ATL sales continue for Pi Network's PI cryptocurrency - Investigator inquiries into sellers
In a turbulent week for the cryptocurrency market, the Pi Network's native token (PI) has taken a significant hit, plummeting by more than 30% in the past month and further crashing by 16% in the last 24 hours. The token has reached a new all-time low of $0.34 on CoinGecko today, breaking the previous record set yesterday.
The primary sellers driving this price decline are holders involved in the large token unlock event scheduled for August 2025. About 156-160 million PI tokens (roughly 2.1% of total supply) are being released and becoming available for trading, creating increased selling pressure. This significant token unlock has resulted in the daily number of freed coins frequently exceeding 10 million.
However, relief may be on the horizon. Data from PiScan suggests potential relief in the near future due to reduced token unlocks. The average number of coins released for the next month is expected to be 5.3 million, significantly fewer than the 7+ million in June and July. In fact, only two days in the next month will see more than 7.5 million coins released.
The reduced selling pressure may help stop the freefalls, at least temporarily, for the Pi Network's native token. Analysts like Moon Jeff are questioning who is selling at such low levels, as the reduced average of 5.3 million coins to be released in the next month is a significant decrease from previous averages.
The Pi Network's slump is not an isolated incident. The total market cap of the cryptocurrency industry has decreased significantly in the past few days, with more than $250 billion evaporating from the total market cap. Bitcoin's price has tumbled to multi-week lows of under $113,000, another blow to the industry's confidence.
This correction in the cryptocurrency market is not solely attributed to the Pi Network's token unlock. Many altcoins have crashed by 5-10% in the past few days, reflecting a bearish overall market environment influenced by external factors such as new tariff regulations.
In addition to these large unlock sellers, many individual investors who bought tokens at higher prices are selling at a loss to limit their losses amid falling confidence in PI following technical issues, failed transactions, and the bearish market environment. The surge in transaction failures (about 58% failure rate on roughly 200K daily transactions) and delays or issues with fiat purchasing integrations have further undermined user confidence, prompting more sell-offs.
In short, a combination of large token unlock-induced supply pressure from early holders or insiders and widespread panic or loss-cutting selling by retail investors facing technical and broader market downturns are driving PI’s low-level sell-offs during this recent crash. Despite the current challenges, the reduced token unlocks could potentially reduce immediate selling pressure for the Pi Network's native token, offering a glimmer of hope for its recovery.
Crypto traders are closely monitoring the Pi Network's native token (PI), given its substantial drop in price due to a large token unlock event scheduled for August 2025. This sell-off has also impacted the overall cryptocurrency market as many altcoins have crashed by 5-10% in response to the bearish market environment. In light of this, investors are looking for potential relief as the average number of coins released for the next month is expected to be significantly fewer than the previous averages.
During times of market turbulence, understanding the factors affecting the value of various cryptocurrencies, such as the Pi Network's native token, is crucial for investors involved in crypto trading and investing in the finance sector. Buyers may use this information to anticipate potential price rebounds or consolidate their position while sellers might find opportunities to capitalize on the depreciating values of altcoins.
While the Pi Network's slump has been influenced by multiple factors, including technical issues, failed transactions, and market downturns, the reduced token unlocks could help alleviate the immediate selling pressure and provide a positive outlook for the token's recovery. As more data emerges, traders and investors will adjust their strategies accordingly, focusing on managing risk and maximizing returns in the ever-evolving crypto market.
