Dr. Nicolas Kokkalis, founder of Pi Network, shared his insights on the recent price drop of Pi Coin, linking it to the overall market correction in cryptocurrencies.
Reasons for Price Decline
According to Dr. Kokkalis, the primary reason for the dip in Pi Coin's price is the broader correction in the cryptocurrency market that is affecting all major coins. He pointed out that giants like Bitcoin, Ethereum, and Solana have recently faced significant drops, which negatively impacted the overall market sentiment, affecting projects like Pi Network.
Unique Aspects of Pi Network
Dr. Kokkalis highlighted several unique aspects that differentiate the situation around Pi Network. Firstly, Pi is still operating within its enclosed mainnet phase, meaning its full potential and liquidity have yet to be realized in open markets. Secondly, despite the price decline, real utility-based growth is actively occurring within the ecosystem. The project has over 50 million devoted users, and genuine applications continue to be developed within the Pi ecosystem.
Outlook and Conclusions
Dr. Kokkalis firmly stated that the current situation is 'a temporary phase — not a crash.' He reiterated that the 'real market value' will be discovered once the open mainnet is unlocked and the coin is listed on major exchanges. He urged the community to remain resilient, stating, 'Accumulation phase never looks like victory.' This optimistic view reinforces the importance of long-term potential and the foundational work underway.
Dr. Kokkalis's comments provide hope for the future of Pi Network and redirect attention to the project's long-term outlook despite short-term price volatility.
