Pi Network’s token price remains unstable amid crypto market surge
Major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) have surged in the past week, with Bitcoin briefly surpassing USD 122,000. In contrast, Pi coin continues to trade with low liquidity and seesawing prices.
According to Coingecko data, after a period of stagnation at USD 0.44, Pi saw a slight rebound to USD 0.51 on the morning of July 22, only to dip back down to around USD 0.49 shortly after.
Experts attribute this price instability to several key factors. Piscan data shows that nearly 185 million Pi tokens have been unlocked in the past month alone, with some days seeing over 10 million tokens released.
Since mining Pi is free, newly unlocked tokens are often dumped on the market, suppressing the price…
