Pi Network Secures Investment from SpaceX Backer 137 Ventures Ahead of Mainnet Launch

Pi Network (PI) has received investment from 137 Ventures, a prominent Silicon Valley venture capital firm known for funding industry disruptors like SpaceX and Spotify. This strategic endorsement coincides with the project's upcoming Open Mainnet launch, marking a milestone after six years of development.

Currently trading at $0.4570, Pi tokens show a 2.05% daily dip despite a 26.11% surge in trading volume to $81.57 million. The market faces potential headwinds from the scheduled unlock of 250 million PI tokens (worth ~$135M) between June 2024 and July 2025.

Exchange reserves hit a record 370 million tokens in July - a 40% increase since March - as the ecosystem expands to support 10,000+ applications. With 47 million mobile-first mining users, PI Network's valuation now carries institutional credibility.