Pi Network price still probes bottom despite Bitcoin's high increase

(Dan Tri) - According to data from CoinMarketCap, Pi Network coin was trading at $0.45 on the evening of July 23.

In the context of the cryptocurrency market witnessing a strong boom with Bitcoin reaching a historical peak and a series of altcoins growing rapidly, Pi Network is going against the trend as its value continues to decline, 85% lower than the peak of 3 USD reached at the end of February.

Pi Network price does not follow the general growth of the cryptocurrency market (Photo: The Anh).

While Bitcoin surpassed the $120,000 mark and major cryptocurrencies such as Solana, BNB, XRP, JUP... all increased strongly, even reaching new peaks, Pi Network continuously probed the bottom.

Technical analysis shows that the cryptocurrency does not follow the movements of Bitcoin or other major altcoins, raising many questions about the project's independence and resilience.

According to the announcement from the project team, there are currently more than 7.7 billion Pi Network tokens circulating on the market. However, the amount of tokens held by the project team and exchanges remains unknown, raising concerns about the possibility of price manipulation.

Pi Network is currently listed on only a few mid-sized exchanges. Binance, the world's largest cryptocurrency exchange, has left the possibility of listing the project open, while Bybit, the second largest exchange, has flatly refused. This shows the lack of trust from major exchanges in Pi Network.

Although the Pi Core Team has been constantly updating the project's activities on social network X, including the announcement of the $100 million Pi Network Ventures investment fund to support startups building applications on the Pi platform, and most recently Pi App Studio - an AI-powered application development platform, these efforts seem not to be enough to restore the community's confidence.

The Pi Network community is becoming increasingly frustrated as Pi price continues to bottom out (Photo: CoinGape).

The Pi Network community has become increasingly frustrated as Pi price continues to bottom out. Many experts have expressed skepticism about the project's operations and sustainability.

According to data from PiScan , the Pi Network project will unlock more than 175 million tokens to the exchange in the next 30 days, with nearly 10.8 million Pi Network coins to be listed on the exchange on July 28.

This continuously increasing supply creates strong selling pressure, and when buying demand is not enough to absorb the new supply, Pi Network price may continue to fall sharply, explaining the "submerged" state of this currency in recent times.

Source: https://dantri.com.vn/cong-nghe/gia-pi-network-van-do-day-du-bitcoin-tang-cao-20250723230652145.htm