PI Network（PI）价格崩溃了，摇摇欲坠的投资者信心

在湍流很普遍的加密市场中，有些跌倒比其他跌倒更突出。 PI网络曾经被视为一个有前途的项目，目睹了其价格崩溃

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.

加密市场对动荡并不陌生，但是有些跌倒比其他瀑布更加脱颖而出。在震惊投资者信心的最近发展中，PI Network曾经被视为一个不断上升的项目，目睹了其价格跌至历史最低水平。

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?

尽管令牌努力踏上主要的交换平台，但其交易量正在下降，这表明不感兴趣。 PI仍然可以反弹，还是我们目睹从未实现的诺言的崩溃？

A spectacular fall, declining volumes

壮观的跌幅，体积下降

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网络的倒塌是一系列结构障碍的一部分，这些结构障碍可持续削弱该项目的动态。的确，自2022年2月以来，PI代币达到了本周的最低水平，达到0.7915美元，远低于其历史最高水平以上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.”

同时，该项目的市值已经崩溃，从近200亿美元下降到53.5亿美元。这代表“损失146.5亿美元”。

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

这种校正是显着的，因为它揭示了几个主要缺陷。在解释性因素中，可以确定几个关键要素：

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.

这些组合的元素创造了PI网络周围不确定性增加的气氛。尽管其主网已正式推出，但缺乏强大的支持，关于令牌分配的不透明性以及市场的低吸引力在很大程度上占据其信誉。

A contested governance and an uncertain future

有争议的治理和不确定的未来

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.

除了价格下降外，围绕PI网络加密的治理，更加结构上的关注点。当前，很大一部分令牌掌握在PI基金会的手中，引发了有关该项目有效分散化的问题。

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.

基金会持有的代币的当前估计价值将达到500亿美元。这种供应集中的集中度使人们担心可能的市场操纵或代币分布的持久失衡。

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.

紧张的另一点：新令牌的逐渐解锁。预计在未来12个月内将超过16亿PI上市，这可能会增加价格的销售压力。如果没有明确的管理策略或重新分配计划，这些新排放可能会进一步破坏生态系统的稳定。

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.

在短期内，缺乏在这些主要问题上的公共路线图增加了困惑。如果不快速采取重新平衡措施，尤其是在治理和沟通方面，该项目可能会处于更低的斜率上。

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.

至于未来，它将在很大程度上取决于PI网络重新获得投资者信心，使其用户群多样化并从BENANCE和BYBIT等主要加密交流平台获得的买入能力。战略选择的时候了。