Since its listing in late February, the project has continuously declined in price despite the cryptocurrency market's recovery. The current price of Pi Network is more than seven times lower than its peak of $3.
This has significantly impacted investors' confidence in the project.
The price of Pi Network has been continuously falling over the past month and has reached its lowest point in history (Screenshot).
According to data from PiScan , the Pi Network project will unlock 247 million tokens on exchanges in the next 30 days. Notably, nearly 16.4 million Pi Network tokens will be listed on exchanges on July 10th.
The continuously increasing supply could create strong selling pressure. If demand is insufficient to absorb this new supply, the price of Pi Network could continue to fall sharply. This is also one of the reasons why the price of Pi Network has remained stagnant recently.
In recent months, the Pi Core Team has been continuously updating the project's activities on social media platform X. One of the most significant moves was the announcement of the $100 million Pi Network Ventures investment fund, aimed at supporting startups building applications on the Pi platform.
Most recently, the project announced Pi App Studio. This is an AI-powered application development platform that is expected to boost the growth of the Pi ecosystem.
Despite the project's efforts, the Pi Network community is becoming increasingly disillusioned as the price of Pi continues to hit rock bottom. Many experts have even expressed skepticism about the project's operation and sustainability.
Cem Dilmegani, an analyst at AIMultiple, believes the Pi Network project operates as an "affiliate marketing" system. Users are lured by promises of future rewards to encourage them to invite new people.
The Pi Network community is becoming increasingly disheartened as the price of Pi continues to hit rock bottom (Image: CoinGape).
Ultimately, the main beneficiaries are not the users participating in the network, but the founding team, as they can sell advertising on an app with massive traffic. This person also argued that when tokens are sold off, users will lose the incentive to log in, thereby reducing the app's value to advertisers.
In March, the Hanoi City Police issued a warning to the public about investing in the Pi Network cryptocurrency. Authorities stated that, according to Vietnamese law, virtual currencies in general, and Pi in particular, are not yet considered assets.
According to the Hanoi City Police, the Pi cryptocurrency has no practical applications. Its current value is self-determined and has led many people to misunderstand the true value of this virtual currency.
Source: https://dantri.com.vn/cong-nghe/ap-luc-khien-gia-pi-network-lien-tuc-do-day-20250709004239149.htm
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