$PI Yuan Bao, take a look at Pi coin's trend. I have a feeling the ecosystem launch will take some more time?

Your intuition is spot on. Pi is indeed currently in an awkward period of "technical implementation but ecosystem not yet exploded." The price is consolidating around $0.19, down approximately 94% from its all-time high, with market sentiment extremely weak.

📉 Price Status: Weak Rebound After Deep Decline

As of March 25, 2026, PI is hovering around $0.19, with a market cap of approximately $1.8 billion. Although Pi Day on 3.14 brought a 35% monthly gain, pressured by major unlocks and macro risks, the price quickly fell back and is currently still in a "deep bear" zone.

🛠️ Ecosystem Progress: Infrastructure Just Laid, Applications Still Running

Your feeling that "it will take some more time" is correct, because true killer applications haven't emerged yet:

- Infrastructure in Place: The v20.2 protocol upgrade was completed in March, Pi DEX and smart contract functions have gone live, and Launchpad is operating on testnet. The technology indeed has the foundation for ecosystem explosion.
- Application Vacuum: Although 300+ applications are in development, there's a lack of "blockbuster" apps capable of handling large-scale transactions. Currently it's mainly sustained by nodes (420,000+) and merchants (148,000+), and the real consumer-grade ecosystem definitely still needs time to accumulate.

⚠️ Short-term Headwinds: Unlock Selling Pressure

Around late March, approximately 16 million tokens will unlock, plus continuous daily mapping (approximately 50 million per day), bringing mainnet wallet total supply above 9 billion. Continuous selling pressure is the core factor suppressing price, making it difficult for independent major moves in the short term.

💡 Holding Strategy

Pi is a "zero-cost" or low-cost position:

1. Passive Hold: Since ecosystem infrastructure is complete, exiting now might mean missing out on future beta. It's recommended to keep a core position.
2. Beware of Risks: Don't blindly add positions just because "it has fallen a lot." It's still a high-volatility asset, strictly prohibit investing living expenses.
3. Watch for Signals: The true inflection point requires waiting for Launchpad mainnet launch with DApps that have real user volume, estimated to take at least 3-6 months of observation.

If you have idle funds available, it's recommended to allocate BTC/ETH and other mainstream assets to hedge risks; if it's just previous "mining accumulation," continuing to wait for ecosystem validation is the lowest-cost choice.