Pi Network Token Plummets 20% Amid Platform Upgrades and Unlock Concerns

Pi Network's token price dropped 20% last week to $0.532, extending its 56% decline from May's peak. This downturn occurred despite major platform upgrades announced during Pi Day 2 celebrations, including AI integrations and wallet improvements.

The network's market cap now stands below $4 billion as investors express concerns over delayed exchange listings and upcoming token unlocks. Between June 2024 and July 2025, 276 million PI tokens will enter circulation—representing 3.7% of total supply and $215 million in potential sell pressure.

Historical data indicates such unlock events often trigger price corrections of 30-77%. Meanwhile, the project's centralized governance model continues facing scrutiny as developers prioritize ecosystem tools like the new staking-powered app directory.