Pi Network’s Global Consensus Value (GCV) movement is pushing ahead with plans for its next major event, even as Pi Coin’s (PI) price slumps lower.
The movement’s founder has announced the 3rd Global GCV Conference, presenting it as a turning point for uniting the community and pushing toward the long-awaited Open Mainnet launch.
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GCV Conference Sparks Momentum for Pi Network’s Open Mainnet Launch
Doris Yin Pi, founder of the Global GCV Movement, announced on X (formerly Twitter) that the conference will take place on October 19. She framed the gathering as a movement to signal unity and strength to the Pi Core Team (PCT) and institutional stakeholders.
Yin also mentioned receiving a confidential report from an independent auditor confirming progress on the Pi Network Open Mainnet code. Still, she suggested that its actual launch depends on Pioneers proving they are united, educated, and committed to long-term value rather than quick fiat conversions.
As BeInCrypto previously reported, the GCV community advocates for valuing each PI token at $314,159, a figure symbolically tied to the mathematical constant π. This segment of the Pioneer community has promoted this valuation as an ideal benchmark, bypassing current market prices.
However, this ideology has deepened divisions within the PI community. Critics argue that GCV’s lofty claims mislead users and undermine the project’s credibility.
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Dr. Altcoin has called on Pi Network’s development team to address and counteract what he describes as ‘sabotage, misinformation, and deliberate disinformation’ from the GCV faction. He contends that these assertions demoralize participants and impede legitimate market development.
Pi Coin’s Price Struggles Continue
This comes as PI continues to face market challenges. Since the initial hype faded, Pi Coin’s price performance has been quite underwhelming.
Despite momentum in the broader altcoin market, Pi Network’s token failed to benefit from it, remaining disconnected from wider market upswings. Still, PI took a hit as the market dipped in September.
The struggles deepened on September 22, when the altcoin’s value dropped by 47.8%, hitting a fresh all-time low. Even after Pi Network’s co-founders, Nicolas Kokkalis and Chengdiao Fan, reaffirmed their long-term vision at a Seoul community event, this did not translate into price recovery.
Pi Coin (PI) Price Performance. Source: BeInCrypto MarketsBeInCrypto Markets data showed that PI’s value has declined 30.6% over the past month. At the time of writing, the coin was trading at $0.26, reflecting a 0.54% decline over the past 24 hours.
Source: https://beincrypto.com/pi-network-gcv-conference-open-mainnet/
