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Pi Network, once a well-loved crypto project among millennial investors, is in freefall. With the promise of user-friendly mobile crypto mining and a growing community of enthusiasts and supporters, the Pi Network quickly became one of the top projects in recent years. So it wasn’t surprising that its native token, PI, promptly raced to its all-time high of $2.99 when the developers launched the Pi mainnet.
However, after hitting a peak of $2,99, the token has crashed by nearly 50% over the past two weeks. The Pi coin trades between $0.80 and $0.83, with bearish market signals moving forward.
Pi Coin Holders Looking For Answers
The Pi Network launched its Open Mainnet on February 20th to much fanfare and anticipation. Supporters and crypto miners on social media heavily advertised the project’s official launch, marking its move from a closed ecosystem to complete decentralization. The token’s price immediately fluctuated, briefly surging to $1.96 before dropping to $0.74 and settling to $1.29.
Almost 10M $PI coins will be unlocked today until tomorrow. That’s why price is 📉. At least the @PiCoreTeam is not making rollbacks. On March 29 things will get better. #PiNetwork pic.twitter.com/MijB0zFpMF
— Pi Open Mainnet (@piopennetwork) March 26, 2025
However, the first 30 days of Pi Network were filled with plenty of challenges and issues. For example, the Pi Network community faced issues with Binance, including its recent rejection of its possible listing. There was also a loss of confidence in the project, pushing a bearish sentiment on the token. More than 10 million Pi coins were added to circulation, pushing the price 12% down.
Pi Network Devs Promise Things ‘Will Be Better’ Soon
In a Twitter/X post, the Pi Network announced adding 10 million new tokens to circulation. While this news immediately pushed the price down, the dev team assured holders and investors that things would improve soon.
Pi Network’s recent unlock schedule was transparent and immediately shared with the investing public. The devs also said they’re adding 102 million PI tokens to the current circulation next month. Although the developers have been transparent with these efforts, many holders, particularly the pioneers, have blasted the move.
The Road Ahead For Pi Network
In recent days, the Pi Network has been caught in heated discussions about the unclear rules for establishing the Pi Network Super Node. Many pioneers and crypto analysts are questioning the team and asking if it’s a transparent and decentralized project. Making matters worse is the recent data from PiScan showing that the Pi Network’s team keeps nearly 83 billion coins out of the total 100 billion in circulation.
Debates and questions intensified after Pi Network members didn’t receive complete answers and guidance on how they serve as SuperNode validations. Still, the project’s developer team remains bullish, and it aims to launch its new domain auction. According to recent data, the bidding attracted 200k bids in less than a week.
Featured image from MakeUseOf, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
