It's interesting to follow what has happened since Pi Network launched its open network last year. In recent weeks, there has been a very active period with protocol updates, a new token design framework, and responses from founders Nicolas Kokkalis and Chengdiao Fan to community questions.

On the price side, PI is currently trading around $0.18. The fact that it closed last month at $0.17 and has now risen slightly helps explain market sentiment. Interestingly, according to CoinMarketCap, PI is the second strongest crypto asset on the buy side — only behind Kaspa. This has surprised some observers; there are also those questioning its utility.

On the technical side, a few things are worth noting. Token releases appear to be quite aggressive — in early March, a record day planned for releasing 21 million coins. At the same time, the amount of PI held on centralized exchanges has risen to approximately 435 million tokens. This raises concerns among some investors about potential selling pressure. A correction in the short term also seems possible, some analysts are indicating this.