Pi Network's growth was driven by optimism in the cryptocurrency market in general following the US Federal Reserve's decision to keep interest rates unchanged.
The PiCoreTeam announced that the Pi Network project will have an important announcement on May 14th (Photo: PiCoreTeam).
In addition, in a recent social media post, the PiCoreTeam announced that they will be launching the Pi ecosystem on May 14th. This is also considered positive news that will attract users and boost the price of Pi Network.
The BeInCrypto website assesses that the Pi Network project is gradually losing interest from investors. Market apathy has caused the Pi Network project to lose its appeal and lack growth momentum over the past few months.
Despite a significant increase from its low of $0.45 in early April, the current price of Pi Network is still five times lower than the peak of $3 that the cryptocurrency reached on February 27th.
According to experts, there are several reasons why the price of Pi Network has shown almost no recovery in recent months. One of the main factors stems from the intrinsic value of the Pi coin.
Pi is considered to have no specific applications and no infrastructure. The Pi Network team only advertises Pi as a means of payment. This means the project doesn't create much value and functions like many other meme coins on the market.
Authorities advise people to be cautious and thoroughly research information before investing in Pi cryptocurrency (Photo: The Anh).
Previously, 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.
Therefore, incidents, issues, and disputes arising from Pi cryptocurrency transactions are very risky and difficult to protect or resolve under the law. Furthermore, according to the State Bank of Vietnam's regulations, virtual currency is not considered a means of payment.
Therefore, any individual or organization using virtual currency in general, and Pi in particular, for payment activities will be subject to penalties or may face criminal prosecution.
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/gia-pi-network-bat-ngo-dung-cot-20250508222845557.htm
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