Pi Cryptocurrency Players React After 'New Year Greeting'

In the article “Looking Back at 2025,” PCT states that this is a pivotal year for Pi Network. The open network project (Open Network) launched in February 2025 “to interact with the broader blockchain world,” along with the release of the decentralized application development tool Pi App Studio, AI infrastructure, Pi Network Ventures investment fund to promote the ecosystem, a Hackathon competition, or domain auction “.pi”. PCT also mentions improvements in personal identity verification (KYC), including tentative verification (Tentative KYC). The team reports that 17.5 million pioneer users (Pioneer) have completed the KYC process, with 15.8 million transitioning to the mainnet (Mainnet). The node (node) system on the Testnet has reached over 350,000 nodes, representing more than one million CPUs. However, the team does not elaborate much on the goals for 2026, aside from the phrase “Pi Network in 2026 will be shaped by Pi’s long-term strategies and plans.” Additionally, the project emphasizes developers and users as key factors but does not provide a clear roadmap or performance targets. According to CoinCentral, the lack of clarity has caused negative reactions on social media platforms, especially under the post on X. “Years of hype, delays, unclear schedules, and no accountability. They are gradually destroying users’ trust,” commented Dorian not Grai. “Trust is the foundation of any network. Once lost, prices will fluctuate accordingly. The market does not value dreams but values execution, yet the execution process is severely lacking.” “Now, talking about the core team of Pi is like someone drawing in mid-air! Useless!”, wrote CryptoXD, a self-proclaimed crypto expert. Some assessments of the Pi Network ecosystem say it “really isn’t good,” calling it “the slowest project in history,” with “initial excitement fading,” and predict that by mid-year, Pi’s price could trade at $0.001 or lower, a decline from the current $0.2 per coin. Pi Network was launched in 2019, promoted as helping participants own free cryptocurrencies by opening an app on their phones to “click lightning” to check in daily. Although approaching its 7th year and announcing “network opening,” Pi Network is still considered an incomplete blockchain project due to the lack of (smart contract) and open-source code. Recently, the project has been seen as testing users’ patience with small, drip-fed upgrades. Following PCT’s announcement, Pi Network’s price dropped from $0.205 to $0.19. According to Crypto Potato, Pi’s price may continue to decline in the coming days as the project unlocks an additional 6 million tokens. In 2025, Pi Network has not seen many positive developments. In fact, last year, the cryptocurrency hit a peak of $3 per coin but quickly plummeted over 90% in value. Just in late September and early October, Pi Network players experienced two “shocks” as Pi’s price repeatedly hit record lows. On September 22, the price fell to $0.18 per coin, and on October 10, it dropped to $0.14 per coin—the lowest ever. Mr. Minh Vuong, with 8 years of experience in the crypto field in Ho Chi Minh City, said that Pi players “are engaging in a high-risk game.” “Pi Network is a real project, with real products, real users, and does not use funds from individual investors,” he stated. “The biggest risk for Pi Network comes from the total token supply being too large, creating enormous future supply pressure that could dilute value and cause deep declines.” Previously, many crypto-focused sites predicted Pi’s price would decrease as circulating supply increased. Pi has a total supply of 100 billion tokens, with about 8.4 billion currently in circulation, up from 6.9 billion in June 2025. According to CoinPedia, the fact that most tokens are held by the development team and the way they distribute tokens to users raises concerns that they are intentionally prolonging the process to retain users. The site also questions recent activities such as fundraising, the role of the Pi Foundation, and whether insiders are secretly selling tokens. These suspicions have severely damaged the project’s reputation. Cointribune states that Pi Network’s price “reflects the waning enthusiasm of a community that has already been controversial.” The site predicts a “gloomy picture” ahead, as Pi struggles to break through due to low trading volume. “If there is no clear progress, Pi could fall into a ‘forgotten zone,’ as long-term holders gradually withdraw,” commented Beincrypto. Earlier this month, seven Chinese financial associations issued a joint warning about crypto risks, mentioning Pi Network as a “worthless digital currency.” The associations advise caution regarding crypto-related activities and urge people to “report immediately to authorities and police if suspicious activities are detected.”