Once hailed as the "people's myth" in the Crypto Assets field, Pi Network is now facing an unprecedented crisis. This project, which once had a market capitalization of 20 billion USD, has now fallen into chaos.

Recently, internal issues within the Pi Network have been continuously exposed, including conflicts among the founders, chaos in upper management, and a toxic work environment. The roots of these problems can be traced back to 2020, but they were only fully exposed to the public eye recently.

What is even more concerning is that, despite the serious issues the project has encountered, there are still quite a few users in the community immersed in unrealistic value expectations. Rumors suggest that the "global consensus value" of Pi coin is as high as $310,000; however, the reality is that mining rewards have significantly decreased, and it now takes two weeks to earn 1 Pi coin.

At the same time, the performance of Pi coin in the Crypto Assets market has also been disappointing. It has fallen out of the top 50 in market capitalization, with severely lacking liquidity. Although the project team is trying to turn things around by launching new features, user trust in the project is on the verge of collapse.

This series of events has sounded the alarm for us: in the world of Crypto Assets, over-reliance on marketing and packaging while neglecting substantive development is extremely dangerous. The case of Pi Network reminds us that any project whose ambitions far exceed its capabilities is ultimately difficult to escape the fate of failure.

For cryptocurrency investors and enthusiasts, this is undoubtedly a painful lesson. It emphasizes once again the importance of maintaining rationality and caution in this high-risk field. In the future, we should pay more attention to the technical foundation of projects, the strength of the team, and the actual application value, rather than being misled by flashy promises.