Pi Network seems to be losing ground as Pi Coin price continues to face strong selling pressure, dropping another 4% and slipping under $0.70. Furthermore, the PI trading activity in the ecosystem is also dropping, showing that the investors’ euphoria is fading away quickly. Also, the PI token unlocks happening over the past week and so have led to a negative sentiment.
Pi Network Faces Backlash Despite PiFest Announcement
Earlier today, the Pi Core team announced that the inaugural PiFest on the Open Network saw record participation, with over 125,000 registered sellers—including more than 58,000 active sellers—and 1.8 million Pioneers utilizing Map of Pi, while highlighting Pi’s real-world utility worldwide.
However, the community doesn’t seem to be pleased by this. Commenting on the reality of the PiFest, Dr. Altcoin noted: “Since the PiFest started, Pi trading activity in the Eco-system has been at its lowest. The only trade was selling Pi for Cash”. While slamming t
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