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Highlights
- Pi Network price slips over 8% amid a broader crypto market downturn.
- Massive $480 million Pi Coin unlock sparks concerns of further declines ahead.
- Pi Day announcements may revive market sentiment with potential exchange listings.
- Binance listing speculation grows with the exchange's recent cryptic post.
Market watchers are keeping close track of Pi Network price as it slipped more than 8% today. Notably, the retreat comes amid a broader crypto market downturn, with Bitcoin and top altcoins witnessing significant declines. Besides, the sentiment worsens as the massive Pi Coin unlock, worth around $480 million, looms, sparking concerns about whether the upcoming surge could trigger further declines.
Pi Network Faces Pressure: Major Unlock Looms
A significant Pi Coin unlock is set to take place on March 17, raising concerns about its impact on the token’s price. According to blockchain tracker Piscan.io, the daily Pi unlock currently averages 8.94 million coins, valued at about $17.89 million. However, on March 17, the unlocked amount will spike to 23.13 million Pi, worth roughly $46.27 million.
Notably, this sharp increase could flood the market with additional tokens, potentially driving prices lower. In addition, around 268.48 million Pi Coins will be unlocked in the next 30 days, translating to an estimated $478.79 million. With such a substantial influx of supply, investors remain wary of potential selling pressure that could further impact the price.
Meanwhile, Piscan.io recently introduced a new feature that allows users to track Pi unlocks over the next 30 days. The tracker provides insights into claimable balances, whether user-locked or distributed by the Pi Core Team.
However, it does not track unreleased Pi Network that is not yet in claimable balances. The platform urged investors to stay updated on unlock patterns and monitor changes closely.
Can Pi Day Announcements Revive Market Sentiment?
Despite growing concerns, the Pi Network community remains hopeful as Pi Day (March 14) approaches. Many investors anticipate major announcements regarding Pi’s ecosystem development and potential exchange listings.
Several experts believe Binance could list Pi Coin soon, citing its expanding utility and growing adoption. Recently, Pi hit a major milestone achieving 4 million followers on X. This reflects the growing appeal of the project among the market participants, which could help offset the upcoming token unlock concerns.
Besides, recent activity from Binance has further fueled speculation. In an X post, Binance wrote, “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 cryptic messages have led many in the Pi community to speculate that an exchange listing could be on the horizon. A Pi Coin enthusiast known as “The Times of PiNetwork” pointed out that Binance had previously conducted a poll regarding Pi’s listing, and 86% of respondents supported it. Simultaneously, a top expert recently said that Binance and other top exchanges are likely to list Pi, given its real-world utility and growing user base.
Market Outlook: Can Pi Sustain Its Momentum?
While the upcoming unlock raises supply concerns, the Pi community remains optimistic due to other positive market trends. If Pi Network delivers significant updates on Pi Day, it could counteract the selling pressure and inject fresh momentum.
However, without official confirmation from Binance or other major exchanges, speculation alone may not be enough to drive a sustainable recovery. As March 17 nears, investors must prepare for potential volatility.
Meanwhile, Pi value today was down over 8% and exchanged hands at $1.77, while its one-day volume plunged 31% to $541 million. Notably, the crypto has hovered between $2 and $1.75 in the last 24 hours.
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