BANXA Buys Pi Coin for 30.5 Million, What Does It Mean?

Bittime - global payments company, BANXA buys Pi Coin by more than 30.5 million Pi Coins or worth approx $19 million. 

With this investment, BANXA now allows its users to purchase Pi Coin directly via their platform and send it to a private wallet. 

This feature certainly makes access to Pi Coin easier, especially in the Pi community which continues to grow rapidly. Read this article to find out more!

The Growth of Pi Network

Pi Network currently has more than 60 million users worldwide, an incredible number for a project that has yet to fully launch mainnet.  

Unlike most other cryptocurrencies, Pi Network was built specifically for mobile users, with a user-friendly approach and a solid community.

Pi Network's main focus is not just hype, but real real use in everyday life.

Read Also: Pi Network Price Conversion Today: 1 Pi Coin How Much USD?  

Pi Network Open Mainnet 

Even though the popularity of the Pi continues to skyrocket, the Open Mainnet Pi Network has not yet launched. Currently, developers and business people who are interested in building applications or services on the Pi network still have to wait Open Mainnet launch.

If Open Mainnet has been launched, then Pi Network will be completely decentralized and open to the public, enabling innovation and wider adoption. 

This investment from BANXA is also a new trigger for the community to encourage the Pi Network core team to accelerate the launch of this phase.

BANXA Buys Pi Coin

BANXA's move to buy 30.5 million Pi Coins is not just a matter of adding to the collection of digital assets, but is a form of belief in the potential of the Pi Network. 

This shows that Pi Coin is no longer considered an experimental project, but rather a growing digital economy.

By supporting direct purchases and strengthening payment infrastructure, BANXA is helping Pi Coin transform from just a mined token to digital assets that have real value in the market.

Read Also: Pi Network Migration: Everything You Need to Know!

Pi Coin Price Still Consolidating

Even though the hype continues to increase, Pi Coin price is currently still consolidating in the range $0.58. Several times he tried to break through the resistance at $0.60, but failed, and now the support level at $0.55 is starting to come under pressure.

Meanwhile, the RSI and MACD indicators show that the market is still not sure about the direction of the Pi Coin price movement. Without a spike in trading volume or listing on a major exchange, the price of this coin has the potential to stagnate.

Conclusion 

Even though the Pi Coin price is currently still consolidating, action BANXA buys Pi Coin shows that there is strong trust from industry players towards potential Pi Network. 

Although there are still many challenges, especially regarding the open mainnet launch and widespread adoption, signals from the community and large investors show that Pi Coin began to gain attention in the crypto world.

Read Also: Pi Network Listing on Binance Can Save Pi Coin Price?

Pi Network FAQs

What is Pi Network?

Pi Network is a crypto project that allows users to mine tokens directly from their mobile phones. The project is designed to be user-friendly and energy efficient compared to traditional mining methods such as Bitcoin.

How Does the Pi Network Work?

Pi Network uses a consensus model based on the Stellar Consensus Protocol (SCP) so users only need to open the application every day to mine. This activity does not drain the battery or device resources.

Is Mining Pi Network Tokens Free?

Yes, mining Pi Network tokens on the Pi Network app is completely free. However, users need to be active every 24 hours to press the "mine" button and maintain active membership in the network.

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Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference

Coinpedia, Pi Network News: BANXA Buys 30.5M Pi Coins, Bets on Growth, accessed April 9, 2025.

Author: IPR