Pi Network (PI) News Today: November 4

PI has followed the red wave in the crypto sector, with the price falling to $0.22.

Despite a decline in the past 24 hours, PI is among the few top 100 digital assets positioned in green territory on a two-week scale.

Jumping into AI and more

Last week, Pi Network made headlines by collaborating with OpenMind (a company that develops an operating system for robots). The partnership marked the first investment in the artificial intelligence (AI) sector, with the ultimate goal of increasing the usability of PI and putting the token into practice in real-world situations.

OpenMind was excited to share the collaboration, proverb it will connect the two communities who share a common vision: “using blockchain to drive real-world impact.” However, neither party disclosed the exact size of the investment. Earlier this week, Pi Network touched on the deal again: to report:

“Pi Network and OpenMind’s proof-of-concept project, which will allow OpenMind’s AI models to run on Pi Node infrastructure, explores the capabilities of Pi’s global network of nodes to support decentralized AI training and computing tasks.”

Other recent developments regarding the controversial crypto project include speculation that it has joined the ISO 20022 race and the official activation of Testnet2 v23.

Price outlook

At the time of writing, PI’s valuation is hovering around $0.22, representing a 4% decline on a daily basis, coinciding with the broader crypto retreat. Its market capitalization is approximately $1.9 billion, making the asset the 66th largest in the entire industry.

However, PI remains in the green zone on a 14-day scale and registers a gain of 12%. Some of the factors that contributed to the positive performance during that period may include the developments mentioned above.

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The following goals

Pi Network has a huge and dedicated community, many of whose members believe the coin’s price could skyrocket in the future. X user Lord Drey, for example in mind a rise to $3 – $5 by 2028, arguing that the fundamentals for PI are “tremendously bullish.”

On the other hand, the increased number of coins stocked on exchanges suggests that a bigger correction could be on the way. Data shows that more than 600,000 PI tokens were transferred to such platforms in the past day alone, leading to increased selling pressure.

The upcoming unlocks (although not as substantial as those in previous months) could also play a negative role. Nearly 130 million tokens are scheduled for release in the next 30 days, giving people the opportunity to offload assets they’ve been waiting to own for a long time.