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Pi Network News: 119 Million Tokens to Be Released By Month-End
The post Pi Network News: 119 Million Tokens to Be Released by Month-End appeared first on Coinpedia Fintech News
Pi Coin is currently trading at $0.59, struggling to break above key resistance at the $0.60 level. The drop follows a steep decline in recent days, with the token down over 30% in the last 14 days and more than 80% below its February 26th peak.
The price pressure comes as a massive token unlock continues to unfold. According to PiScan, more than 119 million Pi tokens are expected to enter circulation this month alone, with 1.4 million already unlocked on April 11 alone. The remaining tokens will be released gradually throughout the rest of the month.
Community Frustration Grows Over Delays and Lack of Transparency
As prices tumble, discontent within the Pi Network community is reaching new highs. Recetly, Pi Network Turkey, the project’s largest community group in the region, issued a strong statement criticizing the core team’s handling of the project.
The group accused Pi Network developers of adopting a top-down management style, ignoring community feedback, and straying from the platform’s original decentralized vision. “What we once eagerly anticipated has now turned into disappointment,” the statement read, stressing broken promises, lack of transparency, and indefinite delays to the Open Mainnet launch.
The group also pointed to unclear financials, vague details on partnerships, and little visibility into the actual number of live decentralized applications (dApps) on the network.
Is Pi Network Losing Trust?
Some analysts believe the sharp decline in Pi’s value is being driven not only by token unlocks but also by widening skepticism about the project’s long-term vision and deliverables. As concerns mount over whether Pi Network is truly building a meaningful Web3 ecosystem — or simply riding the crypto hype — the project’s credibility appears to be at risk.
Pi Coin is currently trading at $0.59, struggling to break above key resistance at the $0.60 level. The drop follows a steep decline in recent days, with the token down over 30% in the last 14 days and more than 80% below its February 26th peak.
The price pressure comes as a massive token unlock continues to unfold. According to PiScan, more than 119 million Pi tokens are expected to enter circulation this month alone, with 1.4 million already unlocked on April 11 alone. The remaining tokens will be released gradually throughout the rest of the month.
Community Frustration Grows Over Delays and Lack of Transparency
As prices tumble, discontent within the Pi Network community is reaching new highs. Recetly, Pi Network Turkey, the project’s largest community group in the region, issued a strong statement criticizing the core team’s handling of the project.
The group accused Pi Network developers of adopting a top-down management style, ignoring community feedback, and straying from the platform’s original decentralized vision. “What we once eagerly anticipated has now turned into disappointment,” the statement read, stressing broken promises, lack of transparency, and indefinite delays to the Open Mainnet launch.
The group also pointed to unclear financials, vague details on partnerships, and little visibility into the actual number of live decentralized applications (dApps) on the network.
Is Pi Network Losing Trust?
Some analysts believe the sharp decline in Pi’s value is being driven not only by token unlocks but also by widening skepticism about the project’s long-term vision and deliverables. As concerns mount over whether Pi Network is truly building a meaningful Web3 ecosystem — or simply riding the crypto hype — the project’s credibility appears to be at risk.
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