Pi Network Price Plunges Ahead of Token Unlock

The Pi Network price has declined by nearly 10% in the past day, ahead of its token unlock event. This drop is part of a broader downtrend that has seen the token fall by almost 30% over the last month, indicating significant selling pressure.

According to Coinglass data, there were 83,203 liquidations totaling $301.33 million during the same period, further contributing to the bearish market sentiment. The wider crypto market also weakened, falling 0.94% to $2.19 trillion.

The Pi Network has scheduled token releases over a 30-day period, with an estimated 127.5 million tokens set to be unlocked. This represents about 2.06% of the network's total locked balances and is valued at approximately $10.65 million based on current prices.