- Fiat purchases now in Pi Wallet, confirming via X.
- PI price rose, trading volume surged significantly.
- Enhances user accessibility and participation in the network.
Pi Network has introduced a new feature allowing direct fiat-to-PI purchases in their Pi Wallet, confirmed by the Pi OpenMainnet account on X.
This recent update from Pi Network signifies an important expansion in user access, allowing straightforward entry into the ecosystem. Initial market reactions have shown a positive response with increased price and trading volume.
The update was officially announced by the Pi OpenMainnet account, spearheaded by core founder Dr. Nicolas Kokkalis, a Stanford PhD in distributed systems. The new feature allows users to purchase PI using fiat currencies directly within the Pi Wallet, reducing dependence on centralized exchanges.
“You can now buy PI directly with fiat like AUD within Pi Wallet. This is only available to fully verified users—ensuring security and compliance at launch.” – Pi OpenMainnet
The ability to buy PI with fiat has resulted in a 6% rise in PI price, with trading volumes increasing by 243% to nearly $200 million. This reflects significant interest and potential for on-chain growth, indicated by the migration of over 500,000 new users to the mainnet.
This development increases overall user accessibility and simplifies participation for verified users. The shift suggests possible positive trends in the network’s on-chain activity and liquidity for their native token.
Experts suggest that this could serve as a model for other networks seeking to ease fiat access directly. The lack of impact on major cryptocurrencies reflects Pi’s focus on its ecosystem advancement rather than broader market shifts.
The feature enhances the utility of the Pi Network, with insights pointing toward potential longer-term market shifts. Financial accessibility improvements may inspire similar adaptations in other blockchain-based ecosystems. By facilitating easier access, this advancement speaks to the network’s strategy toward fostering greater user engagement.
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