Pi Network digital currency is sold off, many investors are disillusioned

On February 20, 2025, the Pi Network cryptocurrency officially launched its network and was listed on the Hong Kong exchange, creating a big wave of interest in the cryptocurrency investment community. However, immediately after this event, the Pi currency recorded a big shock when prices continuously plummeted, causing many individual investors to be disappointed and worried.

Mr. Le Hoang Trung (35 years old, owner of a business store in Hanoi) has known about Pi Network coins since 2019 and holds a large amount of this currency. Mr. Trung said: Before listing, Pi was spontaneously traded on the black market at high prices, at times even reaching the expectation of hundreds, thousands of USD per dong. But the reality of the crash happened right after it was officially listed, the price of Pi plummeted from the original level of more than 2 USD to below 1 USD in less than 24 hours".

"Many of us have high expectations, once Pi is on the market, the price will skyrocket, bringing big profits. But in reality, prices have decreased sharply due to great selling pressure, especially from non-professional investors or those who have participated in excavation for free before," Mr. Trung shared.

Another " part-time player", Mr. Nguyen Minh Hung (38 years old, Hanoi) is in a similar situation. Mr. Hung participated in Pi Network from the early days but mainly with the mentality of participating for fun, considering digging Pi as "buying lottery tickets". However, he could not help but feel disappointed when the price of Pi dropped rapidly.

Mr. Hung said that the situation of Pi prices plummeting is not too surprising because any newly listed cryptocurrency often has a period of high prices, then falls sharply due to profit-taking pressure from long-term holders. "Pi Network has a large community but does not have a sustainable value foundation, so the price drop is understandable. Perhaps prices will fall sharply, even to a very low level before they can stabilize again," Mr. Hung predicted.

Commenting on the future, Mr. Hung said it will be very difficult for Pi Network prices to recover quickly after this sharp decrease. "The market needs time to stabilize, and only when serious investors stay will Pi have the opportunity to grow again. But I think the previous expected price (hundreds of USD per Pi) was unrealistic," Mr. Hung expressed.

Meanwhile, Mr. Pham Quang Thang (32 years old, cryptocurrency investor in Bac Ninh) expressed great disappointment. Mr. Thang shared: "Before Pi started online, I thought this was a great opportunity to change my life, so I bought many pi's from others. But now, the money I invest in is suffering a heavy loss due to the price decreasing too quickly. Now, I really regret not having researched more carefully but chasing the crowd."

According to investors, selling pressure is the biggest reason for the sudden drop in Pi Network prices. Many people who own Pi from the beginning did not have to lose investment capital but only spent a little time exploiting it for free, so when this currency was officially traded, they immediately sold it to earn the money back as quickly as possible. This situation caused the supply of Pi to spike, pushing prices to the bottom.

In addition to the sell-off factor, the fact that digital currency in general and Pi Network copper have not been officially recognized legally in Vietnam and many other countries also makes individual investors concerned about the safety of participating in this market. Pi transactions are mainly in the form of hand-to-hand, "black market" and there is no protection mechanism when disputes arise. This has further increased confusion, causing retail investors to decide to quickly withdraw from the market to avoid greater losses.