Latest Updates on Pi Network for May 23

Pi Network has been making headlines with its strategic initiatives. Recently, it disclosed a $100 million initiative (held in PI and USD) to invest in startups and businesses that could boost PI’s progress and adoption. This initiative, Pi Network Ventures, aims to strengthen the ecosystem, incentivize high-quality integrations, and put network effects into action.

Adding to this, the number of PI tokens stored on cryptocurrency exchanges had reached a peak level of almost 400 million earlier this week, although it has since dropped to less than 310 million. Analysts remain optimistic about PI's future price performance, despite a 10% weekly decline and a 74% crash from the all-time high of almost $3 seen in late February.