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.
SponsoredGCV 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.
“We are here not just to hold another event, but to ignite a movement, to send a signal across the world, and to prove that pioneers are ready for the full Open Mainnet of Pi Network,” she wrote.
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.
“When institutions and the Core Team see pioneers united and educated, they gain confidence in our long-term support. And that will remove their biggest fear: the mass, short-term conversion of Pi into fiat. If pioneers behave short-sightedly, the Open Mainnet (OM) date cannot be determined. But if pioneers rise together, OM becomes unstoppable,” the founder added.
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.
SponsoredDr. 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.
“These are some of the most harmful campaigns conducted by the GCV community. The Pi Core Team has an utmost responsibility to strongly condemn these false narratives and, if necessary, take legal action against the leaders of this movement before Pi suffers irreversible damage and its value collapses to unprecedented levels,” he stated.
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.
BeInCrypto 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.
