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Pi Network Launches $100M Venture Fund Despite Market Downturn
Pi Network Launches $100M Venture Fund Despite Market Downturn
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[TRADE_PLUGIN]PIUSDT,PIUSDT[/TRADE_PLUGIN]
PI News -
Pi Network has announced the creation of Pi Network Ventures, a $100 million fund backed by 10% of the Pi Foundation’s token reserves. This initiative focuses on supporting startups that build real-world applications for Pi cryptocurrency, shifting its role from a speculative asset to a utility-driven ecosystem.
Contrary to expectations, the market reacted negatively. PI Coin’s value dropped 45% this week, erasing $5 billion in market cap and pushing it out of the top 20 cryptocurrencies. Currently trading at $0.88 after a brief peak at $1.50, the decline has raised concerns among investors about the fund’s timing and potential risks.
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