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- Pi Coin crashes 45% after $100M fund launch sparks massive sell-off and investor backlash.
- $5B wiped from Pi’s market cap as users react to sudden fund announcement and lack of real progress.
- Pi Network faces heat as promised DApps remain missing despite bold $100M startup investment move.
Pi Network’s $100 million venture fund announcement has caused a sharp reaction in the crypto market. As soon as the news was out, Pi Coin dropped by 45% from $1.5 to $0.88.
Due to the fall, the company lost nearly $5 billion in market capitalization. Investors’ increased selling led to a sharp increase in the volume of trading.
Startups involved in practical applications of Pi will receive support from Pi Network Ventures. The Pi Foundation owns ten percent of the total Pi tokens.
This step was taken not long after Pi Network started its Open Network phase. The new phase allows Pi to connect with various outside apps and systems.
The announcement led to criticism from the community rather than a positive result. Many believed it came at the wrong moment and did not solve the problems that the country still faced.
Despite years of development, many critics point out that the platform doesn’t have basic decentralized apps. Despite the project’s earlier promise, Pi Network still has no working DApps.
Community Reaction Turns Negative as Promises Remain Unfulfilled
Dr. Altcoin, a well-known cryptocurrency thinker, said the fund’s launch was a breach of faith with the original supporters. He noted that several main features are still not present.
Many people are having difficulties earning good amounts of Pi because the referral rewards are very low. Limited communication among the team has added to people’s frustration.
The Pioneer community, which is more than 70 million strong, wanted more clarity and positive results. Users are being ignored now; the main attention goes to outside developers.
Pi Network stressed that the fund is just part of its two-track strategy. Hackathons and open tools are used in the second track to help local development.
As prices have gone down, more criticism is coming, resulting in less trust in the project. People in the community want to see clear, dependable updates from the team.
The company hoped to increase Pi Network’s popularity by setting up a $100 million venture fund. As a result, the news prompted people to sell, which caused prices to go down. The team members are expected to honor previous promises and win users’ trust back.
Also Read: Abraxas Capital Buys $84.7M in ETH as Ethereum Outpaces Bitcoin Growth
