Pi Network Makes a Comeback with Domain Auction that Sparks Enthusiasm from Its Community

After a period of quiet and declining investor interest, Pi Network has made a comeback with a domain auction that sparked great enthusiasm from its community.

Jakarta, Pintu News – After a period of quiet and declining investor interest, Pi Network has made a comeback with a domain auction that sparked great enthusiasm from its community.

Despite a drastic drop of 73% in the price of Pi Coin from its high point and the presence of new tokens that are being sold off, the surge in participation in this auction has brought hope for the potential development of the Pi blockchain ecosystem.

In less than a week, more than 200,000 bids have been submitted by over 40,000 unique users, covering approximately 95,000 .pi domain names. Around 3 million Pi tokens have been committed in the auction process, with some premium domains selling for up to 30,000 Pi per name.

Currently, the value of 1 Pi Coin is $0.7885 or around Rp13,101 (assuming 1 USD = Rp16,612), down from its peak of $2.98 (Rp49,489).

Domain names associated with big brands like Amazon and Samsung became prime targets, sparking fierce competition. This is attracting attention from developers and businesses who are starting to see the value in building on top of the Pi network. Pi Network’s core team hopes that this trend will drive the growth of services within their ecosystem.

Proceeds from the domain auction are planned to be allocated to various programs, including developer funding, community events, and expansion of the Pi ecosystem. The goal is to create long-term utility and encourage sustainable development within the platform.

Applications developed on the network can still obtain domain names without having to participate in a public auction, although they will have to renew those domain addresses regularly like a traditional web domain system.

Currently, .pi domains only work within the Pi browser, making it a “digital estate” that is more of a long-term investment than an immediate need.

While the surge in user activity is energizing, other challenges still haunt the Pi Network. Some still highlight the lack of transparency from the project’s core team.

In addition, regulatory uncertainty and the fact that Pi Coin is not yet listed on major exchanges such as Binance are obstacles in expanding the token’s exposure.

However, developer enthusiasm and increased community participation are giving positive signals. Tangible activities such as domain auctions are considered more grounded than just market hype.

Whether this momentum is enough to lift Pi Coin’s value and position in the crypto market is still an open question.