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Is Pi Network Price Heading For a Major Crash? 600M+ Tokens Unlocking by Year-End
Pi Network is about to face an unprecedented surge in supply, which may put significant pressure on the token’s price. The project’s massive token unlock plan has raised concerns among investors and analysts alike, as it is expected that over 620 million Pi tokens will enter circulation by the end of this year.
The sheer scale of these unlocks has sparked alarm bells within the community, as many are worried about the potential impact on the token’s value. The sudden influx of new tokens could flood the market, putting downward pressure on prices and potentially causing a major crash.
According to a tweet by Pi Network member, around 139 million Pi will enter circulation in August, followed by 116M in September, 93M in October, 102M in November, and an astonishing 170M in December. Additionally, daily migrations are pumping 3 to 5 million Pi tokens into the market, significantly increasing circulating supply.
While some see potential for Pi’s ecosystem to support this massive unlock event, others argue that the project is struggling to spark external interest, with too little liquidity to back up the increased token supply. This lack of demand and insufficient liquidity could put immense pressure on the token’s value.
The recent token unlock event on July 15, which saw a single-day release of over 337 million Pi tokens, resulted in a sharp 25% decline in price, illustrating the immediate impact that such unlocks can have on the coin’s value.
Source: coinpedia.org
