Pi Network Price Today March 20, 2025: Increasing Price Downward Pressure
Pi Network price today 3/20/2025 continues to decrease by 0.9% compared to yesterday, currently at 1.14 USD. Increasing downward pressure causes a wave of sell-offs
Pi Network Price Today
Pi price on OKX exchange on March 20, 2025 is fluctuating around the price from 1.11 USD to 1.21 USD (equivalent to 28,220 VND to 30,920 VND). Thus, at the time of writing, Pi price on OKX exchange decreased by 0.9% compared to yesterday, reaching 29,070 VND
Pi Coin has not been above $2 since early March and has lost nearly 40% of its value in just two weeks. While it still has a following on social media, many investors appear to be dumping their holdings, adding to the downward pressure.
On the X platform, many believe that Pi Network is showing worrying signs, which may be the cause of the sell-off. Rumors are circulating that the three largest accounts hold 2.69% of the total supply, while the ten largest accounts also control the same proportion. This raises concerns about the concentration of power in the hands of a few individuals.
Controversy over Pi Network's funding
Recently, the Pi Network community continued to question the transparency of the project's funding. An investigation by a Pi Network member showed that SocialChain Inc., the company behind Pi, had received investments from 137 Ventures, Ulu Ventures, and Designer Fund.
However, it is worth noting that two of these three companies do not list Pi Network in their official portfolios. Additionally, there is no public information about how much money they have invested in the project, although other investments are clearly public.
Why is the Pi Core team keeping this information secret? If Pi wants to grow sustainably, they need to be more transparent about their finances and strategic partners.
A social media post asked:
Previously, former Pi Network co-founder Vince McPhillip filed a lawsuit against the project on multiple allegations, including wrongful dismissal, infliction of emotional distress, and breach of fiduciary duty.
Notably, the lawsuit reveals that Pi Network previously raised capital by selling SAFE (Simple Agreement for Future Equity) financial instruments.
In September 2019, Pi Network issued SAFE at a valuation of $20 million, raising $500,000.
In February 2020, the project continued to raise capital at the same valuation, raising an additional 300,000 USD.
Despite these fundraising rounds, the lack of financial transparency remains a concern for the Pi Network community. Users are increasingly demanding that the development team be more transparent if they want to maintain the trust of the community.
