Despite the successful progress in Pi Network's migration phase, which saw a surge in user activity and token transfers, the price of Pi Coin remains surprisingly low. What’s behind this unexpected trend, even as the community celebrates major milestones?
📈 Migration Progresses Smoothly, But Price Stays Flat
Pi Network officially began its six-month migration phase on July 1st, urging users (known as Pioneers) to complete KYC verification and transition to the mainnet. On July 8 alone, over 16.8 million tokens worth approximately $7.9 million were migrated. Since the start of the month, more than 75 million Pi Coins—worth over $37 million—have been transferred. These numbers reflect strong momentum toward an open network and active use of ecosystem dApps.
🔓 Massive Token Unlock Adds to Selling Pressure
Another key factor contributing to Pi Coin’s price decline is the massive token unlock happening in July. Reports indicate that over 200 million Pi tokens will be released this month, with a staggering 10.1 million tokens expected to unlock in a single day. Such large inflows typically lead to increased selling pressure as major holders liquidate their assets, overwhelming buyer demand and pushing prices down.
📉 Pi Coin Price Drops Despite Network Progress
At the time of writing, Pi Coin is trading at $0.4695, reflecting a modest 0.77% increase over the past 24 hours. Weekly losses stand at 2%, and the token is down a sharp 19% over the last 30 days. While the broader crypto market is rebounding—Bitcoin recently hit a new ATH at $122,200—Pi Coin is moving in the opposite direction.
Analysts attribute the downward trend primarily to the growing token supply, accelerated by mobile mining. This increased circulation puts downward pressure on the coin’s price, especially in the absence of deflationary mechanisms such as token burns. Experts warn that unless the supply-demand balance is adjusted, the current distribution strategy could hinder long-term growth.
📌 Conclusion
Despite significant technical and adoption-related progress, Pi Coin remains under downward pressure due to fundamental economic challenges. Unless structural changes are made to its tokenomics, the price may continue to stagnate—even as network usage expands.
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