PiFest Fuels Open Market Hopes

Tech

PiFest Fuels Open Market Hopes

• Pi Coin hits All-Time Low (~$0.53), down >12% on token unlocks & Binance snub
• 4.9B PI unlocked (1.5B more coming); KYC issues persist, only 14M/60M migrated
• $0.50 support critical; PiFest adoption provides counter-signal to price woes

Pi Coin plunged to an all-time low near $0.53 this week, marking a decline of over 12% before trading around $0.55 at press time.

This sharp drop contrasts sharply with excitement following Pi Networks mainnet launch in February 2025, when the coin had peaked to $2.98.

Token Unlocks, Binance Snub Fuel Decline

The price downturn is largely attributed to the continuous unlocking of Pi tokens. According to Alex Obchakevich, founder of Obchakevich Research, the network has unlocked 4.9 billion PI so far, with another 1.54 billion set to be released over the year. This increase in supply has put downward pressure on the coins value.

Compounding the pressure, Pi Network‘s exclusion from Binance’s latest “Vote to List” event for a second time frustrated community members.

This continued absence signals ongoing concerns from major exchanges regarding the projects compliance, transparency, and tokenomics clarity. Slow KYC migration (only 14M of 60M users migrated) and reported communication issues from the development team add to the challenges.

Pi Price Technical Levels: $0.50 Support Critical

Currently, Pi Coin risks falling below the critical $0.50 support level. For recovery, Pi Coin needs to reclaim the $0.60 level, facing subsequent resistance points near $0.65, $0.70, and $0.80.

While CoinMarketCap charts show some recent buyer interest trying to defend current levels, overall institutional sentiment appears mixed, and retail sentiment leans bearish following the recent news.

PiFest Adoption Offers Contrasting Signal

Despite the market headwinds, PiFest 2025, Pi Networks first-ever global commerce event, showed growing adoption, with over 125,000 registered sellers and 1.8 million Pioneers engaging in local commerce.

The question remains whether this utility can eventually translate to value recognized by the broader “open market” via major exchange listings.