PI coin crashed almost 80% – Is the PI network that collapses under your weight?

Can Pi Network Recover Users Trust as Pi Coin Fast Fast 78% Only a few weeks after launch, with more token unlocking and disposal on the horizon?

From the top 10 to rollover

In February, PI Network (Write) Breaking up on the scene with a type of hype, the krypto-curingity is just dreaming. The long-awaited launch of Pi Network Pi finally happened, and the token drove high, reached the $ 2.98 tall 26. February.

In short, it even drew the list of the top 10 cryptocurries in the market, rubbing shoulders with giants in the industry. However, fast forward to 2. April, and the image looks far less glamorous.

From this writing, the PI coin is traded only to $ 0.66, a steep 78% drop from its peak more than a month ago. The collision deleted about $ 14.5 billion of market value, pulling its capitalization with nearly 20 billion dollars at just $ 4.56 billion.

The image is even tearing when we reduce. Over 124 million pi tokens were set unlocked This month I, according to the script. And this is just the beginning.

The monthly unlock will be climbed in July, peak to 233 million. In total, more than 1.53 billion new tokens will hit the market during the coming year, pushing the overall circulating offer to 8.2 billion.

It is a massive leap for a network that already sits to 6.7 billion offers and aims to a maximum cap of 100 billion. In this tempo, PI quickly earns a reputation as one of the most inflationary digital property there.

Meanwhile, the support of exchange remains uneven. The OCCS was the first main platform for the PI list, and then Bitget, Gate.IO and MEKC, with the gate. It currently leads to trading volume.

But token has not yet reached most of the exchanges. StageKOINBASE, Kraken and Bibit are all the others. In fact, Cabit’s General Manager left how much is call Pi a “fraud”, the label of her developers strongly deny.

So what really happens behind the Pi Network scene? And with multiple tokens placed to flood the market, what can investors expect in the coming weeks and months? Let’s break it.

Heads, further and the areas

Behind the steep drop-down duck Pi Coin is on internal friction – questions that have less to do with market feel and more to do with operational failures and silence from people who manage the ship.

One of the largest frustrations is a unique damping point: KIC. Know your customer’s confirmation, the standard process used to confirm the user’s identity, has become a nightmare for VAST Customer Base PI Network.

This step is mandatory. Without him, users cannot transfer their mined Pi Tokens on Mainnet, which does not mean that there are no transactions, without withdrawal and essentially there is no access to the values ​​in which they believe they are trusted.

Reports show that despite the launch of open network 20. February, and extended KIC and migration grace period to Mar. 14, Pi Core Tim struggled to process a backlog for its estimated 60 million-plus users.

The third party switching switch ITIs should improve scalability, but technical omissions, such as search statuses, such as search statuses, have left many users in LIMBO.

Some estimates suggest that only about 14 million users have successfully migrated, emphasizing a serious issue of capacity.

Social media platforms, especially X, are filled with first hand in the accounts of PI users facing these broken experience.

One user shared that her Pi Coins initially are marked as migrated, and then unexpectedly returned without any explanation, leaving it stuck in the reconfirmation and waiting loops.

The second reported that he lost 1,427 pi tokens simply because his migration has not finished before the Grace Period, despite it was OK all the time.

Stories like these encouraged anger and anxiety, especially among those who spent years the mining of tokens with the latest approach. What intensifies the background is silence. Pi Core Tim, which is often called PCT, kept their maps too close to your chest.

There was a small transparency on the main aspects of the road map. Users do not have clear corrections on validatory incentives, the state of development of Dappa or even what happened to the revenues from PI’s Domain Auction.

The truth is perhaps far less dramatic, but the absence of consistent communication allows speculations to dominate the narrative. User mild put That, “Arrival at new heights from here may really be difficult.”

The activity tells a different story

The last attempt of PI networks to show in the real world through PIFEST, a global initiative, which is aimed at conducting practical settings, whether PI can be used in practical settings, whether for groceries, clothing, car repairs can be used in practical settings.

On paper, the numbered numbers looked impressive. More than 125,000 registered traders, including 58,000 active sellers, and about 1.8 million pioneers participated. But behind the scale, the actual network activity said a different story.

The chain data indicate that the volume of payment showed a little change during the event. As one user noted on X, “the number of payments during the current #pifest did not increase significantly,” suggesting that many users hesitated to carry out their tokens or prefer to keep them insecurities remains uncertainty.