Pi Network Faces Supply Pressure as Major Token Unlocks Begin

The Pi Network is facing a critical moment as major token unlocks start in Q2 2025, with over 212 million Pi tokens set to be unlocked in May alone. Trading volume has plummeted by 96%, while exchange holdings have doubled in just three months. These developments present challenges for the project’s price stability in the coming months. The influx of supply into the market comes as a result of major unlock events, with over 387 million Pi tokens currently held on exchanges. This rapid growth is raising concerns about increased sell pressure from investors holding onto these tokens.