# Pi

#PI In 2026, the market will bid farewell to the "macro story-driven rise and fall" model, becoming more like mature financial markets—capital concentrated in core scenarios (such as BTC/ETH ETFs, real fund usage in DeFi), with pricing determined by trading mechanisms like positions, liquidity, and risk control.#PI #BTC #PI

#PI #BTC #ETH
Good morning! Walking on the cobblestone bridge, the breeze is filled with the freshness of the morning, and worries are blown away.

#PI $Pi has been around for a while, and to be honest, various warning signs have been accumulating continuously. Years of hype, constant promises of "coming soon," but there has never been a clear and sustainable use case to support people's valuation expectations. Token unlocks, unclear supply dynamics, and a community driven more by hope than fundamentals—these combinations have never been a good omen. User adoption feels forced, liquidity is insufficient, and the genuine demand outside the ecosystem can at best be considered questionable. One day, all these excuses will fail, and when that