- Pi Network extends developer programs, seeking more utility and applications.
- Current price action shows strong community support and growth potential.
- With major expansion planned, analysts forecast PI token value could surge 863% in 12 months.
The peer-to-peer cryptocurrency project Pi Network has recently announced an extension to its Developer Ambassador Program as it continues working to expand its ecosystem rapidly. With strong adoption growth and rising developer activity, analysts predict Pi’s IOU token value could surge over 800% next year.
Developer incentives extended as Pi seeks more utility.
Pi Network originally planned to run its Developer Ambassador Program only until the end of September. However, likely encouraged by the initiative’s early success, Pi has now announced a two-month extension until December 31, 2023.
The program rewards users for referring developers to build new dApps on Pi’s blockchain, paying out 1000 PI tokens for each completed project. This represents Pi’s push to add more real-world utility and applications to its network beyond just a payment system.
Strong developer support and activity are critical for any crypto project looking to thrive long-term. With Pi’s users recently passing 47 million active members, launching on Pi offers developers access to a vast potential market.
Current price action points to continued growth.
Although PI has yet to have its official mainnet launch and start public trading, some exchanges already offer IOU tokens that allow estimates of price performance. The IOU value recently rallied over 140%, holding well above its former lows.
This shows PI already has strong community support leading to its full release. Analysts expect buying demand to rise steadily as the network expands with more developers building real utility.
Significant price ramp expected within 12 months
Image Credit:coincodex.com
Based on current growth trends, the CoinCodex algorithm predicts Pi’s IOU value will surge 863% over the next year. This would represent a new all-time high of $291.20 per PI token.
Of course, the actual price action once PI launches publicly remains to be seen. But Pi’s massive adoption and ecosystem expansion suggest principal room for growth.
The road ahead for Pi
With the extended developer incentives, Pi Network is gearing up for a busy year of platform expansion in 2023. Adding more utility and applications will be vital in maintaining strong user demand. The projections for triple-digit returns within 12 months indicate investors are bullish on Pi’s future potential. As adoption and activity continue rising in anticipation of the mainnet launch, PI appears positioned to see substantial price appreciation.
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
