Pi’s Liquidity Crisis Deepens While GCV Believers Face Heavy Losses

In early 2026, whereas the altcoin market capitalization (TOTAL3) rebounded from $825 billion to over $880 billion, marking a achieve of greater than 7%, Pi Network (PI) remained stagnant across the $0.2 degree. Exchange information has not proven any clear indicators of a return to demand.

Meanwhile, the Pi Network group has reported rising losses amongst buyers who pursued expectations tied to the GCV value.

Pi Network’s Weekly Trading Volume Hits Record Lows

Data from CoinGecko exhibits that Pi’s buying and selling quantity has fallen to report lows. The weekly quantity dropped sharply under $100 million, with every day averages of around $10 million.

By comparability, in March final 12 months, Pi recorded greater than $10 billion in weekly buying and selling quantity. The present figures signify a decline of over 99%.

The collapse in buying and selling quantity displays weakening demand for Pi on exchanges. Thin liquidity will increase the chance of huge value swings, even with comparatively small shopping for or promoting strain.

If costs rise beneath such low liquidity circumstances, the transfer is unlikely to be sustainable. If costs fall, the identical circumstances make Pi susceptible to sharp sell-offs.

Additionally, Piscan information point out that Pi reserves on centralized exchanges (CEXs) haven’t declined. Instead, they continue to be elevated.

On January 9, greater than 1.3 million Pi tokens have been transferred to exchanges, pushing complete alternate reserves to 427 million Pi. Higher alternate balances increase selling pressure. Combined with skinny liquidity, this dynamic considerably raises the chance of additional value declines.

Pioneers Suffer Losses After Trusting the GCV Theory

One of Pi Network’s most distinctive options is its two-value system. Holders acknowledge each the market value on exchanges and the GCV (Global Consensus Value), a theoretical valuation.

Supporters promote GCV as a set value of $314,159 per Pi, derived from the mathematical fixed Pi (π). They encourage customers and retailers to just accept Pi at this valuation.

However, current group reviews point out that a number of buyers have suffered extreme losses by following the GCV narrative, whereas Pi’s market value has fallen greater than 90% from its peak.

The Pi-focused information account r/PiNetwork highlighted at the very least two such circumstances.

One instance includes Taufan Kurniawan, who invested 50 million Indonesian rupiah (roughly $3,200) to open a store serving Pi customers. He accepted funds primarily based on the GCV value and anticipated substantial earnings. When the market value collapsed, the enterprise failed, leaving him with heavy losses.

“Merchants utilizing GCV shall be bankrupted by their incapacity to get better funds within the ecosystem. It’s already taking place,” r/PiNetwork commented.

Pi’s extended value decline and weak liquidity are forcing Pioneers to make a difficult choice: proceed holding and pursuing Pi’s long-term imaginative and prescient, or abandon the mission altogether.

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