備受期待的主網發布後，PI Network的令牌（PI）在不到24小時內下降了65％以上

代幣進入市場的價值低於IOU價格預測超過60美元，在發布後不久，在持有人開始退出職位後，它下降到1美元以下。

Pi Network’s token, denoted as PI, has nosedived by over 65% within 24 hours of its much-anticipated mainnet launch on Thursday.

PI Network的代幣（表示為PI）在周四備受期待的Mainnet發布後的24小時內佔了65％以上。

The token's debut in the markets was marked by lower prices than the predicted IOU values of over $60. Soon after its launch, it dropped below the $1 mark as holders began exiting their positions.

代幣在市場上的首次亮相的價格低於預測的價值超過60美元的價格。推出後不久，隨著持有人開始退出職位，它跌至1美元以下。

Pi Network officially launched its open mainnet on Thursday morning, allowing users to trade PI on centralized exchanges for the first time.

PI Network於週四早上正式推出了開放式大型網絡，使用戶可以首次在集中交易所進行PI交易。

The token debuted on several platforms, including OKX, Gate.io, Bitget, and Pionex, reaching a peak price of $2.1 before plummeting rapidly.

該代幣在包括OKX，Gate.io，Bitget和Pionex在內的多個平台上首次亮相，在迅速下降之前達到了2.1美元的高峰價格。

By early Friday, during Asian market trading hours, the token's value had crashed to $0.6, marking its all-time low, according to data from Coingecko.

根據Coingecko的數據，到週五上旬，在亞洲市場交易時間內，令牌的價值已跌至0.6美元，標誌著其歷史最低水平。

Have Pi holders commenced profit-taking?

PI持有人是否開始獲利？

Investors are discussing the massive selloff on social media platforms. Some crypto traders on X expressed concerns regarding PI's vast token limit of 100 billion.

投資者正在社交媒體平台上討論大量拋售。 X上的一些加密貨幣交易者對PI的巨大象徵限製表示擔憂。

One trader highlighted that Pi Network did not grant sufficient Know Your Customer (KYC) permissions to users holding larger amounts of PI, making it challenging for them to move coins to the mainnet.

一位交易者強調，PI網絡沒有足夠的足夠了解您的客戶（KYC）的許可，以使擁有更多PI的用戶使他們挑戰將硬幣移至Mainnet。

“PI Network will never recover due to their total supply of 100 billion PI,” the trader wrote. “It seems like the team dumped on retail investors using hype.”

交易員寫道：“由於PI網絡的總供應1000億pi，PI網絡將永遠不會恢復。” “似乎該團隊使用炒作傾倒了散戶投資者。”

Pi coin supporters countered these allegations, with one user disclosing that they successfully completed the verification and transferred over 2,000 tokens.

PI硬幣支持者反駁了這些指控，其中一位用戶透露他們成功完成了驗證並轉移了2,000多個令牌。

Another market observer raised concerns regarding liquidity, stating that the token's total market value had experienced a loss of $100 billion since its launch.

另一個市場觀察家引起了人們對流動性的擔憂，並指出，自推出以來，令牌的總市場價值損失了1000億美元。

“70% down from ATH, $100B+ wiped out of FDV, 10% up from ATL,” the trader noted. “Retail investors lost billions, airdrop farmers dumped their bags, and as I predicted, PI collapsed right after TGE.”

交易員指出：“從ATH下降了70％，$ 100B+從FDV中擦除，從ATL上升10％。” “散戶投資者損失了數十億美元，空投農民拋棄了行李，正如我所預料的那樣，PI立即在TGE之後倒塌。”

Solana memecoin launchpad activity cools down

Solana Memecoin Launchpad活動會冷卻

Solana's Pump.fun, the blockchain's leading token launchpad, has seen a significant drop in new token launches and revenue in recent weeks.

區塊鏈領先的代幣發射台的索拉納（Solana）泵。

According to Solscan data, the number of daily token launches on Solana reached its lowest with 27,820 last Wednesday, marking a roughly 70% decline from the 2025 high of 95,578 seen on January 26.

根據Solscan數據，上週三，Solana上的日常代幣數量達到了最低水平，比2025年1月26日看到的95,578高約70％。

On the same day, Pump.fun, which is responsible for more than half of all Solana token launches, recorded only 35,152 new tokens, its weakest performance since December 2024. Revenue also fell to $1.69 million, the lowest since early November, according to a Dune Analytics dashboard.

在同一天，Pump.Fun負責所有Solana代幣發布的一半以上，僅記錄了35,152個新令牌，這是自2024年12月以來最弱的表現。沙丘分析儀表板。

January was among Pump.fun's most active months, with political figures like US President Donald Trump and his wife, Melania, launching tokens before the former took up his presidential duties.

一月是泵。Fun最活躍的月份，如我們總統唐納德·特朗普（Donald Trump）和他的妻子梅拉尼亞（Melania）等政治人物，在前者擔任總統職責之前發射了代幣。

As of this publication, the platform has over 7.8 million tokens launched, with over 13.578 million addresses. Data from Solana-based artificial intelligence (AI) decentralized exchange, Boltrade.ai, reveals that 82% of Pump.fun's volume has crashed since Christmas Day.

截至本出版物時，該平台推出了超過780萬個令牌，其中超過13578萬個地址。總部位於Solana的人工智能（AI）分散交易所Boltrade.ai的數據表明，自聖誕節以來，泵的82％的量已經崩潰。

1/ https://t.co/FcpcwRedjZ is a Farm for Insiders & Dev Rugs

1/https://t.co/fcpcwredjz是內部人士和開發地毯的農場

10-20K tokens minted daily, all free—sounds bullish? Nah. Most are dead in hours.

10-20k代幣每天鑄造，全部免費 - 單調看漲？不。大多數人在幾個小時內死亡。

Only 2-5 pumpfuns launched in the last few days are still above $1M

在過去幾天中，只有2-5個南瓜仍超過100萬美元

Last week, pumpfun's graduating rate dropped to 0.87% (the… pic.twitter.com/gAiFxMYnZP

上週，Pumpfun的畢業率下降到0.87％（pic.twitter.com/gaifxmynzp

— Boltrade (@boltrade_ai) February 21, 2025

-Sultultade（@boltrade_ai）2025年2月21日

The exchange highlights that most token developers have launched coins to use investors as exit liquidity, which is why fewer than 10 token trading volumes have managed to stay above $1 million for more than 3 days to a week.

交易所的重點是，大多數代幣開發商都推出硬幣將投資者用作退出流動性，這就是為什麼少於10個令牌交易量已經設法在超過100萬美元的時間內保持超過100萬美元，超過3天至一周。

Argentine President Javier Milei also played a role in the cooling of memecoin launches after he promoted a memecoin called Libra (LIBRA) on February 14 through his official X account. Milei stated that Libra was linked to Argentina's initiative to support the growth of small businesses.

阿根廷總統賈維爾·米利（Javier Milei）於2月14日通過其官方X帳戶推廣了一個名為Libra（天秤座）的Memecoin，在Memecoin發射的冷卻中發揮了作用。米利（Milei）表示，天秤座與阿根廷支持小型企業發展的倡議有關。

A few hours later, the Argentine leader retracted his sentiments on the memecoin and deleted the post, but not before the token's creators were accused of insider trading that allegedly helped developers pull off a $251 million rug pull within hours. According to blockchain analytics firm Nansen, over 80% of LIBRA traders suffered losses of at least $1,500.

幾個小時後，這位阿根廷領導人撤回了他在Memecoin上的觀點並刪除了該職位，但在代幣的創作者被指控內幕交易之前，據稱這有助於開發人員在幾個小時內取得了2.51億美元的地毯。根據區塊鏈分析公司Nansen的數據，超過80％的天秤座交易者的損失至少為1,500美元。

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