Pi Network Set to Unlock Tokens

In March, Pi Network plans to release 188 million tokens, making them available to over one million users. This represents a substantial increase in user access compared to previous months. However, despite this vast unlock, it is anticipated that the selling pressure on the PI token may be mitigated by strong demand.

Community Reactions and Binance Listing Delays

The project’s community has taken to social media, expressing frustration at Binance for its perceived delays in listing PI tokens. A recent vote by Binance users showed overwhelming support for listing Pi, yet the exchange has yet to make it official. This has sparked a wave of negative reviews directed at Binance on various platforms.

Market Developments for Pi Network

Since its mainnet launch on February 20, the PI token has seen significant growth, nearly doubling its value to reach a peak of $2.99 before facing some corrections. The broader cryptocurrency community is increasingly acknowledging Pi, despite prior skepticism. Following a delay in updating its market cap, CoinMarketCap recently recognized Pi as the 11th largest cryptocurrency, ahead of competitors such as Hedera and Chainlink.

Current community sentiment on CoinMarketCap reveals that 91% of users are optimistic about Pi's future. With the upcoming unlock of 188 million tokens, the potential for market influence is significant.

A Long-Term Perspective on Selling Pressure

With a reported 11.5 million Pioneer accounts, many users have opted to lock their PI tokens for longer durations—63% for three years and 14% for one year. Consequently, even with the large number of unlocked tokens, immediate selling pressure is unlikely.

Continued Enthusiasm Amidst Challenges

Enthusiasm for Pi Network remains robust, although the community's fervor has led to some backlash. Binance's vague responses regarding the listing process have prompted various negative reviews, particularly noted on its Google Play store page. Binance stated, 'Before listing cryptocurrencies, we consider factors including liquidity and trading volume,' indirectly addressing the rising tensions without mentioning Pi directly.

While concern from authorities, such as a recent warning from the Vietnamese government about Pi Network, and previous alerts from the Chinese government, persist, the project's robust community continues to support it, proving resilient in a fluctuating market environment.