Investors are turning their attention to new altcoins such as Solaxy, Bitcoin Bull, and MIND of Pepe as Pi Network fails to spark excitement. These up-and-coming crypto projects, on the other hand, are hosting viral presales that have already raised millions of dollars.

Why Pi is slowing down

Transparency is key to community-building in the crypto market. A strong community is vital for the long-term growth of any crypto project, and the importance of maintaining trust cannot be overstated. This is precisely where Pi Network has been facing challenges.

The community has grown increasingly frustrated with the team over the locking and burning of billions of Pi coins. Concerns about potential market manipulation have likely deterred major exchanges from listing the token.
Pi Network all-time price performance, source: CoinMarketCap

For example, despite 86% of users votingin favour of a Binance listing, the token remains unlisted. The lack of support from centralised exchanges limits the token’s trading potential, further shaking investor confidence.

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It doesn’t help that industry leaders such as Bybit CEO Ben Zhou have openly criticised Pi Network, labelling it as a “scam” and raising concerns about its legitimacy.

The scheduled unlocking of Pi tokens has also deepened concerns, fuelling fears of price stability. Around 129.5 million tokens are expected to enter circulation monthly over the next year. Without

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