TL;DR

Nicolas Kokkalis, co-founder of the popular yet controversial project, spoke at the 2025 Consensus conference in Toronto about topics ranging from blockchain adoption to decentralization to AI and, yes, PIs growing popularity and vocal community. However, the native token seems to have fallen victim to yet another buy the rumors, sell the news case following a fresh price plunge.

Why So Popular?

Despite its controversial history, which included years of delaying the actual network launch and token release, Pi Network has grown to be one of the most popular and talked-about projects in the cryptocurrency space. After all, it has been in existence, in some form, for roughly half a decade.

During the recent appearance at the 2025 Consensus conference in Toronto, Kokkalis was asked about this growing popularity, where it stems from, and if the community is vocal on Pi or decentralization in general.

The projects co-founder, who is also the head of technology, believes the main reason behind this popularity is the concept of value capture.

In the future, where more and more work is being done by agents and AI, its important to make sure that the value is not only captured by a few individuals or a few companies. It can be captured by a large number of people. And thats where blockchain and our projects can come [in]to play.

He added that Pi Networks popularity can continue rising if all projects within its ecosystem work toward capturing value for a larger number of people.

PI Dumps Hard

Just over a week ago, PIs price started to climb aggressively and it surged from $0.6 to $1.7 within days. This massive ascent transpired after the team behind the project hinted about a big announcement coming on May 14.

Once that was revealed, which turned out to be a $100 million fund designated for ecosystem investments, PI started to nose dive. Earlier today, it fell below $0.7 after another double-digit daily decline. As such, it has almost erased all gains registered from the hype-driven rally, which makes it another sell the news event.

PI Token Price. Source: CoinGecko