Pi Coin Drops Sharply by 13% Just Before Unlocking Over 254 Million Tokens, Market Capitalization “Evaporates” $1.1 Billion

The Pi Coin market (PI) has just gone through a strong adjustment as the price fell sharply within 24 hours, from a daily peak of 1.55 USD to only 1.07 USD, equivalent to a decrease of 13.10%. This decline has caused the market capitalization of PI to "evaporate" by 1.1 billion USD, currently only about 7.6 billion USD – according to data from CoinMarketCap. Selling pressure increased sharply as trading volume rose by nearly 50% During the same period, the 24-hour trading volume of PI increased by 49.07%, reaching 1.96 billion USD. The volume-to-market cap ratio (volume-to-market cap ratio) currently stands at 26.17% – a quite high level, indicating that selling pressure is clearly dominant in the short term. Although the price has slightly rebounded to nearly 1 USD, the price chart pattern shows that after a sharp drop, the recovery attempt cannot be sustained and continues to weaken at the beginning of May 13.

The fully diluted valuation of PI reached over 107 billion USD, but the circulating supply accounts for less than 10%. One of the main reasons why the price fluctuations of Pi Coin are sensitive is due to the large discrepancy between the maximum total supply and the current circulating supply. Currently, there are only about 7.08 billion PI circulating in the market, while the maximum total supply of the project is 100 billion PI – corresponding to a fully diluted valuation of ( of over 107.21 billion USD. This makes the price of PI easily subject to strong fluctuations in the context of large speculative cash flow and a low actual supply compared to the potential to be unlocked. Unlocking 254.99 million PI in the next 30 days – risk of a surge in selling pressure The market is paying special attention to the upcoming token unlock schedule of the Pi Network. Accordingly, a total of 254.99 million PI will be unlocked in the next 30 days – equivalent to about 276.38 million USD at the current price. This amount represents about 4.95% of the total tokens currently locked at around 5.15 billion PI.

On average, approximately 8.5 million PI will be released each day, equivalent to nearly 9.21 million USD. The peak unlocking days fall on the dates 15–17/5, 23/5, and 6/6. In particular, May 16 is expected to witness the largest unlocking amount – 14.75 million PI ) nearly 16 million USD ( will be put into circulation. Experts monitoring the flow of tokens warn that large unlocks like these, especially with projects that have a low circulating supply and high speculative demand like Pi Network, often lead to significantly increased selling pressure in the market. Expectations have not yet materialized: System updates and listing rumors are not enough to maintain prices. Before the fall, the price of PI had surged after the announcement on May 8 on the X platform )Twitter(, when the Pi Network development team hinted at an upcoming important update. Although the specific content has not yet been fully disclosed, the community hopes this will be a significant advancement in the Pi ecosystem. In fact, Pi Network has made an update to the Mainnet, separating the wallet activation process from the token migration. The goal of this change is to help more users easily participate and interact with the Pi blockchain. However, this event seems to be insufficient to sustain demand in the market, as investors increasingly focus on short-term supply-demand factors, especially the unlocking of a large amount of PI tokens in the near future. Conclusion The sharp fall in the price of Pi Coin, combined with a sudden spike in trading volume and the schedule for unlocking hundreds of millions of tokens, indicates that the market is facing significant pressure in the short term. Investors need to cautiously monitor supply-demand dynamics and the official updates from Pi Network to make informed decisions in the current context.