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Pi Network has rolled out two major upgrades to its Pi Wallet, enhancing the user experience and driving mainstream adoption. Users can now purchase PI tokens directly through a new 'buy' feature and access exchange and mining options from their wallet interface.
The Pi Wallet update introduces enhanced security features and streamlined transactions for early adopters. The recent Pi Wallet update hints at future integrations aimed at preparing for token mainnet utility.
The updated Pi Wallet allows users to buy PI using various payment methods, including debit/credit cards, Google Pay, and Apple Pay. Moreover, the wallet now features buttons to access crypto exchanges and 'Mine Pi for Free,' enabling users to navigate the Pi ecosystem more easily.
Pi Network News this week includes announcements on partnerships and ecosystem development. These improvements reduce friction for new users and suggest a shift towards simplifying the way people access tokens within the app environment. The anticipated Pi token purchase feature could soon allow users to buy and trade tokens directly within the app.
The use of on-ramp services like Banxa and Onramper indicates the Network's desire to limit its reliance on third-party exchanges and continue to develop a full suite of financial services within the app. The improvements also suggest potential future integrations with larger cryptocurrency exchanges, as the interface indicates support for Binance Connect and Binance P2P services.
Despite these technical upgrades, the PI price remains under pressure. The token is currently trading below $0.44, recording a 3% weekly decline and a 27% monthly drop. The upcoming token weighs down the market sentiment and unlocks the schedule. Between July 28 and 29, over 10 million PI tokens are scheduled for release, which could potentially add considerable short-term selling pressure.
This follows earlier unlocks throughout July, where over 300 million tokens were released into circulation. While these unlocks help bring locked assets into the open mainnet environment, they also temporarily increase supply without proportionate demand, pressuring prices.
Also Read: Pi Network’s Mainnet Set for a Boom as AI App Creation Nears 10,000 Mark
Despite near-term price challenges, Pi Network continues to expand its ecosystem. The Pi App Studio, introduced on Pi2Day, now supports thousands of dApps, while new tools like Directory Staking boost visibility for on-chain applications. Node updates and wallet features also improve technical infrastructure for both users and developers.
Long-term holders and whale accounts have continued to accumulate, signaling belief in Pi Network’s future. While technical indicators remain bearish with PI below its key moving averages, recovery potential exists if ecosystem demand accelerates and listing opportunities increase.
A reliable crypto on-ramp is critical for expanding the Network’s user adoption and market liquidity. Developers are closely monitoring token unlock pressure, as it may influence price action once trading begins.
As Pi Network improves user access and expands its tools, the PI price may remain under pressure in the short term due to unlocks. However, ongoing ecosystem development and simplified onboarding could lay the groundwork for future price stabilization and growth.
