Pi Network Invests $20 Million in AI Robotics Startup OpenMind
Pi Network has participated in a $20 million funding round for OpenMind, an AI robotics startup. This investment includes backing from Coinbase Ventures, Pantera Capital, Ribbit Capital, and Sequoia China.
This is Pi Network’s first major action since launching its $100 million venture capital initiative aimed at projects with real-world utility. The partnership aligns with Pi's goal to be influential in AI-driven automation and decentralized machine intelligence.
Concerns have arisen within the Pi community regarding this move, with some members arguing that resources should focus on network development instead.
In response to user security concerns, Pi Network has upgraded its wallet system, introducing a Passkey feature for one-tap authentication.
Additionally, Pi Network has rolled out new updates, including a Binance-related feature, leading to speculation about a potential Binance listing later this year. Currently, PI's token trades around $0.3537, down over 20% in the past month, losing more than $1 billion in market capitalization.
The RSI indicates that PI may be approaching oversold conditions. A breakout above $0.38 could signal a rebound above $0.4. Bollinger Bands suggest volatility, while the MACD shows a potential bullish crossover, indicating possible upward momentum. Key support levels are identified at $0.340 and $0.325.