Many Pioneers may be feeling anxious looking at the recent Pi Coin price chart and its sharp decline. Having recorded a drop of approximately 80% from its peak, there is widespread unease within the community. However, this may not be just an end, but a new beginning, or an opportunity to understand the true essence of the Pi Network. This article delves into the current situation and considers the true value that the Pi Network aims for.
The Core Team’s Stance During Difficult Times
The Pi Network is currently facing a challenging period. The price has fallen significantly, and many critical opinions are being heard. Many Pioneers may be disheartened. However, it is precisely in such situations that the true nature of the project becomes visible.
Dr. Nicolas Kokkalis, one of the co-founders of the Pi Network, emphasizes the importance of a team that continues to move forward even in difficult circumstances. What is important is not a team that only operates when things are going smoothly, but one that supports building without giving up even in adversity. And the Pi Core Team is doing just that right now, continuing development and moving the project forward amidst the turmoil.
The current price is hovering around $0.6, and there are voices lamenting, “Is this the result of 6 years of mining?” and views that Pi has failed. However, this may be a misunderstanding stemming from not fully comprehending what the Pi Network aims for, especially the true value of Pi Coin.
Misunderstanding Regarding Pi Coin’s Value: Price Isn’t Everything
Many people, even enthusiastic Pioneers, may not fully understand what the Pi Network is trying to achieve, particularly the intrinsic value of Pi Coin. Consider this for a moment. If you can mine 100 Pi per day, even at $0.6 per coin, that’s $60 worth per day. Even if it’s just 10 Pi per day, that’s $6. Is this truly worthless?
What determines whether a price is high or low is not just the number on the screen. What matters is what that number means in the context of how Pi is acquired and how it is used. The Pi Network is different from Bitcoin. Pioneers continue to acquire Pi every day, and the game is not over.
Pi Network’s Potential and the Dynamics of Price Formation
From a broader perspective, the maximum supply of Pi Network is 100 billion Pi. If this were fully circulated in the market, the theoretical market capitalization would be around $60 billion, holding the potential to rank among the top 10 cryptocurrencies globally. This figure suggests the magnitude of the potential we currently hold.
However, the current price is being driven by a tug-of-war between three main forces within the Pi community:
- Miners (Pioneers, Node Operators): They supply Pi to the market. Naturally, they hope for the price to rise, and some dream of becoming rich with Pi. They are the supply side.
- Users (App Developers, Creators, General Users): They actually use Pi. For example, Pi is needed to make posts stand out on Fireside Forum. They want Pi to be affordable. The lower the price, the more activity is possible. They are the demand side.
- Ecosystem Coordinators (Pi Core Team, Exchanges): They manage large amounts of Pi and can control the supply to the market. Their role is to stabilize the economy as usage expands. If there is too much supply, the price will crash; if there is too little, no one can use it.
The ideal price is formed where the supply from miners meets the demand from users. However, currently, demand is still low. If many holders lose confidence and rush to sell simultaneously, the system could become unstable. This is why the Pi Core Team’s role in balancing is more important than ever.
The Importance of Utility and Ecosystem Building
Many Pioneers may think that if they stop mining, the project will end, but that is not necessarily correct. What is important is not the presence or absence of individual mining activity, but that Pi Coin is actually used, in other words, utility.
What the Pi Network truly needs now are people who use Pi Coin in the real world. Developers who build apps, people who trade goods and services using Pi, and Pioneers who not only mine but also use, spread, and innovate with Pi. As concrete steps, the introduction of the Pi Ad Network and the development of dApps (decentralized applications) such as 1Pi Mall (E-commerce), Workforce Pool (Freelance Marketplace), and Map of Pi (Pi Payment Enabled Store Finder) are underway.
The Significance of Consensus 2025
Dr. Nicolas Kokkalis’s participation in major conferences like Consensus 2025 is extremely significant. Such events are like magnets that attract developers, investors, and future partners. His participation provides an excellent opportunity to present the Pi Network to those who can build the future of the ecosystem.
Time to Discard Hype and Take Action
Hype like “Pi will be $1000 soon” or “You’ll get rich overnight” no longer helps the Pi Network. That phase has passed. It’s time to face reality. What Pi needs is not miners with excessive expectations, but true contributors.
Stop fueling FOMO (Fear Of Missing Out) and stop dreaming without taking action. Belief alone is just a wish.
A Call to Pioneers: Act as Builders
If you truly believe in the Pi Network and its principles (a decentralized future, financial empowerment, a community-driven economy), now is the time to act. It’s not the time to just wait for a miraculous price surge or expect exchange listings to change your life. True progress comes from participation, contribution, and commitment.
- Support businesses that use Pi.
- Educate new Pioneers.
- Help build real-world utility for Pi Coin.
Your active involvement has never been more crucial. Don’t just hold Pi Coin like a lottery ticket; use it. Pay with Pi in businesses, exchange it for goods and services, and show the world that this is not just a coin, but a movement with true value, supported by a participating community, not speculation.
Support Pioneers who are developing apps, Pioneers who are running businesses using Pi, and those who are promoting adoption, even if they are just starting out. That’s how the ecosystem grows. Every time you support a Pi transaction, every time you engage with a Pi project, you are proving its use case and helping to increase the value of the entire network.
We have prioritized truth, transparency, and the responsibility to create the future we desire over hype. If you say you believe in Pi, show it with action. Belief without effort is just noise.
Conclusion: The Future Depends on Utility
The decline in Pi Coin’s price is the result of many intertwined factors, but it does not necessarily mean the end of the project. Rather, it suggests that the speculative frenzy has cooled, and it is time to focus on true value: utility and ecosystem building. Now that we have transitioned to the Open Mainnet phase in February 2025, the future of the Pi Network depends on how actively each and every one of us Pioneers participates and “uses” Pi, not just as miners, but as builders of the ecosystem.
What kind of apps and services would you like to see in the Pi Network ecosystem? Share your ideas in the comments.