The recently concluded first PiFest demonstrated the project's growing community strength, despite the ongoing decline in PI token's value.
First PiFest
The Pi Network community organized its first major event, PiFest, in celebration of Pi Day. The festival brought together Pioneers and local merchants, highlighting the growing practical utility of the Pi network.
Real Usefulness of Pi
According to the team, PiFest showcased an increasing number of participants, including 125,000 registered sellers and more than 1.8 million users of the Map of Pi. Participants engaged in transactions for goods and services using Pi, reflecting the expansion of the cryptocurrency's use cases.
PI's Decline
Despite the successful PiFest, the PI token's price continues to fall. It dropped by 6% in the past 24 hours, going below $0.7, losing 78% of its value since reaching an all-time high on February 26.
Although PiFest marked a successful event for the project, the PI token's price still does not reflect this success, experiencing market pressure.
