Pi Network: A Fallen Angel or Dark Horse in Disguise?
The Pi Network has had a tumultuous journey since its inception, with investors questioning whether it's a 'fallen angel' or an 'unexpected dark horse.' Despite launching its Open Mainnet in February 2025, the cryptocurrency lost nearly 90% of its value by January 2026.
After years of closed-network operations, Pi finally allowed external trading, which briefly sent the token to an all-time high of nearly $3. However, this surge was short-lived, and the price collapsed soon after.
The cryptocurrency's market capitalization has dwindled from its peak of nearly $20 billion to just over $1.3 billion, with its current value hovering around $0.09.
The Pi Network's supply continues to grow, with millions of coins being unlocked daily, and the lack of big exchanges on board, including Coinbase and Binance, has contributed to the cryptocurrency's struggles.