Pi Network, a social cryptocurrency project, is currently facing significant price challenges as it approaches all-time lows. According to CoinMarketCap, Pi Network (PI) is trading at $0.6722, close to its all-time low of $0.6152 recorded on February 20, 2025. This downturn is largely attributed to the ongoing token unlock events, with over 126.6 million PI tokens expected to be unlocked in April alone, representing nearly 1.87% of the coin’s circulating supply.
The monthly unlocks have consistently exceeded demand, which, as noted by Alex Obchakevich, Founder of Obchakevich Research, significantly impacts the token’s value. He emphasized that these unlocks are “inevitable in any case” and highlighted the need for the project to focus on development to increase usage and interest.
So far, Pi Network has unlocked 4.9 billion PI tokens, with an additional 1.54 billion expected to be freed over the next 12 months, averaging around 133 million PI tokens per month.
Pi Network’s price struggles follow its mainnet launch in February 2025, which initially saw trading restrictions that limited its listing on major platforms. After being listed on Bitget, OKX, and MEXC, the project experienced a sharp decline in value.
This downturn is also linked to broader market conditions and concerns about the project’s legitimacy, as seen in criticisms from figures like Ben Zhou, CEO of Bybit, who questioned the project’s authenticity.
However, despite current challenges, Pi Network is recognized for its potential. Obchakevich noted that the project could compete with top 10 projects in the future if it focuses on development and stays competitive in unstable market conditions.
Recent events like PiFest 2025 have shown promising adoption rates, with over 1.8 million users engaging with the network and more than 125,000 registered sellers participating in the event. Additionally, upgrades such as the PCM Wallet have enhanced user experience, which could contribute to future growth.
Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.
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