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Pi Network Token Plunges 33% Below $1 Following Ecosystem Fund Controversy
Pi Network Token Plunges 33% Below $1 Following Ecosystem Fund Controversy
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network’s native token dropped sharply by 33% to $0.86, losing all gains from its recent peak at $1.40. This downturn comes after community backlash against the Pi Core Team’s announcement of a $100 million ecosystem investment fund.
The controversy erupted on May 14 with the unveiling of Pi Network Ventures, an initiative aimed at funding startups developing real-world applications for the cryptocurrency. The polarized community response underscores the challenges projects face when moving from theoretical HYPE to practical adoption phases.
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Pi Network Token Crashes 33% to $0.86 Following Controversial $100M Venture Fund Announcement
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