备受期待的主网发布后，PI Network的令牌（PI）在不到24小时内下降了65％以上

代币进入市场的价值低于IOU价格预测超过60美元，在发布后不久，在持有人开始退出职位后，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的代币（表示为PI）在周四备受期待的Mainnet发布后的24小时内占了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.

代币在市场上的首次亮相的价格低于预测的价值超过60美元的价格。推出后不久，随着持有人开始退出职位，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于周四早上正式推出了开放式大型网络，使用户可以首次在集中交易所进行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.

该代币在包括OKX，Gate.io，Bitget和Pionex在内的多个平台上首次亮相，在迅速下降之前达到了2.1美元的高峰价格。

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.

根据Coingecko的数据，到周五上旬，在亚洲市场交易时间内，令牌的价值已跌至0.6美元，标志着其历史最低水平。

Have Pi holders commenced profit-taking?

PI持有人是否开始获利？

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.

投资者正在社交媒体平台上讨论大量抛售。 X上的一些加密货币交易者对PI的巨大象征限制表示担忧。

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.

一位交易者强调，PI网络没有足够的足够了解您的客户（KYC）的许可，以使拥有更多PI的用户使他们挑战将硬币移至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.”

交易员写道：“由于PI网络的总供应1000亿pi，PI网络将永远不会恢复。” “似乎该团队使用炒作倾倒了散户投资者。”

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

PI硬币支持者反驳了这些指控，其中一位用户透露他们成功完成了验证并转移了2,000多个令牌。

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.

另一个市场观察家引起了人们对流动性的担忧，并指出，自推出以来，令牌的总市场价值损失了1000亿美元。

“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.”

交易员指出：“从ATH下降了70％，$ 100B+从FDV中擦除，从ATL上升10％。” “散户投资者损失了数十亿美元，空投农民抛弃了行李，正如我所预料的那样，PI立即在TGE之后倒塌。”

Solana memecoin launchpad activity cools down

Solana Memecoin Launchpad活动会冷却

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

区块链领先的代币发射台的索拉纳（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.

根据Solscan数据，上周三，Solana上的日常代币数量达到了最低水平，比2025年1月26日看到的95,578高约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负责所有Solana代币发布的一半以上，仅记录了35,152个新令牌，这是自2024年12月以来最弱的表现。沙丘分析仪表板。

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最活跃的月份，如我们总统唐纳德·特朗普（Donald Trump）和他的妻子梅拉尼亚（Melania）等政治人物，在前者担任总统职责之前发射了代币。

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.

截至本出版物时，该平台推出了超过780万个令牌，其中超过13578万个地址。来自索拉纳（Solana）的人工智能（AI）分散交易所Boltrade.ai的数据表明，自圣诞节以来，泵的82％的量已经崩溃。

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

1/https://t.co/fcpcwredjz是内部人士和开发地毯的农场

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

10-20k代币每天铸造，全部免费 - 单调看涨？不。大多数人在几个小时内死亡。

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

在过去几天中，只有2-5个南瓜仍超过100万美元

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

上周，Pumpfun的毕业率下降到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.

交易所的重点是，大多数代币开发商都推出硬币将投资者用作退出流动性，这就是为什么少于10个令牌交易量已经设法在超过100万美元的时间内保持超过100万美元，超过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.

阿根廷总统贾维尔·米利（Javier Milei）于2月14日通过其官方X帐户推广了一个名为Libra（天秤座）的Memecoin，在Memecoin发射的冷却中发挥了作用。米利（Milei）表示，天秤座与阿根廷支持小型企业发展的倡议有关。

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.

几个小时后，这位阿根廷领导人撤回了他在Memecoin上的观点并删除了该职位，但在代币的创作者被指控内幕交易之前，据称这有助于开发人员在几个小时内取得了2.51亿美元的地毯。根据区块链分析公司Nansen的数据，超过80％的天秤座交易者的损失至少为1,500美元。

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