- Pi Coin drops 8% as $480M token unlock nears, raising supply concerns.
- Pi Day sparks optimism amid Binance listing speculation.
- 268M Pi tokens set to unlock in 30 days, heightening volatility risks.
The price of Pi Network has decreased by more than 8% as the larger cryptocurrency market has seen a dip. Bitcoin and the biggest cryptocurrencies have also experienced large drops, contributing to the pessimistic attitude. The drop in Pi Coin’s value comes as a massive token unlock worth approximately $480 million looms. Investors are increasingly concerned that the influx of new supply could trigger additional price declines in the coming days.
Major Pi Coin Unlock Raises Market Concerns
A substantial Pi Coin unlock is set to take place on March 17, with 23.13 million Pi tokens becoming available. This sudden increase in supply, estimated to be worth around $46.27 million, could place downward pressure on the token’s price. According to blockchain tracker Piscan.io, Pi’s daily unlock currently averages 8.94 million coins, valued at approximately $17.89 million. However, in the next 30 days, around 268.48 million Pi tokens will be unlocked, equating to nearly $478.79 million in value.
With such a large influx of tokens, market participants are monitoring the potential impact on price movements. Piscan.io has introduced a new feature that allows users to track unlock patterns over a 30-day period. This tool provides insights into claimable balances, distinguishing between user-locked funds and those distributed by the Pi Core Team. Despite this new tracking feature, concerns persist over whether the increased supply could lead to further declines in Pi’s market value.
Pi Day Anticipation and Binance Listing Speculation
Despite fears of price declines, the Pi Network community remains optimistic as Pi Day approaches on March 14. Investors are looking forward to major announcements regarding ecosystem developments and possible exchange listings. Speculation surrounding a potential Binance listing has grown following cryptic posts from the exchange. Binance recently shared a message stating , “Dreams come true… but only if you survive the ‘task’ stage.” Meanwhile, Binance Wallet added, “Start with a piece, work hard, and earn the whole pie!”
These messages have fueled discussions within the Pi community about the likelihood of an official listing. Previously, Binance conducted a poll regarding Pi Coin’s inclusion, with 86% of respondents supporting the move, citing its expanding utility and growing adoption.
Recently, Pi hit a major milestone achieving 4 million followers on X. Analysts suggest that growing adoption and increasing utility could enhance the chances of a listing on major exchanges. However, without official confirmation, market participants remain cautious about speculation alone driving a sustainable price recovery.
While Pi Network faces short-term pressure from the upcoming unlock, positive developments could influence market sentiment. If significant announcements emerge on Pi Day, the potential for recovery remains. However, with substantial supply entering the market, investors must prepare for possible volatility. As March 17 nears, all eyes will be on how Pi Coin navigates these critical developments.
