Pi Network Price Drops as Supply Pressure Builds

Pi Network token’s price is nearing record lows as more tokens enter circulation.

As of now, Pi (PI) is trading at $0.6816, just above its all-time low of $0.6152 recorded on February 20. This decline follows a massive token unlock, with 126.6 million PI tokens—1.87% of its circulating supply—set to be released this month.

Alex Obchakevich, founder of Obchakevich Research, linked the price drop to continuous token unlocks. He explained that supply consistently outstripping demand puts downward pressure on PI’s value.

To date, the network has released 4.9 billion PI, with another 1.54 billion tokens scheduled for release over the next year. On average, Pi Network unlocks 133 million tokens each month.

The latest downturn mirrors February’s price crash after Pi Network’s mainnet launch. Previously, trading restrictions kept PI off exchanges. However, after its debut, the token was listed on Bitget, OKX, and MEXC.

Pi Network’s Future Potential

Despite current challenges, Alex Obchakevich acknowledges Pi Network’s long-term potential. He emphasized that the project should now prioritize development to boost adoption and engagement.

Discussing its growth prospects, he stated:

“The project has the potential to compete with the top 10 cryptocurrencies in the future. However, for now, it must navigate market volatility, as competitors continue to offer more attractive features and incentives.”

Understanding Pi Network

Pi Network is a blockchain project designed for mobile users, allowing them to earn Pi coins through daily in-app check-ins.

Launched in 2019, the network was created by Stanford University graduates. It uses a referral-based system, where users invite others to earn additional tokens.

In February, ByBit CEO Ben Zhou questioned Pi Network’s legitimacy, calling it a scam. He firmly stated:

“Yes, I still think you are a scam, and no, Bybit will not list scam.”