In the aftermath of the significant decline in the OM token's value, experts are advising the Pi Core Team to enhance transparency and exercise caution, particularly following Pi Network's switch to the full Open Mainnet phase.

The plunge in OM's price by over 90% within an hour, leading to a loss of more than $5.5 billion in market cap, has raised concerns in the crypto community about similar occurrences in projects undergoing crucial development phases, such as Pi Network's transition to Open Mainnet.

Dr. Altcoin, a crypto analyst emphasizing decentralized ethics, drew parallels between the OM incident and Pi Network, emphasizing the importance of stricter regulations. While some users defended Pi Network's utility-oriented approach and aversion to speculative hype, Dr. Altcoin reiterated worries regarding transparency issues within the Pi Core Team.

Contrary to the skepticism, the Pi community remains positive, with Pi Open Mainnet outlining reasons why Pi might avoid a fate similar to OM. Factors like gradual token release, minimal early-sell events, and expanding utility, such as integration with Chainlink and introduction of fiat on-ramps, are seen as pivotal in Pi's growth and utility.

Despite a growing community nearing 60 million members, concerns persist regarding potential market manipulation and risks associated with leveraged trading on Pi derivatives. Analytical insights regarding on-chain behavior and market trends serve as a reminder for Pi Network to prioritize a disciplined, utility-first approach to avoid pitfalls leading to the downfall of tokens like OM. As of the latest data, Pi Network's PI coin was trading at $0.74%, reflecting a 1.36% decrease in the last 24 hours.