supply loyalty packages utilizing Pi.”
“Pioneers can spend Pi at taking part shops and earn rewards, whereas companies can design their very own loyalty packages straight throughout the app to have interaction with and develop their buyer base. Since Starmax’s loyalty system matches naturally into current retailer operations, the app has sturdy potential for real-world adoption, as a possible software for tens of 1000’s of retailers built-in with Pi,” it added.
What’s Next on the List?
Many Pi Network customers have been battling KYC procedures, and the crew has tried to give you an answer for these points. Not way back, it integrated extra AI instruments, making it simpler and quicker for Pioneers to finish the verification course of.
This weekend, Pi News (an X account that tracks the developments associated to Pi Network) said that thousands and thousands of customers have already accomplished the required KYC procedures, claiming that the eye is now on “the explosive progress of utility functions.”
“The actual shining second for Pi will come when an enormous variety of real-world use circumstances (DApps, items, providers) emerge,” the submit reads.
PI Price Outlook
Despite the information and developments associated to Pi Network, PI’s valuation retains heading south. As of this writing, it’s value round $0.19, representing a 4% each day decline and a whopping 93% drop from the historic peak of $3 witnessed earlier this yr.
X person Web3_Vibes argued that PI is “approaching the native backside,” predicting {that a} pump will rely closely on a possible bounce off the $0.192 assist degree.
Meanwhile, the upcoming token unlocks are additionally value observing. Data exhibits that 172.5 million cash can be freed up over the subsequent 30 days, giving buyers the prospect to dump belongings they’ve been ready for a very long time. This might translate into extra provide hitting the market and weighing on the worth.
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