PI Network（PI）價格崩潰了，搖搖欲墜的投資者信心

在湍流很普遍的加密市場中，有些跌倒比其他跌倒更突出。 PI網絡曾經被視為一個有前途的項目，目睹了其價格崩潰

The crypto market is no stranger to turbulence, but some falls stand out more than others. In a recent development that has shaken investor confidence, Pi Network, once seen as a rising project, has witnessed its price collapse to an all-time low.

加密市場對動盪並不陌生，但是有些跌倒比其他瀑布更加脫穎而出。在震驚投資者信心的最近發展中，PI Network曾經被視為一個不斷上升的項目，目睹了其價格跌至歷史最低水平。

While the token struggles to set foot on major exchange platforms, its trading volume is dropping, a sign of growing disinterest. Can Pi still rebound, or are we witnessing the collapse of a promise that was never fulfilled?

儘管令牌努力踏上主要的交換平台，但其交易量正在下降，這表明不感興趣。 PI仍然可以反彈，還是我們目睹從未實現的諾言的崩潰？

A spectacular fall, declining volumes

壯觀的跌幅，體積下降

The fall of Pi Network is part of a series of structural blockages that are sustainably weakening the project’s dynamics. Indeed, the PI token hit its lowest level this week since February 2022, reaching $0.7915, with a drop of over 74 % from its all-time high.

PI網絡的倒塌是一系列結構障礙的一部分，這些結構障礙可持續削弱該項目的動態。的確，自2022年2月以來，PI代幣達到了本週的最低水平，達到0.7915美元，遠低於其歷史最高水平以上74％以上。

Meanwhile, the project’s market capitalization has collapsed, dropping from nearly $20 billion to $5.35 billion. This represents “a loss of $14.65 billion.”

同時，該項目的市值已經崩潰，從近200億美元下降到53.5億美元。這代表“損失146.5億美元”。

This correction is significant, as it reveals several major flaws. Among the explanatory factors, several key elements can be identified:

這種校正是顯著的，因為它揭示了幾個主要缺陷。在解釋性因素中，可以確定幾個關鍵要素：

These combined elements create a climate of increased uncertainty around Pi Network. While its mainnet has officially been launched, the absence of strong backing, opacity regarding token distribution, and low traction in the markets weigh heavily on its credibility.

這些組合的元素創造了PI網絡周圍不確定性增加的氣氛。儘管其主網已正式推出，但缺乏強大的支持，關於令牌分配的不透明性以及市場的低吸引力在很大程度上佔據其信譽。

A contested governance and an uncertain future

有爭議的治理和不確定的未來

Alongside the drop in price, more structural concerns are crystallizing around the governance of the Pi Network crypto. A significant proportion of tokens is currently in the hands of the Pi Foundation, raising questions about the project’s effective decentralization.

除了價格下降外，圍繞PI網絡加密的治理，更加結構上的關注點。當前，很大一部分令牌掌握在PI基金會的手中，引發了有關該項目有效分散化的問題。

The current estimated value of the tokens held by the foundation would amount to $50 billion. This concentration of supply raises fears of possible market manipulation or a lasting imbalance in token distribution.

基金會持有的代幣的當前估計價值將達到500億美元。這種供應集中的集中度使人們擔心可能的市場操縱或代幣分佈的持久失衡。

Another point of tension: the gradual unlocking of new tokens. More than 1.6 billion Pi are expected to hit the market over the next 12 months, which could increase selling pressure on the price. Without a clear management strategy or redistribution plan, these new emissions risk destabilizing the ecosystem even further.

緊張的另一點：新令牌的逐漸解鎖。預計在未來12個月內將超過16億PI上市，這可能會增加價格的銷售壓力。如果沒有明確的管理策略或重新分配計劃，這些新排放可能會進一步破壞生態系統的穩定。

In the short term, the lack of a public roadmap on these major issues adds to the confusion. The project could be on a more downward slope if rebalancing measures are not taken quickly, particularly regarding governance and communication.

在短期內，缺乏在這些主要問題上的公共路線圖增加了困惑。如果不快速採取重新平衡措施，尤其是在治理和溝通方面，該項目可能會處於更低的斜率上。

As for the future, it will largely depend on Pi Network’s ability to regain investor confidence, diversify its user base, and secure buy-in from major crypto exchange platforms like Binance and Bybit. The time has come for strategic choices.

至於未來，它將在很大程度上取決於PI網絡重新獲得投資者信心，使其用戶群多樣化並從BENANCE和BYBIT等主要加密交流平台獲得的買入能力。戰略選擇的時候了。