At the beginning of 2026, the total value of altcoins increased by over 7%, rising from $825 billion to over $880 billion. However, Pi Network (PI) didn’t see this growth, remaining around $0.20, and trading data suggests there hasn’t been a renewed interest in buying it.
Pi Network users are reporting that some investors are losing money, likely due to expectations about the future price of the GCV token.
Pi Network’s Weekly Trading Volume Hits Record Lows
As a crypto investor, I’ve been watching Pi Network, and the recent trading numbers are concerning. CoinGecko’s data shows trading volume has plummeted to all-time lows. Last week’s volume was way down, falling below $100 million, and we’re now seeing daily averages of around just $10 million. It’s definitely a trend I’m keeping a close eye on.
Last March, Pi saw over $10 billion in trades each week. Now, trading volume has dropped by more than 99%.
The drop in trading activity shows that fewer people are buying Pi on exchanges. When trading volume is low, even small purchases or sales can cause significant price changes, making the price more unstable.
When there’s very little trading activity, price increases are unlikely to last. Conversely, if prices drop, Pi is at risk of sudden and significant selling pressure.
Pi network data shows that the amount of Pi held on central exchanges hasn’t gone down, and is still relatively high.
On January 9th, over 1.3 million Pi tokens were sent to cryptocurrency exchanges, bringing the total held by exchanges to 427 million. This increase in supply on exchanges could lead to more people selling, and with limited buying interest, it raises the chance of the price dropping further.
Pioneers Suffer Losses After Trusting the GCV Theory
As a researcher following Pi Network, I’ve noticed something unique about how it’s valued. Unlike most cryptocurrencies, Pi has two different values associated with it. There’s the typical market price you see on exchanges, but also something called the GCV, or Global Consensus Value, which represents a theoretically calculated price based on the network’s consensus.
Those backing GCV suggest a set price of $314,159 for each Pi, based on the value of the mathematical constant π. They want users and businesses to start using Pi with this price in mind.
Recently, many people in the community have reported significant financial losses after investing based on information surrounding GCV. At the same time, Pi’s value has dropped by over 90% from its highest point.
The Pi-focused news account r/PiNetwork highlighted at least two such cases.
Taufan Kurniawan experienced a financial loss after investing around $3,200 (50 million Indonesian rupiah) in a business catering to Pi users. He based his business model on the expected value of Pi, known as GCV, and anticipated significant earnings. Unfortunately, when the price of Pi dropped sharply, his business failed, resulting in considerable losses.
Users on the Pi Network subreddit are reporting that businesses accepting Pi as payment are losing money because they can’t convert it back into usable funds, and some are already going out of business.
Because Pi’s value has been steadily dropping and fewer people are trading it, the team behind the project, Pioneers, are facing a tough decision: should they stick with their original goals for Pi and hope it improves, or should they stop working on it completely?
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2026-01-09 13:31