Cryptocurrency prices have generally seen an uptick in recent days, but Pi Network persists in its negative trend.
Current Price Dynamics of Pi Network
As of now, the price of Pi Network stands at approximately $0.48, reflecting a 13% decline over the past week and a 26% drop over the month.
Factors Pressuring the Token's Price
Recent surges in the number of tokens stored on centralized exchanges have exceeded six million in the last 24 hours. Currently, more than 366 million PI tokens are held across these platforms, equaling about $177 million USD. This increase in supply may heighten selling pressure.
Future of Pi Network and Upcoming Token Unlocks
A record 18.2 million PI tokens are scheduled for release today, which could further impact prices. Unlocks will remain elevated until mid-July. Previously, in June, prices had already sharply declined due to geopolitical tensions.
With the ongoing trends and upcoming events in the market, the future price of Pi Network remains uncertain, necessitating close attention.
