Pi Network Listed on Onramp: Adoption Boost or Hype?
Onramp Listing Expands Pi Network Access Globally
Pi Network is now fully integrated with Onramp Money, extending its reach to users in over 60 countries. This listing facilitates direct purchases of the Pi Network token (Pi) using local payment methods. The integration supports channels like GCash, Maya, and Alipay, allowing users to buy Pi in their native currencies. Onramp advises users to whitelist their Pi wallet addresses to ensure successful transactions.
This move represents a significant fiat-to-Pi onramp, potentially enhancing liquidity and availability. It aligns with Pi Network's recent protocol upgrades aimed at solidifying its ecosystem and easing access for its global user base.
Controlled Distribution Model in Play
Crypto analyst Dr. Altcoin suggests Pi Network is strategically issuing tokens directly to KYB-approved onramp partners from its foundation wallets, rather than saturating centralized exchanges. This approach aims for a controlled distribution model and natural ecosystem growth.
Partnerships with firms like Onramp Money, Banxa, and TransFi – operating in 100 countries and supporting 170+ payment methods – demonstrate Pi Network's focus on accessibility and regulatory compliance. The European launch of a Pi Network ETP further underscores institutional support for the ecosystem.
According to Dr. Altcoin, this strategy prioritizes ecosystem utility through applications, payments, services, and peer-to-peer commerce. By controlling token distribution, Pi Network aims to balance accessibility with regulatory compliance.
Price Action Lags Despite Adoption Efforts
Despite the Onramp Money listing, Pi coin's market performance remains weak. Recent data shows a price of around $0.34, reflecting a 4.52% drop in the last 24 hours. The token has also experienced a 7.57% decline over the past month and a substantial 80.98% decrease over the last six months.
The chart indicates limited buying pressure, with sellers dominating trading sessions despite positive news. The token briefly tested the $0.35 level but failed to maintain momentum.