The Pi Network is making headlines again, but this time it’s for a major event that could impact the future of its cryptocurrency. 2.8 million PI tokens are being unlocked into circulation today, following a schedule of unlocks that will see more than 1.5 billion tokens enter the market over the next year. Given the volatility that Pi Coin has already experienced, many are questioning how this event will affect the price of the token, which is currently trading at nearly 80% lower than its all-time high.

This token unlock marks only the beginning of a series of scheduled releases for Pi Network tokens. According to PI Scan, a real-time blockchain explorer, 108.9 million PI tokens are slated to be unlocked just in April 2025. The token release will continue throughout the year, with approximately 134 million tokens expected to be unlocked each month. The largest of these unlock events is expected to happen in December 2027, when 432 million tokens will be added to the market. With so much additional supply entering the market, investors are paying close attention to how the price of Pi Coin will respond.

The Pi Coin Price History and Current Market Sentiment

Pi Coin’s journey so far has been marked by impressive initial gains and subsequent setbacks. When Pi introduced in February 2025, it began trading at $0.1071. In a matter of days, the price surged by over 2,600%, peaking at $3.00 in late February. However, the token quickly lost steam, and by April 4, its price had fallen by 81.58%, highlighting the highly volatile nature of Pi’s early price movements.

Since the initial surge, the price has fluctuated between $0.4040 and $0.7894, currently sitting around $0.6174. While the price has stabilized somewhat in the last few weeks, the upcoming token unlocks bring new uncertainty into the mix. Pi Coin’s current circulating supply stands at 6.88 billion tokens, and the market capitalization is approximately $4.17 billion. With 2.8 million tokens entering circulation today, some believe the extra supply could drive the price even lower, especially if there is insufficient demand to absorb the new tokens.

Impact of Token Unlocks on the Market

Token unlocks in the cryptocurrency world are always met with mixed reactions. On one hand, they can be seen as a sign of progress and maturity for a project, allowing for greater liquidity and transparency. In Pi’s case, the release of tokens today could be viewed as part of a long-term plan for building a more robust ecosystem and network. On the other hand, token unlocks can often result in price dips. The added supply can overwhelm market demand, particularly if investors who have been holding tokens decide to sell off as they are unlocked.

This situation is further complicated by the fact that Pi Coin’s community remains divided on the project’s long-term prospects. Some investors are hopeful that the Pi Network will continue to grow and attract greater utility, thereby justifying the increase in token supply. Others remain cautious, viewing the frequent token unlocks as a risk of dilution. As the number of circulating tokens increases, each token becomes slightly less valuable unless there’s a corresponding increase in demand.

What’s Next for Pi Network?

Looking forward, there’s still a lot of uncertainty regarding the future price movements of Pi Coin. In May, June, and July, Pi Network will release another 190 million, 226 million, and 233 million tokens respectively. These periodic unlocks are sure to continue placing pressure on the price, especially if there’s a lack of institutional interest or a failure to develop practical use cases for Pi Coin in the broader market.

For Pi Network to maintain or grow its price, it will need to demonstrate sustained adoption and use, both by its community and by external players in the cryptocurrency ecosystem. The release of tokens alone is not enough to justify long-term growth if there isn’t a clear path toward a broader market or utility.

Conclusion

Today’s 2.8 million PI token unlock marks an important moment in the evolution of the Pi Network. As the project continues to release tokens over the next several months and years, it will face significant challenges in balancing token supply with demand. The market is watching closely, as the price of Pi Coin is highly sensitive to these changes. If demand fails to meet supply, the risk of further price drops remains high. However, if the project can create genuine use cases for Pi Coin and build stronger market confidence, it may be able to weather the storm and even capitalize on the additional liquidity. For now, the coming days will likely offer key insights into Pi Network’s future trajectory.