So, Pi Network decided to launch a shiny new $100 million ecosystem fund. And what did we get? A *huge* price drop of 13%. Bravo, Pi Coin! 👏
Let’s break it down: Pi Coin (PI) plummeted to $1.06, losing more than 35% from its peak this week. This drop turned its market cap into a sad $7.5 billion, down from a majestic $10 billion earlier. Someone call the fire department, because things are burning. 🔥
Why, you ask? Well, the launch of Pi Network Ventures—a fund that’s supposed to help startups build on Pi’s tech—didn’t exactly make the Pi Coin fans jump for joy. Instead, they were like, “Oh, another wait game.” 😒
First off, Pi Coin dropped because of the classic “buy the rumor, sell the news” move. Investors got all hyped up for the big news, bought in early, and then… sold it all when the announcement actually dropped. Guess that $100 million fund wasn’t as exciting as they thought. 💸
In fact, Pi Coin went on a wild 200% ride when developers teased the news. Kinda like the crypto world’s version of “keep calm and wait for the crash.” Sounds familiar, huh? (See: Trump Coin’s potential drop after his fancy dinner.) 🍽️
Pi Network’s $100M Fund: An Epic Letdown? 🤷♀️
Second, the fund won’t do much right away. I mean, it’s gonna take months before the funded projects even see the light of day. And even then, there’s no guarantee anyone will actually use them. Good luck with that, Pi Network! 👀
Third, let’s talk expectations, shall we? People were hoping for something more… *exciting*. Maybe a coin listing on a platform like Coinbase, Binance, or HTX. But no, instead we get a fund. Boring, right? 😩 A listing could’ve sent the coin soaring, but no, we’re stuck here with this waiting game.
Oh, and don’t get me started on the token burn. Investors have *major* concerns about the 1.468 billion tokens set to flood the market. A burn would’ve been like a sweet little gift. But nope, nothing to see here. 🎁
Lastly, the general crypto market is in a bit of a slump. Bitcoin’s down to $103,300, and the total market cap for all coins fell by 0.6%. So when the crypto market sneezes, Pi Coin catches a cold. Classic. 🤧
Read More
- Best Awakened Hollyberry Build In Cookie Run Kingdom
- Nintendo Offers Higher Margins to Japanese Retailers in Switch 2 Push
- Tainted Grail the Fall of Avalon: Should You Turn in Vidar?
- Nintendo Switch 2 Confirms Important Child Safety Feature
- Nintendo May Be Struggling to Meet Switch 2 Demand in Japan
- Top 8 UFC 5 Perks Every Fighter Should Use
- Nintendo Dismisses Report On Switch 2 Retailer Profit Margins
- Best Mage Skills in Tainted Grail: The Fall of Avalon
- Nvidia Reports Record Q1 Revenue
- Switch 2 Sales Soar to Historic Levels
2025-05-14 20:26