PI網絡目前是其一生中最艱難的時刻之一。

該項目於2019年由一群斯坦福大學的學生啟動，在加密貨幣領域迅速臭名昭著

The Pi Network is currently living one of the hardest moments of its life. Launched in 2019 by a group of Stanford PhD students, the project quickly gained notoriety in the crypto space due to its innovative approach to crypto mining, allowing miners to use everyday technology like tablets and smartphones to mine the $PI token.

PI網絡目前是其一生中最艱難的時刻之一。該項目於2019年由一群斯坦福大學的博士生推出，由於其創新的加密礦山採礦方法，該項目在加密貨幣領域迅速臭名昭著，使礦工可以使用諸如平板電腦和智能手機的日常技術來開採$ pi token。

The project quickly gathered a large community of “Pioneers’, who joined the Pì Network looking for an early stake in what was marketed as a revolutionary, mobile-first cryptocurrency. In 2021, the Pi Network began an enclosed mainnet phase, restricting transactions within its ecosystem while developers worked on security, infrastructure, and KYC verification processes. This period allowed early adopters to accumulate PI tokens, but without external exchange listings, the asset remained largely speculative.

該項目迅速聚集了一個大型的“先驅者”社區，他們加入了Pìnetwork，以尋求早期的股份，作為一種革命性的移動，移動優先的加密貨幣。 2021年，PI網絡開始了一個封閉的Mainnet階段，限制了其生態系統中的交易，同時又在開發者中逐步促進了這種定期，以促進了這種定期，並促進了此期間，並促進了此期間，並促進了這種定期，並限制了這種定期，並限制了這種定期，並限制了Kigratifie and kycerivie and kycerivie and。沒有外部交換清單，資產基本上仍然是投機性的。

After years of buildup, the $PI token officially launched its open mainnet on February 20, 2025—allowing unrestricted transactions and exchange listings for its native token $PI. The altcoin quickly gained traction, reaching an all-time high of $2.92 only 6 days after, according to CoinMarketCap.

經過多年的積累，Pi Token於2025年2月20日正式推出了其Open Mainnet，並允許其本地Token $ PI的無限制交易和交換清單。根據CoinMarketCap的數據，Altcoin迅速獲得了吸引力，僅6天后才達到2.92美元。

However, this initial excitement would be short-lived. Shortly thereafter, the token succumbed to selling pressure, losing a substantial amount of its value.

但是，這種最初的興奮將是短暫的。此後不久，代幣屈服於銷售壓力，失去了大量價值。

BitMart Suspends $PI Trading

甚至

By March, the token had already been listed on several exchanges, quickly rising through the ranks of the largest cryptocurrencies by market capitalization.

到3月，該令牌已經在幾次交易所上列出，通過市值迅速通過最大的加密貨幣的行列迅速上升。

The first sign that the Pi Network was in for a tough time was when the cryptocurrency exchange BitMart unexpectedly suspended $PI trading on March 27, 2025. Later, it was revealed that the project failed to comply with KYB (Know Your Business) verification for a 1:1 token swap, leading the platform to essentially delist the token.

PI網絡在艱難時期的第一個跡像是，加密貨幣交易所BITMART意外地暫停了$ PI的交易，於2025年3月27日進行了交易。後來，該項目未能遵守KYB（知道您的業務）驗證1：1的標記交換，使平臺本質上使人脫穎而出。

At the time, Bitmart attempted to stop the bleeding of $PI tokens leaving the platform by offering a 30% annual percentage yield on $PI. But nonetheless, this development triggered panic selling within the community, causing the altcoin to enter “freefall” mode for the entirety of the month.

當時，比特瑪（Bitmart）試圖通過提供$ PI的年度百分比收益率30％，以阻止$ pi代幣的出血。但是，儘管如此，這一發展引發了社區內的恐慌銷售，導致山寨幣在整個月份進入“自由落體”模式。

Token Unlocks Flood PI’s Supply

令牌解鎖洪水Pi的供應

Adding to the issue, two pre-scheduled token unlocks released millions of $PI tokens into the market, amid a major confidence crisis for the Network. A significant token unlock released 108.9 million $PI tokens into circulation, saturating the market and amplifying selling pressure.

此外，在該網絡的重大信心危機中，兩個預先安排的代幣解鎖將數百萬美元的pi代幣釋放到了市場。一個大量的令牌解鎖釋放了1.089億美元的PI代幣流通，使市場飽和並增加了銷售壓力。

Only eleven days later, the developers issued another unlock, this time of 5.6 million $PI tokens. By the end of March, $PI traded at $0.65, down by a whopping 71% over the month.

僅十一天后，開發人員發出了另一次解鎖，這次是560萬美元的PI代幣。到3月底，$ PI的交易價格為0.65美元，在本月份下降了71％。

Signs of Recovery: Can Pi Network Rebuild Trust?

恢復的跡象：PI網絡可以重建信任嗎？

Things started to look a little better by April for $PI holders. In this month, the development team released a token migration roadmap, which outlines a three-phase migration to the open mainnet—covering base mining rewards, referral bonuses, and eventually ongoing migrations.

到4月，對於$ PI持有人來說，情況開始好一些。在本月，開發團隊發布了一個令牌遷移路線圖，該路線圖概述了向開放式Mainnet進行的三相遷移 - 覆蓋了基本的採礦獎勵，推薦獎金以及最終持續的遷移。

While the roadmap was still the target of criticism for its lack of clear, strict, and concrete timeliness—the token appeared to finally have reached a consolidation period. The Bitmart debacle appeared to be heading to a conclusion as traders gradually resumed full trading activity, and liquidity began to return.

儘管路線圖仍然是批評的目標，因為它缺乏明確，嚴格和具體的及時性，但令牌似乎終於達到了整合時期。隨著交易員逐漸恢復全面的交易活動，流動性開始返回，Bitmart崩潰似乎正在得出一個結論。

Despite this, many question why the Pi Network team allowed such a meltdown over a relatively simple KYB process. The issue worsened when Banxa, a crypto exchange that had purchased $19 million in $PI tokens on April 7, suspended PI transactions due to the team’s failure to meet its KYB requirements on April 27.

儘管如此，許多人質疑為什麼PI網絡團隊在相對簡單的KYB過程中允許如此崩潰。當Crypto Exchange在4月7日購買了1900萬美元的PI代幣時，該問題惡化了，由於該團隊未能在4月27日滿足其KYB要求，因此暫停了PI交易。

X crypto analyst Dr. Altcoin suggests that Pi Network has been repurchasing tokens from exchanges in an attempt to stop the bleeding in its currency value.

X Crypto分析師Altcoin博士建議，PI網絡一直從交易所回購代幣，以試圖阻止其貨幣價值出血。

If true, this strategy turned out to be successful as $PI behaved a lot less volatile in April than it did in the previous month. Today, April 29, the token is trading at $0.57, down by around 5% over the last 24 hours.

如果是真的，那麼這種策略就成功了，因為$ PI在四月份的動盪要比上個月的動盪要少得多。今天，4月29日，令牌的交易價格為0.57美元，在過去24小時內下降了約5％。

After nearly a month of uncertainty, Bitmart resumed PI trading on April 25. Meanwhile, initial reports suggest Banxa will resume PI transactions this week.

經過近一個月的不確定性，Bitmart於4月25日恢復了PI交易。與此同時，初步報告表明Banxa將在本週恢復PI交易。

Pi Network’s leadership is set to tackle these concerns at Consensus 2025, happening May 14–16 in Toronto, where Nicolas Kokkalis is scheduled to speak. Will this be a turning point for Pi? Stay tuned—bookmark us, we’ll be covering it all!

PI Network的領導層將在5月14日至16日在多倫多的2025年共識達成這些問題，尼古拉斯·科卡利斯（Nicolas Kokkalis）計劃發言。這將是PI的轉折點嗎？請繼續關注 - 標記我們，我們將介紹所有這些！