PI followed the red wave in the crypto sector, with its price falling to $0.22.
Pi Network remains in the center of attention due to recent ecosystem advancements and investments surrounding the crypto project.
Despite its fall over the past 24 hours, PI is one of the very few digital assets in the top 100 positioned in green territory on a two-week scale.
Getting started with AI and more
Last week, Pi Network made headlines by partnering with OpenMind (a company that develops an operating system for robots). The partnership marked its first investment in the artificial intelligence (AI) sector, with the ultimate goal of improving the utility of the IP and integrating the token into real-world use cases.
OpenMind was excited to share this collaboration, saying it would connect the two communities who have a common vision: “using blockchain to drive real impact.” However, neither party revealed the exact amount of the investment. Earlier this week, Pi Network brought up the deal again, stating:
“The Pi Network and OpenMind proof-of-concept project, in which OpenMind’s AI models can run on Pi Node infrastructure, explores the ability of Pi’s global network of nodes to support decentralized AI training and computing tasks. »
Other recent developments related to the controversial crypto project include speculation that it has joined the ISO 20022 race and the official activation of Testnet2 v23.
Price Outlook
At press time, PI’s valuation is hovering around $0.22, representing a 4% decline on a daily basis, coinciding with the broader crypto pullback. Its market capitalization stands at approximately $1.9 billion, making it the 66th largest asset in the entire industry.
However, PI remains in the green zone on a 14-day scale, recording a 12% gain. Some of the factors contributing to the positive performance during this period may include the above developments.
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The next targets
Pi Network has a huge and dedicated community, many of whose members believe the price of the coin could skyrocket in the future. X user Lord Drey, for example, envisioned a rise to between $3 and $5 by 2028, arguing that IP’s fundamentals are “wildly optimistic.”
On the other hand, the increase in the amount of coins stored on exchanges suggests that a more severe correction could be on the way. Data shows that more than 600,000 PI tokens were transferred to such platforms in the past day alone, leading to increased selling pressure.
Upcoming releases (although less significant than those of previous months) could also play a negative role. Nearly 130 million tokens are expected to be released over the next 30 days, giving users the chance to dump long-awaited holdings.
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