TL;DR

The .pi Domain Auction aims to provide pioneers with personalized options for easier identity and app access. PIs price continues to struggle, sliding to about $0.33. The upcoming token unlocks and the increased amount of coins stored on exchanges intensify the selling pressure, though rumors of a potential Coinbase listing keep hopes for a rebound alive.

Information About the Upcoming Feature

The team behind Pi Network issued another announcement regarding the .pi Domain Auction. It reminded that the platform-level utility directly harnesses the collective resources of the Pi community, including its attention and authenticity. Having said that, the developers expect the campaign to be successful. 

The auction is a bidding event that will enable Pioneers to acquire unique .pi domain names. These will replace the users long addresses, consisting of numerous letters and numbers, and will be similar in concept to .eth (Ethereum Name Services) and .bnb (BSC Name Services). 

Designed for active use, .pi domains become recognizable access points for apps in the ecosystem, making it simple for others to find, use, and share, the team said. 

Earlier this month, Pi Network reminded Pioneers that the auction has been extended to September 30, 2025, allowing them more time to innovate, build, and bid for their applications. 

The latest disclosure was met with mixed feelings. Some community members argued that the crypto project has much bigger problems to solve rather than focus on such a development. Others, though, praised the initiative, claiming it can generate more trust if delivered on time. 

PIs Price Decline

Despite the frequent developments surrounding the controversial project, the price of the native token has continued to sink. During the latest correction of the cryptocurrency market, PI plummeted to a new all-time low of roughly $0.33, representing a staggering 90% decline compared to the historical peak of around $3 witnessed in February. 

Factors like the multi-million token unlock scheduled for the next 30 days and the rising amount of coins stored on crypto exchanges increase the selling pressure. 

Contrary to the bearish landscape, there are still optimists who believe PI could reclaim its former peak and even surpass it. Additionally, there have been increased rumors that Coinbase may soon offer trading services for the asset. Such a move will most likely trigger a significant price surge, but as of this writing, there is no official announcement.