TL;DR

Pi Network pushed the auction deadline for its Web3 domain names to the end of September. PIs price recently slumped to a new all-time low, dragged down by a market-wide correction, ongoing token unlocks, and declining investor interest.

More Time for Pioneers

Pi Networks ecosystem consists not only of its native cryptocurrency but also numerous other features. Among the examples are the .pi Domains, which, according to the team, are intended to be functional Web3 identifiers, anchors for PI-powered apps, services, and storefronts. 

Just recently, the team reminded that the .pi Domains Auction was extended to September 30, 2025, in order for users to have additional time to innovate, build, and bid for their applications. 

Through the domains, pioneers will be able to personalize their PI wallets or identities. For example, instead of long addresses consisting of multiple letters and numbers, people can use their names and the .pi ending to receive payments or operate within the ecosystem. The domains are similar in concept to .eth (Ethereum Name Services) or .bnb (BSC Name Services).

Pi Networks team is notorious for its extensions of previously set deadlines. The project, which saw the light of day in 2019, had postponed the launch of its Open Network and many other important events over the past few years.

The latest extension wasnt met kindly by many members of the community, with some labeling Pi Network as a scam and others losing their trust in it. 

PI Continues to Decline

The price of Pi Networks native token has been in a state of free fall over the past months, recently plummeting to a new all-time low of $0.33 (per CoinGeckos data).

PI Price, Source: CoinGecko The negative performance aligns with the latest correction of the entire cryptocurrency market, the constant unlocks of PI tokens, and the diminished investor interest in the asset. 

However, the recent accumulation of a mysterious whale and the potential listing of the asset on a major exchange may reverse the bearish trend. There are some rumors that Binance could embrace PI in mid-August: a move that will increase the tokens liquidity, improve its visibility, and provide it with a reputational boost. 

The worlds biggest crypto exchange, though, hasnt announced anything officially on the matter and continues to stand aside from the asset. Some of the well-known platforms where people can trade PI include Gate.io, Bitget, OKX, and others.