The 21% Plunge of Pi Coin: Did Consensus Fail to Lift It, Instead Causing Disagreement?

Just after the conclusion of the Consensus Conference, Pi Coin unexpectedly experienced a significant drop—a one-day decline of 21%, falling directly back to pre-liberation levels. The latest price is $0.68, which is over 63% lower than its historical high of $2.98, causing an uproar in the community.

Why did it crash?

The Consensus Conference was 'a quiet talk': Pi's CTO spoke highly of decentralization at the meeting, but there was no sign of a mainnet launch timeline, leading the market to vote against it.

Bitmain continues to ignore Pi: In February, the community voted 86% in favor of launching, but Bitmain responded: 'Let's wait and see.' The stance of major exchanges in the United States directly affects confidence.

The project has been delayed too long: Waiting from 2019 to 2025, and the mainnet is still 'in testing'? It's been 6 years; this is not Web3, it's web-gone.

This crash resembles the old coins like ENJ and Hydro from back in the day. After a moment of glory, they fell into silence.

Some say there's still hope, like getting VC, building an ecosystem, promoting DApps... but the problem is, the market doesn't have much time left.

Can Pi reboot consensus, or will it walk into the historical folder?

Follow Old He; for the next trend, I'll help you scout ahead.