Even as PI Coin (PI) prices drop, the PI Network’s Global Consensus Value (GCV) movement is driving planning for the next major event:
The founders of the movement announced the third Global GCV Conference, bringing the community together and presenting it as a turning point towards the launch of the much-anticipated open mainnet.
GCV conferences spark momentum for launching open mainnets of PI networks
Doris Yin Pi, founder of the Global GCV Movement, announced that the meeting will be held on X (formerly Twitter) on October 19th.
“We are here to not only host another event, but to ignite the movement, send signals around the world, and prove that Pioneers are ready for the full mainnet of the PI network,” she writes.
Yin also mentioned receiving confidential reports from independent auditors checking the progress of the PI Network Open Mainnet Code. Still, she suggested that the actual launch would depend on pioneers who prove they are integrated, educated and committed to long-term value rather than a quick Fiat transformation.
“When the institutions and core teams are united and educated, they are confident in our long-term support. And it removes their biggest fear: a massive short-term shift to Pi’s Fiat. Pioneers behave in myopia.
As previously reported by Beincrypto, the GCV community advocates for a valuation of each Pi token at $314,159. This is a number symbolically linked to the mathematical constant π. This segment of the Pioneer community is bypassing current market prices and promoting this assessment as an ideal benchmark.
However, this ideology deepens the division within the PI community. Critics argue that GCV’s lofty claims mislead users and undermine the credibility of the project.
Dr. Altcoin asks PI Network development teams to address and address what GCV factions describe as “absorbing, misinformation, intentional disinformation.” He argues that these claims lower participants’ morale and hinder legal market development.
“These are some of the most harmful campaigns conducted by the GCV community. The PI core team is strongly denounced these false stories and, if necessary, take legal action against the leaders of this movement before PI suffers irreversible damage and their value collapses to an unprecedented level,” he said.
The price struggle for Pi Coin continues
This is because PI continues to face market challenges. Since the initial hype fads faded, the price performance of the Pi Coin has been overwhelming.
Despite momentum in the wider Altcoin market, the tokens of the PI network were unable to profit from it and remained disconnected from the wider market rise. Still, PI was a hit in September as the market fell.
The struggle deepened on September 22nd, with Altcoin dropping by 47.8%, reaching a fresh low. Even after fans of Pi Network co-founders Nicolas Kokkalis and Chengdiao, they reaffirmed their long-term vision at the Seoul Community Event, but this did not lead to a price recovery.
Performance at PI Coin (PI) prices. Source: Beincrypto Markets
Data from Beincrypto Markets showed that the value of Pi has declined by 30.6% over the past month. At the time of writing, the coins are trading at $0.26, reflecting a 0.54% decline over the past 24 hours.
Post-PI network GCV sets up a big date, but can I move the needle while PI slide? It first appeared in Beincrypto.
