Pi Coin has faced a steep drop in market value, losing around 70% from its peak. With 105 million tokens set to be unlocked soon, price pressure may increase.
Pi Coin Market Decline
Pi Coin has fallen significantly from its all-time high of $2.98 recorded last month and is currently trading at around $0.80. Investor sentiment remains bearish as the asset has lost around 70% of its value in just one month. The market cap of Pi Coin stands at around $5.48 billion, marking a significant drop from its previous ranking when it once held a position among the top 15 cryptocurrencies.
Mass Token Unlocks
Around 105 million PI tokens are set to be unlocked next month, which could also put pressure on the price. The largest single-day unlock of 6.8 million tokens is scheduled for April 3.
Network Regulation and Changes
PI Network has continued its mainnet migration process by switching from phone-based authentication to email-based Know Your Customer (KYC) verification. However, the biggest concern for investors is the upcoming mass token unlocks.
Pi Coin is facing several challenges, including a sharp price decline and upcoming token unlocks. Investors are closely watching the situation hoping for stabilization.
