Is a Pi Network Crash Ahead As 272M Coins Unlock in July
The post Is a Pi Network Crash Ahead As 272M Coins Unlock in July appeared on BitcoinEthereumNews.com. Pi Coin price is on the brink of a major bearish breakdown if it loses a crucial support level. A potential catalyst for this Pi Network crash will be this month’s token unlock, which is its biggest one until 2027. The Pi Network value trades at $0.4565 today, July 7, down by 72% from its highest level in May and much lower than its all-time high. Pi Coin Crash Possible Ahead of 272 Million Unlocks Pi Coin price faces a major risk this month that could push it much lower in the coming months. Data shows that the amount of tokens in circulation will increase significantly this month as the network unlocks over 272 million tokens currently worth over $106 million. This token unlock occurs when the Pi Foundation releases tokens to the market, thereby increasing the number in circulation. These unlocks increase the circulating supply, which can negatively impact the price, particularly when demand is limited. This month’s token unlock is notable because it will be the highest one until December 2027, when over 432 million tokens will be unlocked. Following this unlock, monthly releases will occur over the next three consecutive months, after which they will resume in December, when over 472 million tokens will be released. Pi Network Token Unlocks Most cryptocurrencies unlock their tokens periodically. Pi Network’s risk is the volume of the tokens it plans to release over the years. CoinMarketCap data shows that Pi has a maximum supply of 100 billion tokens and a circulating one of 7.6 billion, meaning that 92.7 billion coins will be released in the future. The ongoing token unlock likely explains why the Pi Coin price has remained under pressure after major developments. For example, the network launched the $100 million ecosystem fund in May. It also launched the…
The post Is a Pi Network Crash Ahead As 272M Coins Unlock in July appeared on BitcoinEthereumNews.com.
Pi Coin price is on the brink of a major bearish breakdown if it loses a crucial support level. A potential catalyst for this Pi Network crash will be this month’s token unlock, which is its biggest one until 2027. The Pi Network value trades at $0.4565 today, July 7, down by 72% from its highest level in May and much lower than its all-time high. Pi Coin Crash Possible Ahead of 272 Million Unlocks Pi Coin price faces a major risk this month that could push it much lower in the coming months. Data shows that the amount of tokens in circulation will increase significantly this month as the network unlocks over 272 million tokens currently worth over $106 million. This token unlock occurs when the Pi Foundation releases tokens to the market, thereby increasing the number in circulation. These unlocks increase the circulating supply, which can negatively impact the price, particularly when demand is limited. This month’s token unlock is notable because it will be the highest one until December 2027, when over 432 million tokens will be unlocked. Following this unlock, monthly releases will occur over the next three consecutive months, after which they will resume in December, when over 472 million tokens will be released. Pi Network Token Unlocks Most cryptocurrencies unlock their tokens periodically. Pi Network’s risk is the volume of the tokens it plans to release over the years. CoinMarketCap data shows that Pi has a maximum supply of 100 billion tokens and a circulating one of 7.6 billion, meaning that 92.7 billion coins will be released in the future. The ongoing token unlock likely explains why the Pi Coin price has remained under pressure after major developments. For example, the network launched the $100 million ecosystem fund in May. It also launched the…
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