Pi Network, a prominent crypto project with a large community of users, is facing serious pressure in the second quarter of 2025. Although public interest in the project has decreased, many Pioneers still hope for a significant price increase.
However, a significant number of Pi tokens will be unlocked this month and in the coming months. This, combined with weakening liquidity, could complicate the recovery of Pi Coin.
The trading volume of Pi Network is sharply declining against the backdrop of a rapid increase in circulating supply.
According to PiScan, 212.2 million Pi tokens will be unlocked in May, 222.6 million in June, and 233.4 million in July. It is important to note that the period from May to July will see the largest volume of Pi unlocking until September 2027. This sharp increase in supply, along with the growing number of Pi tokens held on exchanges, is putting serious pressure on the price to decrease. PiScan data shows that the total balance of Pi on centralized exchanges (CEX) now exceeds 387 million tokens. Compared to the reporting in February, the amount of Pi on exchanges has doubled in less than three months.
In particular, Bitget holds over 95 million Pi, while OKX has nearly 154 million. This increase suggests that many investors may be ready to sell, increasing the risk of a price drop, even if a short-term recovery occurs.
More concerning is the lack of liquidity growth amid the increase in supply. According to CoinMarketCap data, the trading volume of Pi Coin has decreased from over $1.3 billion at launch to approximately $45 million—a drop of 96%.
This dramatic decline reflects a sharp drop in trading demand, raising concerns about the market's ability to absorb the newly unlocked supply.
Why Pioneers Still Expect a Price Recovery for Pi in May
Despite the challenges, the community of Pi investors maintains an optimistic outlook.
Their hopes are partly based on unconfirmed rumors that emerged in early May, suggesting a possible listing of Pi on Binance. A Pi investor account with over 100,000 followers on X claimed that the Pi Core Team and Binance are in the final stages of negotiations.
"Soon! Pi will be listed on Binance Exchange, PCT is in the final stages of negotiations with Binance," said Pi Barter Mall.
Another key factor supporting the bullish sentiment is the upcoming participation of Dr. Nicholas Kokkalis, the founder of Pi Network, at Consensus 2025.
Furthermore, since the launch of the mainnet, Pi Network has achieved several significant milestones. Among them are the integration of Chainlink with Pi Network and the integration of the Telegram Crypto Wallet with Pi. At the time of writing, the price of Pi remains stable at around $0.58, as it has since early May. This reflects the cautious sentiment of Pi traders this month.#BinanceSquare #Write2Earn #PiNetwork #cryptowallets #Binance $ETH