Pi marked its first Open Network anniversary with high on‑chain activity — 16.2M mainnet migrations, ~17.7M KYC completions, 300+ mainnet apps, 421K active nodes, 148K sellers, 2.1M local transactors and 111M Pi staked — while PI’s price fell into bear territory. Renewed mainnet migration sent roughly 200 million Pi to exchanges and foundation‑linked wallets showed sizable outflows, increasing perceived selling pressure. PI dropped >6% over a week, another ~4% on Monday to trade near its record low (~$0.13), sits below its 50‑day EMA (~$0.1758), and a daily close below $0.1533 could open a return to $0.13.

Article reports concrete on‑chain and market facts: major on‑chain metrics and staking figures; ~200M Pi moved to exchanges and sizable outflows from foundation‑linked wallets; PI lost >6% in a week plus ~4% on Monday, trading near $0.13 and below the 50‑day EMA (~$0.1758); a daily close below $0.1533 could open the path to $0.13.