The Pi Network has ignited considerable excitement within its community with its recent .pi domain auction.
Following a period fraught with KYC discussions and price declines for Pi Coin (PI), this event has brought the cryptocurrency back into the spotlight. The auction attracted over 200,000 bids from around 40,000 participants competing for 95,000 .pi domains, particularly drawing attention for names associated with major brands like Amazon and Samsung.
Strong Participation in Pi Network Domain Auction
The Pi Core Team recently announced that the interest in the .pi domain auction exceeded expectations. Participants utilized approximately 3 million Pi coins in the auction, with some popular domain names receiving bids as high as 30,000 Pi coins each.
This strong engagement highlights the growth of the Pi Network ecosystem and the community’s interest in it. The Pi Core Team stated that proceeds from the auction would be invested in developing the Pi ecosystem, focusing on enhancing developer programs and events centered around Pi Network.
It is important to note that the domains offered can currently only be used through the Pi Browser and must be renewed like traditional domain names. Furthermore, it’s possible to acquire domain names through applications within the Pi ecosystem without participating in the auction.
Can Pi Coin Recover to $1 Again?
Pi Coin’s price has dropped by 5% to $0.87 due to recent coin unlocks and increased selling pressure. However, community members remain optimistic, hoping for the altcoin to rise back to the $1 mark, supported by rumors of a potential listing on the Upbit exchange.
Concerns regarding the transparency of the Pi Core Team persist, as this issue is cited as a primary reason major exchanges like Binance have yet to list Pi Coin. Nonetheless, the positive atmosphere within the community and strong participation in recent events bolster hopes that Pi Coin will reclaim the $1 level and potentially rise higher.
