Four reasons Pi Network charge crashed after mainnet release



Pi Network crashed after the mainnet release, main to a $6 billion wipeout within the first two days. Pi Network Pi Network pi 77.32% Pi Network become buying and selling at $zero.Seventy six on Saturday, down from the mainnet release rate of $2. Here are the four primary motives why the Pi coin fee crashed Pi Network prices crashes amid rip-off accusations A key motive why the Pi coin charge crashed is that Ben Zhou, Bybit’s chief govt officer, attacked it of being a scam. He cited a Chinese report that accused Pi of being a scam targeted in the direction of the aged. Pi Network has rejected these accusations and maintained that it is a real crypto undertaking that has been in improvement inside the ultimate six years.

 Bybit’s CEO assertion became remarkable for 2 reasons. First, the organization has turn out to be the second-largest crypto trade in phrases of quantity after Binance. Second, it came on the equal day that a $1.4 billion hack came about on its change. Pioneers probable dumped their tokens amid panic Another motive why the Pi coin fee crashed is that many pioneers decided to sell off their tokens after the mainnet launch. Historically, maximum pre-mainnet launch token holders sell them as soon as feasible to prevent in addition losses. In Pi Network’s case, many of these holders have seen other tap-to-earn tokens crash without bouncing returned. The chart below suggests that every one tap-to-earn tokens at the TON blockchain have crashed after their mainnet launch. This includes famous names like Notcoin Notcoin now not 6.03% Notcoin and Hamster Kombat. 

 Many newly released tokens crash Further, Pi Network rate crashed because many recently-launched tokens have crashed. For instance, a high-software token like Wormhole Wormhole w zero.17% Wormhole to start with peaked at $1.6 after its airdrop in April closing year and has crashed to $0.18. Similarly, ZkSync ZKsync zk 2.76% ZKsync fee soared to $0.2942 after its airdrop and then dropped to $zero.1. EigenLayer Eigenlayer eigen four.44% Eigenlayer, any other blue-chip coin, dropped from $five.6 in 2024 to $2. Most lately, Official Trump and Melania meme coins have plunged by means of over eighty% from their top. Pi coin charge crashed as cryptocurrencies dived Further, the Pi Network fee crash accelerated due to the ongoing weak spot inside the crypto enterprise. Bitcoin price remains in a correction after falling through 10% from its all-time high.

 Other altcoins like Ethereum, Cardano, Algorand, and Near have additionally pulled again by way of double digits from their November highs. The crypto worry and greed index has moved from the acute greed area of 88 to the impartial factor of forty. Historically, newly released tokens do well whilst there is a bull market. This is a similar concept as within the preliminary public services, where many newly indexed firms rise while shares are doing properly. Will Pi Network charge rebound? It is hard to predict whether or not the Pi Network coin will get better this 12 months when you consider that it's miles in a charge-discovery section. Its rebound will in all likelihood rely upon more call for coming in from traders, and its atmosphere growth. Pi Network had approximately a hundred apps on its community on the mainnet release. A sturdy user boom for some of those apps can be a terrific catalyst for the charge. For instance, wildly famous dApps like AAVE and Uniswap have helped to help the Ethereum community within the beyond few years.