Pi Network Slips Amid Massive Token Unlocks and Exchange Support Gaps

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.