Pi Network Gains Traction with Telegram Integration, But Challenges Remain
Pi Network has recently partnered with Telegram’s integrated crypto wallet, potentially unlocking access to a vast new audience.
Telegram, led by CEO Pavel Durov, now boasts over 1 billion monthly active users, providing Pi Network with a significant opportunity to broaden its reach.
This integration allows Telegram users to purchase PI directly through the app’s crypto wallet, significantly boosting the token’s visibility. However, Pi Network still faces hurdles, particularly its absence from major exchanges like Binance and Coinbase, which could enhance its credibility and attract more investors.
Pi Network initially saw rapid growth, peaking at $2.92 in late February. Since then, the token has faced steady liquidations, with limited demand and delays in getting listed on prominent exchanges. Despite these challenges, the Telegram integration sparks new hope for the PI community.
Telegram’s expanding crypto features could provide a boost, especially with the app’s growing user base. Durov recently revealed Telegram’s surge to over 1 billion active users and rising engagement, indicating the platform’s increasing influence. This opens the door for Pi Network to tap into a massive pool of potential investors, with the platform’s average user spending 41 minutes daily on Telegram.
Despite this opportunity, Pi Network’s price has still dropped by more than 25% in the past week, reflecting waning interest in the token. While Telegram’s integration offers potential, Pi Network’s success hinges on its ability to convince Telegram users to engage with and invest in the project. If it fails to do so, the token’s downward trend may continue.
Editorial Team
Reporter at Coindoo
