Despite recent criticism regarding Pi Network’s native token performance, the project is experiencing renewed momentum and growth. A leading X channel dedicated to Pi Network provides an update on key developments ahead of the upcoming Hackathon deadline. 📈 The Pi Mainnet ecosystem is booming! Over 210 live applications are currently operational, with more than 23,000 in the Pi Studio queue for launch on the Mainnet soon.
🚀 A growing ecosystem fueled by a surge in user engagement is evident as the Hackathon deadline approaches. With over 210 live apps and numerous projects expected to launch post-event, the excitement is palpable!
The Pi Network Hackathon competition, which began late August, closes on October 15th, and promises to incentivize users to develop new applications for the Pi Network Mainnet. The event boasts a prize pool of 160,000 PI tokens, with 8 teams receiving awards based on their submissions.
The Hackathon’s halfway point review highlighted some of the most successful applications released during the competition. With the team behind the project posting a progress update in September, it’s clear that development is underway!
However, Pi Network’s native token has been under pressure for months, with recent dips leading to significant declines. The latest drop saw the token plummet to $0.1721 (CoinGecko data), marking an over 94% drop from its all-time high in late February at $2.99.
Despite this challenging situation, the unlock schedule for PI tokens is slated to ease up in the coming weeks, offering potential relief from immediate selling pressure. This could signal a positive trend in the near future.
The Pi Network Update: Promising News for Users Ahead of Hackathon Deadline