Pi Coin Faces 70% Plunge Amid Massive Token Unlock Fears

Pi Coin has suffered a drastic decline, losing approximately 70% of its value from its recent peak of $2.98 to around $0.80 within a month. The asset is currently trading at significantly lower levels, with investor sentiment remaining bearish. Contributing to the downturn, roughly 105 million PI tokens, valued at about $85 million, are scheduled for unlocking in the next 30 days, with the largest single-day unlock of 6.8 million tokens set for April 3. In addition to these troubling statistics, the Pi Network has been transitioning from phone number-based authentication to email-based Know Your Customer (KYC) verification, a move that coincides with continued market instability. Although related news references Binance’s response to a hacking incident, the primary concern for investors remains the upcoming token unlocks and the overall market cap slump, which has seen Pi Coin drop from a former top 15 cryptocurrency to a more marginalized position in the market.