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CATEGORY: pi coin


May 21, 2025 04:10

Pi Network Plunges 30% as Negative Bitcoin Correlation Signals Further Decline

Pi Network has faced a steep 30% decline over the past week, bringing its price to $0.74 and marking a troubling period for the altcoin. This sharp downturn has made it increasingly difficult for Pi Network to recover from losses sustained in March, with technical and correlation data suggesting further

May 19, 2025 02:30

Pi Token Price Crashes After Core Team Moves 12 Million Coins

Pi Token users have accused the project creators of a rug pull following a steep decline in its token price. Dr Picoin, a well-known Pi Community member, alleged on X that the insider dumping of millions of Pi tokens coincided with recent announcements made at Consensus 2025, sparking outrage. According to Dr Picoin, insiders exploited […]

May 13, 2025 02:30

Pi Coin Price Surges and Breaks Above $1 After 35% Daily Rise

Pi has finally risen past the $1 mark for the first time in nearly two months. In the last few days, the price of Pi has significantly increased, with the price reaching a 68.12% increase. Within a few days, the price moved up from about $0.59 to nearly $0.99, and today it has broken past […]

Pi Network Price Pumped 45%, Now Facing Pullback: Is Bullish Momentum Over?

Author: Paul Adedoyin
Estonia
Apr 07, 2025 02:35

Pi Network Price Pumped 45%, Now Facing Pullback: Is Bullish Momentum Over?

Pi Network price surged 45% to $0.75 on April 5, fueled by bullish technical indicators and high trading volume.

Apr 06, 2025 04:15

Pi Network Faces Continued Criticism as PI Records a Sharp Plunge

Pi Network is slowly turning into a controversial topic in the crypto industry. The reputation it has built over the past few years is at stake due to its network delays. Major crypto exchanges distanced themselves from listing Pi coins as the project is lacking transparency and has network issues.

Apr 21, 2025 04:15

Pi Network Founder to Attend Consensus 2025, Will Pi Coin (PI) Revive?

The spark of Pi Network is gradually diminishing, which is reflected directly in its market prices. With the teams lack of attention towards community concerns, the Pi network is facing criticism from the crypto community. On top of that, large volumes of token unlocks are causing further price declines.  Pi

Apr 21, 2025 02:35

Pi Network price analysis: can $0.6477 breakout trigger the next bull run?

The Pi Network (PI) is trading at $0.6305, down 2.21% in the last 24 hours. It lost 15.01% of its value last week, indicating overall market pressure. Its 24-hour trading volume has fallen by 39.63% to stand at $92.82 million, indicating declining short-term interest. The technical indicators present a mixed outlook. An RSI of 61.28 […]

Apr 19, 2025 02:30

Pi coins path to $2.09: What drives its bullish outlook for 2025?

Pi Network is making headlines once again within the crypto market as its native token, Pi Coin, indicates new momentum. The coin is currently trading at $0.6136 and is up by 0.52% within the last 24 hours. Although the volume of trading is down to $118.79 million (down by 28.68%), the token is up by […]

Apr 15, 2025 02:30

Pi Price Increase by 35% After Partnering with Chainlink, Stirring Prediction of $3 Target

Pi Network has started gaining attention again after a surge of about 35% in just seven days, following its recent partnership with Chainlink. Analysts believe the Pi price could reach $3. Currently, as of the time of writing, the Pi price is at $0.74 and has already jumped 35% in the past week. The recent […]

Apr 13, 2025 04:10

Pi Network (PI) Soars 20% as Bullish Indicators Signal Breakout Above $0.75

Pi Network (PI) recorded a sharp 20.20% daily gain, rising to $0.7265. The market cap climbed 20.50%, reaching $4.98 billion, as daily trading volume soared 212.80% to $497.1 million.  The market cap ratio, now at 9.9%, confirms aggressive interest from traders. Despite a capped supply of 100 billion PI, only

Mar 09, 2025 04:10

Whats Ahead for Pi Coin Amidst Deep Market Fluctuations?

Pi network has steadily acquired users with its simple-to-mine interface through its mobile application. After hitting an all-time high value of $2.99, the Pi coin has been trading sideways for the past few days. Under the current market conditions, it is facing extreme price fluctuations. The Pi community has started

Pi Coin Sinks 47% In 14 DaysWhats Behind The Massive Drop?

Author: Christian Encila
United Kingdom
Mar 29, 2025 12:05

Pi Coin Sinks 47% In 14 DaysWhats Behind The Massive Drop?

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 wasnt surprising that its native token, PI, promptly raced to its all-time high of $2.99 when the developers launched the Pi mainnet.  Related Reading: Dogecoin Set For 10x Surge? Elon Musks Anime X Post Sparks Hype 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 tokens 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 Networks recent unlock schedule was transparent and immediately shared with the investing public. The devs also said theyre 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 its a transparent and decentralized project. Making matters worse is the recent data from PiScan showing that the Pi Networks team keeps nearly 83 billion coins out of the total 100 billion in circulation. Related Reading: XRP Price Imminent Breakout: $5.30 On The Cards, Analyst Says Debates and questions intensified after Pi Network members didnt receive complete answers and guidance on how they serve as SuperNode validations. Still, the projects 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

Mar 21, 2025 04:10

When Will Binance List Pi Coin? Community Reacts Over Binance Disregard

The million-dollar question among the crypto community these days is, When will Binance list Pi coin? With its simple smartphone mining application, the Pi network garnered a loyal community of traders over the last 6 years. The much-awaited Pi network mainnet finally launched this year on Feb 20 and Pi

Mar 12, 2025 04:15

How to Sell Pi Coins in 2025? A Comprehensive Guide

Its one thing to invest in a cryptocurrency and wait for its price to surge. This is a general case with any kind of financial investment. However, when it comes to the Pi coin, users have been mining these tokens for over the last 6 years, waiting for its mainnet

Jul 26, 2023 01:50

PEPI Coin Jumps 300% In A Week. Can It Break Records?

PEPI coin ($PEPI) is trending on Dextools as the third-best crypto gainer after recording a 108% increase in price over the past 24hrs and 300% [...]

Mar 01, 2025 02:30

Pi Coins Potential Binance Listing Gains Traction as 86% of Participants Show Support

Binance recently held a community vote on adding Pi Coin (PI) to its platform. The results showed that 86% of users supported the listing.  This is a major step toward making Pi Networks digital currency available for trading on Binance. Despite challenges in the crypto market, Pi Coin is gaining attention. Many supporters believe that […]

Feb 24, 2025 04:20

What Caused Pi Networks PI coin value to Jump 65% in 24 Hours?

Established by Stanford Ph.Ds. Nicolas Kokkalis and Chengdiao Fan in 2019, the Pi Network has amassed more than 60 million users. Its native token, PI, As Pi coin value is currently listed on major exchanges such as OKX, Bitget, Bitrue, HTX, and BitMart. As a way to encourage participation, Bitget

The Pi Token Scam  The Least-Evil Scam in Crypto, But a Scam Nonetheless...

Author: noreply@blogger.com (Silicon Valley Newsroom)
United States
Oct 04, 2024 04:15

The Pi Token Scam The Least-Evil Scam in Crypto, But a Scam Nonetheless...



At first glance, the Pi Network seemed promising a new token backed by Stanford-educated developers, claiming technical superiority and offering free mining through a mobile app. The excitement was palpable, and since its 2019 launch, tens of millions have downloaded the app, accumulating free Pi tokens by simply pressing a button daily.

Now, almost six years after launch, users continue to earn Pi tokens the same way. But there's a glaring problemthose coins arent tradeable, and no exchange supports them. Despite the hype, the only recent development is that Pi now has an actual token on a blockchain, though it remains non-tradeable. Oddly, this blockchain technology has existed for years - raising the question: why the delay?

Years Waiting for What?

As Pi Network prepares for its much-anticipated mainnet launch, supposedly scheduled for December, more details have surfaced. It turns out that Pi will be using the Stellar Consensus Protocol (SCP), a well-established blockchain technology created by the Stellar network.

While most users dont understand the implications, its a significant revelation. Rather than developing their own proprietary technology, Pi is simply leveraging open-source code from the Stellar blockchain, which launched in 2014, five years before Pi.

This isnt inherently wrong - Stellar is a legitimate blockchain and there's a lot of upsides to using their technology - but the issue lies in Pis portrayal of their work. Theyve led users to believe they were busy developing something new and revolutionary.

Basically - Pi users have waited 5 years for them to launch using someone else's 10 year old technology.

No, You Didn't Mine Anything...

While Pi Network calls it mobile mining, the fine print will tell you this has always been and always will be a 'simulation' - in other words, you're playing a video game.

There is a way to really mine Pi tokens now, but it requires running their node software - and of course, you'll need a real computer if you want to run it.

If millions of phones were actively validating transactions (mining), this wouldn't be necessary.

Not Adding Up...

Pi Network claims a user base of over 60 million worldwide, but this doesnt align with the reality of only 6 million active wallets. Even more striking is that only 0.16% of these wallets show any activitya level of engagement that's unusually low for a supposedly active blockchain.

If the "60 million" figure is accurate, it likely refers to total signups over time rather than active users. This number may include accounts created years ago, opened once, and subsequently abandoned, leading to inflated statistics that dont reflect the current state of user engagement.

Pis Future Value...

Pi fans searching for the token on CoinMarketCap often share their excitement to find a coin labeled Pi priced at $34.45. However, this is misleading. The listed coin appears to be a scam, a completely unrelated token using the Pi name and logo. The official Pi team has made it clear, their tokens cannot currently be transferred, and they have no listing on any exchange - so ignore this.

With no trading happening, all users can do is speculate, and the Pi Subreddit is full of this. Pi supporters engage in wildly optimistic price predictions. Most estimates fall somewhere in the range of $10 to $100, which is already insane.  Then there's the extremes, speculating as high as $1,000 per token guided by flawed reasoning like "if Pi becomes half as popular as Bitcoin...." These are guesses out of thin air, based on nothing. 

Pi should be looked at like any other coin that gave away large portion of it's supply to anyone willing to press a button, aka 'Tap To Earn'. If you look at what happens when these coins start to be traded, we see a huge number of holders simply unloading their supply as soon as possible, and the value immediately crashing.   Here's what happened with two recent launches of tap-to-earn tokens:

PIXELVERSE Token Chart
HMSTR Token Chart


Then, there's still so many free coins still in circulation, any time the coin begins to gain value, there's a long line of people still waiting to dump theirs, keeping the price down forever.

But really, just use your head. Ask yourself, if millions of people just got something for free, now they're saying you should want this thing too, except you will have to pay them real money for it - would you? There's nothing to motivate people who didn't get free coins, to spend their money to buy them from you.

So, What Are the Pi Owners Up to? 

While they haven't sold any Pi tokens, they may have found creative ways to monetize people wanting free ones.

With millions of people reportedly opening the Pi app each week to mine tokens by pressing a button, theyre also being served ads. This monetization model could be quite lucrative for Pi Network, especially if users are unaware they can disable the ads. On mobile apps, ad revenue can quickly add up when multiplied by millions of daily users.

But advertising may only scratch the surface of the Pi Networks potential revenue streams. Theres a bigger concern: user data, which brings me to my next point...

Privacy Concerns...

When users sign up for Pi, they are agreeing to share a broad range of personal data. Pi Network collects browsing history, chat messages, comments, likes, location data (including GPS and Wi-Fi information), contact lists, device details, and more. This data can be shared with third parties, affiliates, professional advisors, service providers, and even governments.

With the introduction of Pis Know Your Customer (KYC) process, users are now required to submit government-issued IDs and selfies to verify their identity. This level of data collection makes Pis user database a goldmine for data brokers and facial recognition services.

Plus, KYC isnt a legal requirement for projects that arent selling tokens via pre-sales, making Pi's decision to implement it a bit more questionable.

From a legal standpoint, it is no different from points earned in a video game no one has traded them or purchased them, they have no known value - it's a strange situation to be requiring full ID verification for. 

The Bright Side?

To be fair - I can confidently give Pi Network the title of 'The Least-Evil Scam in Crypto". In fact, I don't think they've even broken any laws.

Unlike others, Pi Network has not asked users to invest any real money. While they may be exploiting anticipation for free crypto, collecting valuable data, and serving ads - they havent deceived people into losing funds.

Ultimately, while users may waste time pressing buttons, at least they havent been tricked into handing over their hard-earned money (which also wastes the time spent earning it). 

While there are some privacy concerns, this unfortunately is so common, in most cases Pi is probably just one of several apps on users phones with privacy policies asking for way too much.

In my research for this story there was fairly large amount of people who have been pressing that button daily for years, accumulating thousands of free Pi tokens, and excited for the official launch where they can sell them for $50 each.  So, the disappointment some will be feeling once the coins become tradeable seems to be the only real consequence.  

What's Next?Pi claims this will happen in December, but if I'm correct on how they're currently profiting, the day the coins become tradeable, and worthless, is the day people stop opening up the app to 'mine' them. This means no more ad money for the Pi guys.

If I had to bet on what will happen this December,  I would say that Pi fans will be getting an excuse for them having to delay the launch.

We'll see soon enough. Who knows, maybe I'll be eating words as thousands of new millionaires who earned their fortune pretend-mining Pi coins mock me for being so wrong.

---------------
Author: Ross Davis
Silicon Valley Newsroom
GCP Breaking Crypto News

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