Pi Network liquidity collapses as trading volume falls over 99%

Beincrypto reports that in early 2026 Pi Network’s market price remained stagnant around $0.2 even as the broader altcoin market capitalization recovered from $825 billion to over $880 billion. Exchange data show no clear return to demand: CoinGecko data cited weekly Pi trading volume falling sharply below $100 million, with daily averages near $10 million, a decline of more than 99% from March last year when weekly volume exceeded $10 billion.

Piscan data indicate Pi reserves on centralized exchanges remain elevated; on January 9 more than 1.3 million Pi were transferred to exchanges, pushing total exchange reserves to 427 million Pi. The collapse in trading volume reflects weakening demand on exchanges, and thin liquidity increases the risk of large price swings—rises are unlikely to be sustainable and falls could trigger sharp sell-offs.

The community has reported growing losses among investors who followed the GCV (Global Consensus Value) theory, which promotes a fixed price of $314,159 per Pi based on the mathematical constant π. The Pi-focused account r/PiNetwork highlighted cases including Taufan Kurniawan, who invested 50 million Indonesian rupiah (about $3,200) to open a shop accepting payments at the GCV price; when the market price collapsed the business failed and left him with heavy losses, and r/PiNetwork commented, "Merchants using GCV will be bankrupted by their inability to recover funds in the ecosystem.

Key Topics

Crypto, Pi Network, Pi Token, Global Consensus Value, Coingecko, Piscan