Pi Network is likely planning to introduce a price stabilisation mechanism
of its Pi Coin token. The community discovered a smart contract associated with Chainlink that references Pi Coin, suggesting an effort to stabilize its value through an automated token minting and burning process.
This mechanism could reduce Pi Coin’s volatility, similar to that of stablecoins pegged to assets such as USD or gold. Analysts believe that a stabilized Pi Coin could attract more users and investors due to a more reliable valuation method, which would increase its acceptability in everyday transactions and in decentralized finance (DeFi) ecosystems.
Currently, the price of Pi Coin is around $1.68, with a market capitalization of approximately $11.33 billion. There is also speculation of a possible listing of Pi Coin on Binance, which could provide a significant boost in liquidity and potentially propel Pi Coin into the top ten cryptocurrencies by market capitalization.
Despite this speculation, it is important to note that PiCoreTeam has not yet confirmed the authenticity of the information regarding the price pegging mechanism. Investors should exercise caution and monitor the Pi Network team’s official announcements for accurate and up-to-date information.
Translated with DeepL.com (free version)