Recently, the price of Pi Network (PI) tokens has been hovering at a low point, sparking widespread attention and concern within the community. In the face of market fluctuations, Dr. Nicolas Kokkalis, co-founder of Pi Network, stepped forward to provide an in-depth interpretation of the current market situation and reaffirm the project's long-term development vision. His insights not only clarified the reasons behind the current slump in PI coin prices but also painted a clear blueprint for the future direction of Pi Network.
Dr. Kokkalis pointed out that the current price drop of PI coin is not an isolated event but a reflection of the general pullback in the global cryptocurrency market. He emphasized that this decline "not only affects PI coin but also impacts all mainstream cryptocurrencies." He specifically mentioned that major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have all experienced significant declines recently, and this pervasive market sentiment inevitably affects all projects, including Pi Network. This indicates that the price fluctuations of PI coin are closely related to the macro cryptocurrency market environment rather than fundamental issues within the project itself.
Despite facing market pressure, Dr. Kokkalis still emphasized the uniqueness and intrinsic value of Pi Network:
Closed Mainnet Status: Pi Network is currently still in a closed mainnet phase, which means its full potential and liquidity have not yet been fully released in the public market. This "ready-to-launch" state suggests that once the mainnet is opened and unlocked, its market value will be more accurately reflected.
Utility-Based Growth: Despite price fluctuations, real, utility-based growth is actively occurring within the Pi Network ecosystem. This indicates that the project is not an empty concept but has practical application scenarios and user participation.
Strong User Base: Pi Network has over 50 million loyal users, and this large community is the most solid foundation for its future development. The continuous growth in user numbers provides a steady driving force for the prosperity of the ecosystem.
Ecosystem Development: Real applications are continuously being built on the Pi Network ecosystem, which will further enrich network functionality, enhance user experience, and endow PI coin with more practical value.
Pi Network will celebrate its annual Pi2Day event on June 28, 2025. This date (6.28) is symbolic as it is twice the value of Pi Day (3.14) and is seen as an important evaluation point for network development. This year's Pi2Day event is particularly noteworthy as it will focus on launching the "Know Your Customer (KYC)" synchronization feature. This update will connect the Pi browser with the Pi main application, allowing users to synchronize their verification data. Millions of users who were previously in pending or provisional status in the KYC process now have the opportunity to complete the migration to the open mainnet. This key development is expected to trigger a surge in mainnet activity after Pi2Day, accelerating user migration to the mainnet and enhancing the network's decentralization and transaction capabilities.
Dr. Kokkalis firmly stated that the current situation is "only temporary, not a collapse." He reiterated that once the open mainnet is unlocked and PI coin is listed on major exchanges, its "true market value will be discovered." He urged the community to remain resilient, as "the accumulation phase is never a victory."
After Pi2Day, the community's focus will shift to how many users successfully complete the KYC process and migrate to the mainnet. Additionally, developers within the ecosystem may begin to launch new dApps or integrations. Despite rampant rumors about the imminent listing of Pi tokens on mainstream exchanges like Binance, the core team will cautiously advance the listing process while ensuring the integrity of the network. Signs of real-world usage and the launch of new applications will help change perceptions of Pi Network from speculative mining to concrete usage.
Pi Network is at a critical transformation period. Although short-term price fluctuations have raised concerns, Dr. Nicolas Kokkalis's explanations have instilled confidence in the community. He highlighted the impact of the global market pullback and reaffirmed Pi Network's unique advantages in closed mainnet status, user base, and ecosystem development. The upcoming Pi2Day event, especially the launch of the KYC synchronization feature, will be a key step in propelling Pi Network towards an open mainnet. As more users complete KYC and migrate to the mainnet, along with the continuous enrichment of ecosystem applications, the long-term potential of Pi Network will gradually emerge, and its true market value will be discovered.
Related: PI coin continues to languish! Pi Network domain auction sparks heated discussion; CEX reserves increase signal market turbulence.
Original: “Pi Network Price Drops? Founder Dr. Nicolas Kokkalis Offers In-Depth Analysis and Future Outlook”
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