Pi Network’s 188 Million Token Unlock to Affect Over 1 Million Users

YEREVAN (CoinChapter.com) — Pi Network will unlock 188 million PI tokens in March, distributing them to more than 1.1 million users. This is a larger release compared to previous months. However, the selling pressure may remain limited, as many users hold their PI tokens for extended periods.

Despite the increased supply, demand for PI tokens remains strong. At the same time, Binance’s listing delay has triggered backlash from the Pi Network community. Supporters have criticized the exchange, with some users leaving negative reviews on its app.

Pi Network Gains Market Recognition

Since its mainnet launch on Feb. 20, PI token has experienced significant price movement. The price surged nearly 100%, reaching $2.99 before seeing corrections. Despite earlier concerns, the Pi Network community continues to push for wider adoption.

Currently, PI is trading at $1.8704 on OKX, reflecting a 0.77% decline in the last trading session. The price has stabilized after recent volatility, with trading volume reaching 1.02 million PI tokens.

Following its peak, PI experienced a sharp drop but later found support above $1.80. Over the past few days, the price has been consolidating, maintaining a steady upward trend. If the market momentum continues, further movement toward the $2.00 resistance level could follow.

Last week, CoinMarketCap did not update PI’s market cap, but the platform changed its position yesterday. Now, PI token ranks 11th in the market, ahead of Hedera, Chainlink, and Stellar (XLM).

On CoinMarketCap, 91% of users remain bullish on PI token. The 188 million token unlock has generated further discussion within the Pi Network community as more users gain access to their holdings.

March Unlock and PI Token Selling Pressure

A token unlock of PI tokens could affect market activity. However, a large number of Pi Network users are holding their tokens long-term, reducing immediate selling pressure.

According to ExplorePi data, there are 11.5 million Pioneer accounts. Among them, about 7.25 million accounts (63%) lock their PI tokens for three years, while 1.6 million accounts (14%) have a one-year lock period. With these numbers, PI token’s supply increase may not immediately flood the market.

Last month, Pi Network distributed the largest airdrop in crypto history, increasing activity. The upcoming PI token unlock adds another layer of distribution, with millions of users set to receive their allocations.

Binance Faces Backlash Over Pi Network Listing

Recently, Binance hosted a community vote on listing PI token, with strong support for the addition. However, the exchange has not moved forward, leading to frustration from Pi Network users.

Supporters have responded by review-bombing Binance’s Google Play Store ratings, demanding action. While Binance has not directly mentioned Pi Network, the exchange addressed the issue through a statement:

“Before listing cryptocurrencies, Binance will check and consider many factors including liquidity and trading volume in the market.”

Most of these reactions have come from Pi Network’s strongest markets in Asia. Recently, Vietnam’s government issued a warning about PI token, and Bybit CEO Ben Zhou reminded users that China had issued similar warnings years ago.

In a post on X, Ben Zhou referenced a Chinese police warning from 2023, which labeled Pi Network as a potential scam. According to him, authorities cautioned that the project targeted elderly individuals, leading to data leaks and financial losses. Zhou also dismissed claims that Bybit rejected a Pi Network listing request, stating that no such request was ever made.

He further criticized Pi Network’s community, arguing that instead of addressing concerns, supporters resorted to personal attacks and baseless accusations.

“Yes, I still think you are a scam, and no, Bybit will not list scam,” Zhou wrote.

Binance Listing for Pi Network Remains Unclear

 

The Binance listing for Pi Network (PI) remains uncertain despite strong community backing. A Binance community vote saw 86% of users in favor of listing PI, yet the exchange has not moved forward with the process.

Frustration among Pi Network supporters is growing. A user wrote.

Amid the backlash, Pi Network co-founder Chengdiao Fan addressed the situation, urging users to stay focused.

“Pioneers, don’t let the noises disrupt you. Focus on what matters and what makes a difference in the crypto space and in the world,”

she stated.

Fan emphasized that building and developing the ecosystem should remain the priority.

Pi Network Surpasses 4 Million Followers on X, Closing in on Dogecoin

Pi Network has surpassed 4 million followers on X , marking another milestone for the mobile-friendly crypto project. This puts its social media presence ahead of major blockchain networks like Ethereum (ETH) and BNB Chain.

The official Pi Network team acknowledged the achievement in a post, stating:

“Pi Network now has over 4 million followers on X! Congratulations to everyone in the Pi community for supporting Pi and making this possible.”

Pi Network’s growing social media presence is not its only area of expansion. The project is also seeing a surge in Google Play Store downloads.

According to recent data, the Pi Network app has been downloaded over 113.2 million times. Over the past month, the platform has averaged 270,000 new daily downloads, highlighting its increasing adoption.

With its rapid follower growth, Pi Network is now just 300,000 followers away from surpassing Dogecoin (DOGE) on X.

Pi Network’s Community Remains Active

The Pi Network community continues to push for more exchange listings. However, some users have drawn attention for their social media activity.

With over 11.5 million users and wider market recognition, Pi Network remains active in the crypto space. Whether major exchanges like Binance will list PI token after the March unlock remains to be seen.