Recently, the price of Pi Network has significantly dropped, hovering around 0.80 to 0.83 USD in late March 2025. This represents a decline of approximately 47% compared to two weeks prior. This situation has caused significant disappointment not only among enthusiastic Pi miners but also among potential investors who do not yet hold Pi. However, such price fluctuations are not uncommon in the cryptocurrency market. Especially for projects still in their developmental stages, this can be considered part of the growth process.
Pi Core Team’s Unique Development Approach
Users who have been involved since the early development of Pi Network are well aware of how the Pi Core Team operates. They maintain a style of quietly and steadily advancing development without flashy promotions or exaggerated promises.
Key aspects of the Pi Core Team’s distinctive approach include:
- Refraining from large-scale advertising and marketing activities
- Making official announcements only when significant milestones are achieved
- Not making specific promises about features under development or future plans
- Not relying on strategies to gain views or likes
This understated approach sometimes causes frustration and questions, especially for new community members or users expecting short-term results. Because the project’s direction and progress are not always clear, it’s understandable that doubts like “Is this project really moving forward?” may arise.
Current Status and Challenges of Pi Network
Pi Network completed its transition to the open network on February 20, 2025, beginning its journey from a closed ecosystem towards full decentralization. It already boasts over 19 million verified users (Pioneers), with over 10 million having migrated to the mainnet.
Regarding the clear development roadmap that many users are anticipating, the Pi Core Team has not yet provided detailed information. This is presumed to be due to considering the risks of promising specific dates in the highly uncertain blockchain industry.
“Although Pi Network has already completed the mainnet migration and the transition to an open network, the widespread adoption of practical applications and the resolution of legal challenges may still require time.”
This perspective considers not only the technical development period but also the time needed for the legal frameworks regarding digital currencies and virtual assets to be established in various countries around the world. Without clear legal regulations, it is difficult for even the most excellent cryptocurrency project to realize its true potential.
Pi Network’s Potential from a Long-Term Perspective
Instead of being swayed by short-term price fluctuations, it is important to evaluate Pi Network from a longer-term perspective. Established in 2019 by Stanford University graduates, the project aims to be a “more inclusive and accessible cryptocurrency.”
Key features of Pi Network include:
- Simple mining method using smartphones
- Low-power consumption consensus algorithm (Stellar Consensus Protocol)
- Verification mechanism based on mutual trust
- Design allowing participation even with limited technical knowledge
From the perspective of popularizing cryptocurrency, these features represent a highly significant approach. In particular, the fact that it does not require expensive mining equipment or specialized technical knowledge significantly lowers the barriers to entry that traditional cryptocurrencies faced.
Pi Network’s Development Phases and Future Outlook
Pi Network has gone through several important development phases to date:
- Beta Phase – Initial testing and community building
- Mainnet Migration – Transition to a live blockchain
- Open Network Construction – Completed on February 20, 2025, the stage where Pi can be freely exchanged
Pi Network has launched its mainnet and completed the transition to an open network, but concerns about its operational methods and centralized structure are growing.
Relationship between Legal Regulation and Adoption
The widespread adoption of cryptocurrency is impossible without the existence of a clear legal framework. Currently, many countries are in the process of exploring regulations concerning cryptocurrency and blockchain technology. As this process progresses and consistent legal regulations are established in each country, the path to practical use will open up for many cryptocurrency projects, including Pi Network.
In particular, the establishment of the following elements is important:
- Clarification of the legal status of cryptocurrency
- Standardization of exchange regulations
- Establishment of tax systems
- Framework for consumer protection
- Anti-money laundering measures
Attitude Required of Pi Holders
In this situation, it is important for Pi holders (miners) not to be swayed by short-term price fluctuations but to focus on the project’s long-term vision and potential.
Specifically:
- Patience and Long-Term Perspective: The development of emerging technologies takes time
- Continuous Learning: Deepen understanding of blockchain technology and the cryptocurrency market
- Contribution to the Community: Actively participate and support the growth of the ecosystem
- Diversified Portfolio: Diversify investments and manage risk
Awareness of Legal Risks
Pi Network faces legal risks. Particularly in regions with strict regulations such as China and the United States, its pyramid-like structure and referral system could lead to legal issues. In China, due to the ban on cryptocurrency trading, participants may face administrative penalties or criminal risks, and in the United States, the token distribution model may violate securities laws.
Investors should pay attention to the following points:
- Short-term observation: Invest funds and sensitive data cautiously
- Attention to compliance: Monitor whether Pi discloses compliance measures
- Diversification: Do not invest all resources in Pi; prioritize highly compliant assets
- Legal consultation: If planning an investment, it is recommended to consult a local lawyer to assess regional regulatory risks
Community Dissatisfaction and Challenges
Within the Pi Network community, much dissatisfaction is growing, including unverified balances, unpaid validator rewards, and the lack of a clear schedule for the second migration. After six years of development, many users feel betrayed by the core team’s silence and failure to fulfill promises.
Points of particular concern:
- Validators who assisted with the KYC verification process have not been paid rewards
- No clear solution has been provided regarding unverified balances
- Lack of clear communication from the core team
- Promised features and improvements have not been realized
Conclusion: The Future and Expectations for Pi Network
It is true that the price of Pi Network is currently low, but this does not negate the project’s long-term potential. Early Bitcoin and Ethereum also experienced various difficulties and price fluctuations before reaching their current valuations.
Discussion continues regarding the true value of Pi Network. On one hand, it aims for the mass adoption of decentralized digital currency, but on the other hand, concerns are raised about the centralized issue where the core team holds 82.8% of the supply, as well as legal concerns regarding its pyramid-like structure.
Ultimately, whether Pi Network succeeds depends on the progress of technical development, the establishment of legal regulations, and above all, the continued support of the community. Maintaining a long-term perspective and patiently observing is the wisest approach at this time.
What is your view on the future of Pi Network? Do you agree with the opinion that we should focus on long-term potential rather than short-term price fluctuations? Please share your thoughts.