Since its listing in late February, the project has been on a steady decline despite the recovery of the cryptocurrency market. The Pi Network price is now seven times lower than the $3 peak it reached.
This has significantly affected investors' confidence in the project.
Pi Network price has been continuously decreasing over the past month and has reached an all-time low (Screenshot).
According to data from PiScan , the Pi Network project will unlock 247 million tokens on the exchange in the next 30 days. Notably, nearly 16.4 million Pi Network coins will be listed on the exchange on July 10.
The continuously increasing supply can create strong selling pressure. In case the buying demand is not enough to absorb the new supply, the price of Pi Network may continue to fall sharply. This is also one of the reasons why the price of Pi Network has been "sinking" in the past time.
In recent months, the Pi Core Team has been continuously updating the project's activities on social network X. One of the strong moves is the announcement of the $100 million Pi Network Ventures investment fund, to support startups building applications on the Pi platform.
Or most recently, the project continued to announce Pi App Studio. This is an application development platform powered by artificial intelligence (AI), which is expected to promote the development of the Pi ecosystem.
Despite the efforts of the project, the Pi Network community has become increasingly frustrated as the Pi price continues to bottom out. Many experts have even expressed skepticism about the project's operations and sustainability.
Cem Dilmegani, an analyst at AIMultiple, said the Pi Network project works like an “affiliate marketing” system. Users are enticed by the promise of future rewards to invite new people.
The Pi Network community is becoming increasingly frustrated as Pi price continues to probe the bottom (Photo: CoinGape).
Ultimately, the main beneficiaries are not the users who join the network, but the founding team, who can sell ads on a highly trafficked app. He also believes that when tokens are sold off, users will lose the incentive to log in, thereby reducing the value of the app for advertisers.
In March, Hanoi 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.
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/ap-luc-khien-gia-pi-network-lien-tuc-do-day-20250709004239149.htm
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