尽管Pifest 2025展示了现实世界中的用法，但PI（PI）令牌的2月峰值下降了77％，至0.70美元以下。

PI Network的PI代币跌至0.70美元低于0.70美元以下，现在仅少了几美分，远低于$ 0.6152的历史最低点。在代币损失了其价值的77％之后，这种急剧下降

The Pi Network’s native token, Pi (PI), has slid below the $0.70 threshold, now just a few cents away from reaching its all-time low of $0.6152, hit earlier this year.

PI网络的本地令牌PI（PI）的滑动低于0.70美元的门槛，现在距离今年早些时候达到其历史最低0.6152美元只有几美分。

The token has lost a staggering 77% of its value since cresting at $2.98 in February, a peak reached as Bitcoin (BTC) was in the midst of a price discovery phase, ultimately setting an all-time high above $85,000. Meanwhile, Ethereum (ETH) sustained itself above the $1,850 mark throughout February.

自2月份的顶峰以2.98美元的价格以来，该令牌损失了惊人的77％，因为比特币（BTC）处于价格发现阶段的峰值，最终将历史上的高价设定为85,000美元以上。同时，以太坊（ETH）在整个2月的$ 1,850上保持了自己的位置。

But as broader cryptocurrency markets have displayed strength recently, with Bitcoin's price setting an impressive 2024 high and Ethereum’s "Merge" delivering promising results, Pi appears to be defying the bullish tide.

但是，由于最近更广泛的加密货币市场表现出了强度，比特币的价格设定了令人印象深刻的2024年，而以太坊的“合并”带来了令人鼓舞的结果，PI似乎违背了看涨的潮流。

The surprising drop comes after the recent conclusion of PiFest 2025, the first-ever global commerce event powered by the Pi Open Network.

令人惊讶的下降是在Pifest 2025最近结束后，这是PI Open Network提供的首次全球商务活动。

Despite record-breaking participation, with over 125,000 registered sellers and 58,000 active merchants participating in the event, and more than 1.8 million Pioneers engaging in transactions on a daily basis using their Pi Wallets as cafes, boutiques, auto shops, and local services accepted Pi at the event, the token's value has continued to slide.

尽管有创纪录的参与，但参加活动的125,000多名注册卖家和58,000名活跃商人参加了活动，每天使用PI钱包作为咖啡馆，精品店，汽车商店和本地服务的PI，每天都有超过180万的先驱者从事交易，而该事件的价值仍在继续。

Why Is Pi Coin Price Struggling?

为什么PI硬币价格挣扎？

According to cryptocurrency analysts, the sustained downward pressure on PI's price may be attributed to investor uncertainty. Despite the success of PiFest 2025 in showcasing the expanding scope of the Pi ecosystem, with an increasing number of use cases being developed, and the integration of the token in diverse sectors, the market seems to be exhibiting caution.

根据加密货币分析师的说法，PI价格的持续向下压力可能归因于投资者的不确定性。尽管Pifest 2025在展示PI生态系统的扩大范围方面取得了成功，并且开发了越来越多的用例，并且代币在各个部门中的整合，但市场似乎在谨慎行事。

This caution is fueled by several factors, including limited liquidity in the Pi token market and ongoing concerns among investors regarding the token's long-term utility. Investors are keen to see how Pi will generate sustainable value in the broader cryptocurrency ecosystem.

这一谨慎源于几个因素，包括PI代币市场的流动性有限以及投资者对代币的长期公用事业的持续担忧。投资者渴望了解PI将如何在更广泛的加密货币生态系统中产生可持续价值。

Moreover, the lack of regular updates from the Pi Network leadership regarding the network’s financial health, strategic roadmap, and upcoming milestones could be contributing to skepticism among traders. While the event showcased Pi's role in local commerce, it seems that translating this into sustained price growth has proven challenging.

此外，PI网络领导层缺乏有关网络财务健康，战略路线图和即将到来的里程碑的定期更新可能会引起交易者的怀疑。尽管该活动展示了PI在本地贸易中的作用，但将其转化为持续的价格增长似乎已被证明具有挑战性。

The Road Ahead

前面的道路

However, despite the current downturn, the leadership at the Pi Network remains optimistic. The successful execution of PiFest 2025 underscores the potential of the Pi token for real-world applications, with businesses from around the world now participating in the network.

然而，尽管目前的经济低迷，PI网络的领导仍然乐观。 Pifest 2025的成功执行强调了PI令牌对现实世界应用的潜力，来自世界各地的企业现在正在参与网络。

As the Pi Network continues to expand its footprint and develop new use cases for the token, many investors are maintaining their optimism. They are hopeful that as the network's ecosystem grows, it will be reflected in the token's price performance.

随着PI网络继续扩大其足迹并为代币开发新的用例，许多投资者正在保持乐观态度。他们希望随着网络的生态系统的增长，它将反映在令牌的价格性能中。

But for now, the question remains: Can Pi regain its footing in a market largely displaying bullish sentiments, or is this just the beginning of a longer correction phase for the token as it encounters headwinds in a competitive cryptocurrency landscape? Only time will tell which way the token trends next.

但是就目前而言，问题仍然存在：PI可以在很大程度上表现出看涨情感的市场中恢复其地位，还是这只是代币在竞争性加密货币景观中遇到较长的校正阶段的开始？只有时间才能说明接下来的令牌趋势。