Core Viewpoint - Major cryptocurrencies are experiencing significant declines, with Ethereum down 35% and Solana down 34%, raising questions about the viability of buying the dip in these assets [1]. Investment Strategy - The strategy of buying the dip is generally effective when a cryptocurrency is in a long-term uptrend, with pullbacks of 10% or more providing opportunities to purchase at lower prices [2]. - Historically, this strategy has been successful for cryptocurrencies like Ethereum and Solana, which are now available at a 35% discount [4]. Changing Investment Thesis - Investors are increasingly re-evaluating Layer-1 blockchain networks such as Ethereum and Solana, shifting from viewing them as foundational elements of the crypto economy to perceiving them as open-source software [5][7]. - The perception of Ethereum and Solana as decentralized, public codebases has led to a decline in their perceived value, especially as software stocks face significant downturns [8]. Market Sentiment - The current market sentiment is characterized by fear and a desire to de-risk, as reflected in the Crypto Fear and Greed Index, which stands at 5 out of 100, indicating near-panic levels among investors [10].

Decentralized Exchange (DEX) Landscape - Decentralized exchanges are crucial for any crypto ecosystem [1] - PidaoSwap is leading the development of a DEX on the Pi Network ($PI) [1] Pi Network Ecosystem - The report highlights the emergence of a DEX within the Pi Network ecosystem [1]