Pi Network’s launch in February 2025 was a big deal, sending the price soaring to $2.98. But the party didn’t last. Three months later, the price has plummeted over 75% from its all-time high. Let’s dive into why.
Post-Launch Problems
The initial excitement quickly faded as several issues surfaced:
- KYC Woes: Many users couldn’t claim their coins due to Know Your Customer (KYC) verification problems.
- Missing Major Exchanges: Despite a market cap exceeding $5 billion and a top 30 ranking, Pi Network isn’t listed on major exchanges like Binance or Coinbase. This lack of listing has fueled speculation about the project’s transparency. Some believe the team hasn’t been open enough with information.
- No DeFi Activity: The absence of decentralized finance (DeFi) apps on the network means the Pi Network price is entirely at the mercy of the broader crypto market. There’s no internal activity driving demand.
- Missing Venture Fund Updates: The promised $100 million Pi Network Ventures fund, designed to support startups, hasn’t shown any significant progress, leaving the community wanting more information.
Price Plunge and Community Concerns
The price has been a rollercoaster. A brief surge above $1.2 was quickly followed by a crash back below $1. This instability reflects a lack of strong support, with community members questioning the project’s future and whether the team will deliver on its promises.
The long-term outlook depends heavily on whether the Pi Network team can address these issues and build the promised features. If they can, a price reversal and new highs are possible. But for now, the situation remains uncertain.
