TL;DR
- PI dropped below $0.55 as market tensions and global trade wars escalate.
- With millions of tokens set to unlock this month and no major exchange listings, the price might continue its downtrend in the near future.
In recent months, the price of Pi Network’s native token, PI, has experienced a severe downturn. However, there was a brief surge over the weekend, as highlighted by CryptoPotato, which reported a price increase reaching almost $0.75 on April 5. Unfortunately, this rally was short-lived; as the new week commenced, bears reentered the market, and the price has dropped significantly, currently trading at approximately $0.53 according to CoinGecko, a steep decline of 14% in just 24 hours. Coincidentally, this decline has reduced the market capitalization of PI to below $4 billion, distancing it from the elite top 30 cryptocurrencies.
The recent plunge in PI’s price can largely be attributed to the broader collapse of the digital asset sector, which has been under considerable strain due to escalating tensions in global trade. Recent announcements from U.S. President Trump regarding new tariffs have heightened concerns, prompting many countries to retaliate or engage in negotiations.
Compounding these market pressures, a significant number of PI tokens—over 121 million—are set to be unlocked this month. Current data indicates that approximately 6.8 billion coins are circulating, encompassing locked and unlocked mining rewards. Of particular concern is the fact that 75% of the total tokens remain locked, leading to uncertainty regarding the potential impact on PI’s price once these tokens are released.
Furthermore, despite speculation surrounding potential listings, leading exchanges like Binance and Coinbase have yet to engage with Pi Network’s cryptocurrency. The lack of support from these platforms results in decreased liquidity and limited market access for potential investors, which may hinder any immediate price recovery.
In conclusion, as global economic tensions continue to rise and the impending token unlocks approach, PI’s price may remain volatile. Investors and market participants should monitor developments closely, as the dynamics of these factors will significantly influence the market trajectory of PI in the coming weeks.
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