Pi Network Slips Amid Massive Token Unlocks and Exchange Support Gaps
29.04.2025 09:56
Pi Network (PI) witnessed a 3% weekly decline, falling to roughly $0.61 and marking an 18% drop over the past two weeks, even as the broader cryptocurrency market surged with Bitcoin (BTC) up by nearly 10% and Ethereum (ETH) rising by 11.5%. The dip in PI's price is largely attributed to significant token unlocks, with nearly 7 million tokens released recently and over 230 million scheduled to be freed up in the next month. Notably, a record unlock of 11.3 million tokens is set for April 30, which could increase selling pressure as investors take the opportunity to liquidate their holdings. Furthermore, PI has been hindered by a lack of support from major exchanges such as Binance and Coinbase, despite being embraced by platforms like Gate.io, OKX, and Bitget. While some analysts remain cautiously optimistic about a potential rebound, warnings from social media figures suggest that the asset could lead to substantial losses for current holders.
PI is under downward pressure with a weekly decline of 3% compounded by an 18% two-week fall. The scheduled massive token unlocks, particularly the 11.3 million tokens on April 30, are likely to fuel further selling pressure in the short term. Lack of listing on major exchanges such as Binance and Coinbase further undermines investor confidence, making further price drops probable before any potential rebound, which remains highly uncertain.
BTC's near 10% increase over the past week reflects robust market sentiment and strong investor confidence. This uptrend may continue to attract significant capital inflows in the short term, positioning BTC as a relatively stable asset amid volatility in smaller tokens.
ETH's 11.5% rise indicates sustained investor optimism and positive market dynamics. The strong performance contributes to its role as a cornerstone of the crypto market, potentially offering support and stability in both the short and long term.