In early May, Pi Network coin was traded around 0.6-0.7 USD.
By May 12, this digital currency suddenly increased sharply to 1.6 USD. This growth happened after the PiCoreTeam revealed updates to the Pi Network ecosystem.
Pi Network price fluctuated strongly in the past week (Screenshot).
However, the price of Pi Network has continuously decreased after that period. As of the morning of May 15, Pi Network was only trading around 0.88 USD, losing nearly 50% of its value after 3 days.
According to Crypto News , one of the main reasons for the sharp drop in Pi Network price comes from the community's disappointment with the information announced by the PiCoreTeam.
"The Pi Network Ventures investment fund is officially launched with a value of 100 million USD, including Pi and USD. This fund will be used to invest in startups and businesses that promote the utility and adoption of Pi in the real world ," the PiCoreTeam team announced on social network X.
Experts say that the announcement from the PiCoreTeam team did not meet the expectations of the Pi Network community. Most users are waiting for Pi Network to be listed on major exchanges such as Coinbase, Binance or HTX. That could have a positive impact on the value of Pi.
Another group of users is expecting the project team to announce a “burn” of Pi Network’s supply. “Burning” tokens will reduce supply, thereby creating scarcity and increasing the value of the project.
However, the information that the PiCoreTeam team provided was completely unrelated to what the community was waiting for. This factor disappointed many people, causing mixed reactions and affecting the price of Pi Network.
The Pi Network community expressed disappointment after the information released by the PiCoreTeam (Photo: CoinGape).
Previously, Hanoi City Police issued a warning to people about investing in Pi Network cryptocurrency. Authorities said that according to Vietnamese law, virtual currencies in general and Pi coins in particular are not considered assets.
Therefore, incidents, problems, and disputes related to Pi coin transactions are very risky and difficult to be protected and handled by law. At the same time, according to the State Bank's regulations, virtual currency is not a means of payment.
Therefore, any individual or organization that uses virtual currency in general and Pi coin in particular for payment activities will be punished or may be prosecuted.
According to Hanoi City Police, Pi has no practical application. Its current value is self-determined and many people are confused about the true value of this virtual currency.
Source: https://dantri.com.vn/cong-nghe/gia-pi-network-giam-manh-sau-thong-tin-dang-that-vong-20250515221358661.htm
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