Pi Network just hit a new bottom

(Dan Tri) - According to data from CoinMarketCap, the price of Pi Network dropped sharply on the evening of October 17 to $0.19. The price drop also set a new bottom for this cryptocurrency.

In the last 30 days, Pi Network price has decreased by 43.5%. Compared to the peak of nearly 3 USD that Pi Network reached at the end of February, this digital currency has lost 92% of its value, divided by 13 times.

Pi Network price has been continuously decreasing since the beginning of the year, making investors frustrated (Photo: The Crypto Times).

One of the reasons for the sharp drop in Pi Network price is said to come from the general impact of the entire cryptocurrency market. Last week, Bitcoin witnessed a sharp drop from $126,000 to below $104,000, followed by a series of other digital currencies also falling.

In recent weeks, Pi Network price has continuously hit new lows, showing disappointment and loss of confidence of the market as well as investors in this project.

Pi Network co-founders continuously appear and share at major cryptocurrency events. Many new applications are created to attract users' attention to this ecosystem. However, contrary to investors' expectations, Pi Network price continues to decline sharply.

Even during periods of strong cryptocurrency market growth, Pi Network price continued to trend downward. That has led the cryptocurrency community to accuse the Pi Network project of “rug pulling”.

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

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

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

Pi Network's unusual way of operating also raises big questions about its current supply and token allocation. The project announced that there are 7.71 billion Pi in circulation.

However, how much of that is unlocked for the team and the exchange is still a big question mark. Besides, the project is always under pressure to sell off as a large amount of cryptocurrency is mined every day.

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