Online hype can only get a crypto project so far, as market participants increasingly expect the tokens they buy to have at least some utility and interesting use cases. Even modern meme coins are being held to this standard \u2013 and crypto communities naturally also demand that projects keep them in the loop about key information and potential changes.<\/p>\n
This week, the fast-paced collapse of the Pi Network ($PI) crypto price has demonstrated the consequences of suboptimal project management. At the time of writing, PI is down almost 80% from the all-time high it set within its first 5 minutes post-launch \u2013 and crypto investors are already taking note of this high-profile incident, rushing instead to put their funds into a pair of top-trending ICOs.<\/p>\n
Solaxy ($SOLX)<\/a> and Best Wallet Token ($BEST)<\/a> both have their own unique use cases, and are working hard to keep their followers updated as their presales continue. Keep reading to find out why SOLX and BEST have already raised over $22 million and $10 million respectively, and what we can learn from the decline of the PI cryptocurrency.<\/p>\n This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n The story of Pi Network and its native PI crypto has been around six years in the making, as the Layer 1 blockchain has been in development (including an \u201cenclosed network\u201d stage) since 2019. Featuring a mining mechanism that allowed network supporters to mine PI tokens using their mobile phones, the Pi Network quickly attracted attention from crypto fans disillusioned by the high mining-related barriers to entry presented by other networks like Bitcoin.<\/p>\n Key project features range from the \u201cPi Browser\u201d to a dedicated ecosystem wallet and integrations aimed at the online commerce sector, as well as a KYC process intended to keep network accounts limited to one per user. The Pi Network\u2019s reputation also benefited from events like PiFest, where the project team demonstrated and showcased their network\u2019s capabilities.<\/p>\n After 6 years of mining, $Pi<\/a> had their TGE yesterday.<\/p>\n Currently 60-70% down since ATH.<\/p>\n One of the project that has largest user base, but no utility that is unique to onboard utility into web3.<\/p>\n How much profit did you make mining $Pi<\/a> ? pic.twitter.com\/xdjnMpdgde<\/a><\/p>\n \u2014 Crypto King\ud83d\udc51\ud83d\udc8e.eth.sol (@cryptosanthoshK) February 21, 2025<\/a><\/p><\/blockquote>\n
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\nPi Network ($PI) Falls 80% After Launch Day Difficulties<\/h2>\n
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