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Highlights
- Pi Network token holders that failed to complete mainnet migration and KYC requirements on Pi Day are facing losses.
- Concerns around decentralization could also impact investor confidence around the project after the hype around Pi Day ends.
- The event ended without a major announcement or exchange listing, leading to a bearish momentum for Pi Network price.
Pi Network token price plunged by more than 13% just one day after Pi Day, which marked the sixth anniversary of the project. The sell-off comes amid several concerns from Pi Coin holders about the network’s future and the token’s price performance. In this article, we explore four things that Pi Network token holders should be worried about.
Things Pi Network Token Holders Should Worry About After Pi Day
Pi Day is an event that is celebrated on March 14 every year. It coincided with the project’s sixth anniversary. During this event, Pi Network token holders awaited a flurry of announcements to spike market interest in the altcoin.
Pi Coin has made waves since its launch, with its market cap surging to over $1o billion. Top exchanges like OKX and Bitget have listed Pi Coin. There has also been notable Pi Coin adoption from a top US real estate company.
Pi Day unlocked another stage for the project. This day was also the deadline for mainnet migration. There was also anticipation that a major exchange could list Pi Network token on the day.
Nevertheless, despite the buzz surrounding this day, Pi Coin holders should remain concerned about the following:
KYC and Mainnet Deadline Migration
The Pi Network migration deadline was on Pi Day 2025. This migration will transfer Pi token holders and users from the testnet to the official blockchain that launched last month. Users can only migrate their tokens if they complete Know Your Customer (KYC) verification.
Pi Network set the deadline for migration on March 14, 2025. It also stated that there would be no extensions to this deadline. Those who fail to complete KYC and the migration will end up losing most of their Pi tokens.
The possibility of losing Pi Coins for those who missed the migration deadline should concern token holders.
Concerns About Decentralization
Pi Network token holders should also be concerned about the level of decentralization on the project. Pi Coin has a maximum supply of 100 billion tokens. Meanwhile, data from PiScan shows that 62 billion tokens are held by six wallets belonging to the core team.
Besides the supply distribution, the Pi Network has 2 active validators globally and only 17 active nodes. This is a significantly small number compared to decentralized networks like Bitcoin and Ethereum, which have thousands of active nodes and validators that guarantee decentralization.
Such concerns could weigh on the Pi Network price after Pi Day. It may also hinder broader adoption, and impact investor confidence.
Delayed Listing on Top Exchanges
The Pi Network community was optimistic about Binance listing Pi Coin. Some anticipated that the listing would happen on Pi Day after the mainnet migration and users had met KYC requirements.
Nevertheless, Binance did not list the token. Coinbase has also not revealed plans to list this token despite Pi Coin gaining swift adoption in the US. If Pi Network token is not listed on another major exchange after Pi Day, it could slow the momentum and reduce investor confidence.
Pi Network Price Shows Slow Momentum
Pi Network price today is $1.44 with a staggering drop of 14% in 24 hours. The RSI is at 35, which is close to oversold levels, indicating that selling activity is strong. The CMF indicator is also negative, which is a sign of Pi Coin price weakness as buying pressure fades.
The rising selling pressure around the Pi Network token after Pi Day is concerning. If this momentum continues, the price could slip to the 23.6% Fibonacci level of $1.36.
Bottom Line
The Pi Network token is seeing increased volatility after Pi Day. The event ended with no major announcement or a top exchange listing leading to a surge in selling pressure. Concerns about decentralization and failure to be listed on other top exchanges may affect future price performance.
Frequently Asked Questions (FAQs)
1. Why is Pi Day important to Pi Network token holders?
2. Why should Pi Coin holders be concerned after Pi Day?
3. Why did Pi Network price drop after Pi Day?
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