Pi Network’s PI Token Holds Steady Amid Major Supply Unlock Event
Pi Network’s native token Pi continues to trade within a tight range as the project faces its largest monthly token unlock to date. Currently priced at $0.7504, PI shows minimal daily volatility despite a 16.2% increase in trading volume, reaching $145 million.
Investors remain cautious with 15 million PI scheduled for release on May 28, following previous unlocks of 10 million and 12 million tokens. The cryptocurrency remains 74% below its February all-time high of $2.99, fluctuating between $0.7406 and $0.8586 over the past week.
While heightened trading volume indicates speculative interest, the market appears hesitant to make significant moves before evaluating the impact of the upcoming supply increase. The network’s ability to absorb this new token influx without substantial price depreciation will be tested in the coming days.
