Pi Network has recently integrated into Telegram’s crypto wallet, which opens up access to over 1 billion monthly users. This integration allows Telegram users to buy PI tokens directly within the app, presenting a significant opportunity for Pi Network to expand in the cryptocurrency market. Telegram CEO Pavel Durov announced this development, highlighting the potential for growth in visibility and user engagement.
However, Pi Network still faces significant challenges. It has not yet been listed on major exchanges like Binance or Coinbase, which are crucial for building trust and increasing demand for the token. Despite this setback, supporters of Pi Network view the integration with Telegram as a positive step toward wider adoption, particularly in the decentralized finance sector.
The PI token had a promising start, nearly doubling in value during its first week and reaching a peak of $2.92 on February 27. Unfortunately, the price has since declined, dropping over 25% in the past week due to ongoing liquidations and skepticism from major exchanges. This decline indicates a waning interest from buyers.
The integration with Telegram offers a glimmer of hope for Pi Network. Durov, who recently returned to work after an arrest in August 2024, shared that Telegram has surpassed one billion monthly active users, making it the second-most popular messaging app globally, after WeChat. Users typically spend about 41 minutes daily on the app, which could be beneficial for crypto activities.
Despite the large user base, the crypto wallet features on Telegram have not yet been fully utilized. While Pi Network now has a pathway to reach millions of potential users, it must encourage them to buy and hold the token. Without strong user engagement, the price may continue to decline.
