Pi Network, arguably the most followed crypto project, will be unleashing 188 million Pi tokens in March. With the present circulating supply being 7 billion, this unlock has been troubling investors with questions regarding selling pressure and price instability.
In spite of these issues, Pi Coin has maintained its upward trend, recently reaching $2.99 before falling back slightly. The impending Pi Coin unlock event may affect the market, but staking mechanisms and strong community support can stabilize its value.
Pi Coin Holders Locking Up Their Tokens
One of the largest reasons Pi Coin price may stay stable in spite of the unlock is the strong dedication from its holders. Recent statistics indicate:
63% of Pi owners have locked up their tokens for three years
14% have locked up for a one-year period
This implies that although 188 million Pi tokens will be unlocked, most holders won’t sell instantly. This reduces the short-term risk of a price crash dramatically.
Read this:Pi Coin Value: Live Price, Future Predictions, and Market Insights
Also, Pi Coin has appreciated 3% in value even prior to the unlock, demonstrating its strength in an unpredictable crypto environment. With millions of users across the globe, Pi Network continues to be among the strongest community-backed projects.
Why Is Binance Still Not Listing Pi Coin?
One of the largest worries of Pi Coin investors is that Binance has yet to list Pi Coin. While one of the largest cryptocurrencies by market cap, Pi Coin can still be found nowhere on the large exchanges like Binance and Coinbase.
The Pi Network community has been loud about this problem, even going so far as to leave bad reviews on Binance’s Google Play Store listing. But Binance has not given a solid explanation for the delay. The exchange has simply said that listing is based on liquidity, trading volume, and regulatory considerations.
If Binance does list Pi Coin in the end, it could cause a huge price explosion, as millions of traders would have access to the asset.
Pi Coin Overtakes Chainlink and Hedera in Market Cap
Despite these uncertainties, Pi Coin has surpassed well-known cryptocurrencies such as Chainlink (LINK) and Hedera (HBAR). With a market capitalization of $13.52 billion, Pi Coin is currently ranked 11th out of all the cryptocurrencies.
Despite the crypto market experiencing a general downturn, Pi Coin has gained 4% in the past 24 hours, reaching $1.92. This strong performance indicates that Pi Coin may continue to grow, even with the upcoming token unlock.
Will Pi Coin’s Price Drop After the Token Unlock?
The 188 million Pi token unlock has fueled rumors of a possible price fall. Nevertheless, with the majority of holders locking up their tokens, selling pressure might be less than anticipated.
At present, Pi Coin is resilient, supported by community and growing adoption. Price volatility is always a possibility, but the Pi Network ecosystem is growing, and its ranking in the crypto space is constantly on the rise.
Investors will be waiting eagerly in March to know how the token unlock event affects Pi Coin’s price action. Will it remain steadfast, or will the market respond negatively? The next weeks will prove vital to Pi Coin’s destiny.
