Pi Network continues to face challenges as many predict this chaotic scenario will persist. Notably, many have expressed frustration over the lack of transparency from the Pi Core Team. Moreover, concerns about the centralization of Pi Coin further affect investor sentiment.

In this context, a top market expert and trader revealed that cryptocurrency may witness growth in the near future. At the same time, the expert also disclosed the relationship between Pi Network and Pi Coin. Simply put, the expert emphasized how this coin is used within the network. Additionally, he remains optimistic about the future trajectory of this asset.

Analyst Emphasizes Catalysts for Pi Network's Development

In a recent post on X, cryptocurrency analyst Kim H Wong highlighted the key challenges and opportunities ahead for Pi Network.

Wong notes that Pi Coin has a solid infrastructure and a massive user base. However, he stated that its recovery depends on two factors: widespread acceptance and DApp development.

He emphasizes that Pi Network is ahead in vision and scope. This platform provides a peer-to-peer ecosystem where users can trade goods and services using Pi Coin via mobile phones.

Furthermore, it boasts over 65 million users in more than 200 countries, making it one of the largest cryptocurrency communities globally.

Meanwhile, Wong added that Pi's unique ecosystem supports decentralized applications (DApps) and operates within the .pi domain environment.

He cited these as something no other cryptocurrency project is currently doing. In other words, he believes this positions Pi to lead in the adoption of Web3.

However, he warns that this ecosystem still lacks practical DApps that people can use daily. To bridge this gap, Wong mentioned the $100 million Pi Venture Capital Fund and Pi App Studio, both aimed at accelerating DApp development with AI tools.

KYC and Electronic Money Transfer Must Be Accelerated

Despite having millions of users, Pi Network still faces a significant hurdle. To clarify, Wong emphasized that only about 14 million users have completed KYC.

Even fewer, about 12 million people, have successfully converted their funds to the mainnet. Wong explains that without proper KYC processes and fund conversion, most users cannot actively participate in the ecosystem.

Migrants are often only allowed to unlock 10% of their funds, with the remainder locked for up to three years.

The restriction on access to this coin is affecting trading activities and negatively impacting overall adoption. Wong warns that if this issue is not quickly resolved, the ecosystem risks stagnation, regardless of how advanced the technology is.

Pi Coin Drops, Can It Recover?

The price of Pi Network has dropped more than 1.5% and is trading at $0.4412, while trading volume has decreased by 52% to $52 million.

Notably, this cryptocurrency has fluctuated between $0.4548 and $0.4408 in the past 24 hours. This bleak downward trend is further reflected in the more than 5% weekly drop in Pi Coin's price.

At the same time, this coin has lost more than 16% in the past 30 days, indicating that traders' appetite for risk-taking is gradually diminishing.

However, despite the decline, experts remain optimistic about the long-term trajectory of this coin. In context, Wong remains optimistic, urging traders to be patient and focus on long-term gains.

Citing historical data, Wong compares Bitcoin, Ethereum, BNB, and Solana. All of these coins started modestly, trading at prices below one dollar, and have since witnessed remarkable growth.

For example, the price of Bitcoin surged from $0.05 to over $118,000 in 15 years. In other words, this expert believes that Pi Network is likely to witness a strong recovery in the future.