Pi Network has just hit a new low.

(Dan Tri Newspaper) - According to data from CoinMarketCap, the price of Pi Network plummeted on the evening of October 17th to $0.19. This price drop also marked a new low for the cryptocurrency.

In the last 30 days, the price of Pi Network has dropped by 43.5%. Compared to its peak of nearly $3 at the end of February, the cryptocurrency has lost 92% of its value, or 13 times its initial value.

The price of Pi Network has been continuously falling since the beginning of the year, causing investor discouragement (Image: The Crypto Times).

One of the reasons for the sharp drop in Pi Network's price is believed to be the overall impact of the cryptocurrency market. Last week, Bitcoin saw a sharp price drop from $126,000 to below $104,000, triggering a decline in many other cryptocurrencies as well.

In recent weeks, the price of Pi Network has repeatedly hit new lows, reflecting the disappointment and loss of confidence among the market and investors in this project.

The co-founders of Pi Network have consistently appeared and shared their insights at major cryptocurrency events. Many new applications have been created to attract user interest in this ecosystem. However, contrary to investor expectations, the price of Pi Network continues its sharp decline.

Even during periods of strong cryptocurrency market growth, the price of Pi Network continued its downward trend. This led the cryptocurrency community to accuse the Pi Network project of a "rug pull."

To date, Pi Network is only listed on a few mid-sized exchanges. Binance, the world's largest cryptocurrency exchange, has completely left open the possibility of listing this project.

Meanwhile, Bybit, the second-largest exchange, also flatly rejected Pi Network. This demonstrates a lack of trust in the project from major exchanges.

To date, Pi Network is still only listed on a few mid-sized exchanges (Image: CoinGape).

The unusual way Pi Network operates also raises serious questions about the current supply and token allocation. The project claims to have 7.71 billion Pi in circulation.

However, how much of that is unlocked for the team and exchanges remains a big question mark. In addition, the project is constantly under selling pressure as a large amount of cryptocurrency is mined daily.

According to data from Piscan, 163 nodes of the Pi Network blockchain platform are located in Vietnam. This means that domestic users hold nearly half, or 49%, of Pi's validator nodes.

Source: https://dantri.com.vn/cong-nghe/pi-network-vua-co-day-moi-20251017230218563.htm