In the context of the cryptocurrency market experiencing a strong correction phase, the price of Pi Coin has recently recorded a significant decline, raising concerns among the global community of over 50 million users. Amid worries about the project's future, Dr. Nicolas Kokkalis, co-founder of Pi Network, has made official statements to clarify the situation and reinforce community confidence.
According to Kokkalis, the decline of Pi is not an isolated negative sign, but part of the overall correction trend in the global crypto market. Major cryptocurrencies like BTC, ETH, and SOL are also experiencing deep drops, affecting investor sentiment and pulling down the prices of many smaller tokens, including Pi.
However, unlike listed and publicly traded projects, Pi Coin is still operating in a closed Mainnet phase – meaning it has not yet been traded on major exchanges and does not yet reflect its true market value. According to Kokkalis, this means that price factors have not yet fully demonstrated the potential that Pi Network is building.
Despite the price drop, Pi Network continues to expand its ecosystem at a stable pace, aiming to create truly useful Decentralized Applications (DApps) for the community. Multiple development projects within the Pi ecosystem are currently being tested, with the goal of bringing blockchain technology closer to ordinary users.
Additionally, he noted that the platform still maintains one of the largest user communities in the Web3 field, with tens of millions of active accounts and high engagement levels. This is seen as a solid foundation for Pi Network to break through when entering the Open Mainnet phase – the moment when Pi can be officially listed and traded in the open market.
Dr. Kokkalis stated that the current fluctuations are temporary and do not represent the core value of the project. He emphasized that the true value of Pi Coin will only be clearly demonstrated when the ecosystem becomes more complete and can access a broader market through exchange listing.
