Pi Network Faces Market Challenges Despite Ecosystem Expansion
Pi Network's PI token is currently trading at $0.5517, showing a slight daily increase of 2.28% but experiencing significant downward pressure overall. The token has lost over 30% of its value in the past month, lagging behind other LAYER 1 cryptocurrencies.
Retail interest appears to be declining, with Google Trends data indicating a drop in search volume for "Pi Network" to a score of 8. This decrease comes despite the network's transition to open-access blockchain functionality three months ago.
On a positive note, the ecosystem demonstrates growth with Mainnet users increasing by 3 million since February, now totaling over 13 million. Developers now enjoy greater flexibility to build on the Pi blockchain, which reportedly has 7.4 billion PI in circulation.
