{"id":67407,"date":"2025-05-19T12:53:48","date_gmt":"2025-05-19T12:53:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=67407"},"modified":"2025-05-19T12:53:48","modified_gmt":"2025-05-19T12:53:48","slug":"pi-network-pi-hits-a-new-ath-but-its-not-what-you-think","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=67407","title":{"rendered":"Pi Network (PI) Hits a New ATH, But It\u2019s Not What You Think"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Nearly 400 million PI tokens are now held on exchanges, with major unlocks ahead, raising concerns about increased sell pressure and potential downside risk.<\/span>
\nAfter a sharp rally driven by speculation and excitement, PI dropped over 50% following the project\u2019s $100M initiative reveal, reflecting a classic \u201cbuy the rumor, sell the news\u201d pattern.<\/p>\n

<\/a><\/span><\/h2>\n

PI Peaks on This Front<\/h2>\n

Earlier today (May 19), the X user MOON JEFF (who often touches upon different news about Pi Network) <\/span>estimated<\/span><\/a> that the number of PI tokens on exchanges had reached an all-time high of almost 400 million.<\/span><\/p>\n

OKX leads the pack, with a balance of over 117 million coins, while Bitget comes second with a stash of approximately 107.7 million.<\/span><\/p>\n

MOON JEFF added that the figure might rise further after the unlocks scheduled for the next 24 hours. Data <\/span>shows<\/span> that over 7 million coins will <\/span>be released<\/span> on May 19<\/span>, whereas the total unlock set for the following 30 days equals almost 270 million PI. The record day <\/span>is expected<\/span> to be May 28, when <\/span>more than 15 million tokens will be freed up<\/span>.\u00a0<\/span><\/p>\n

<\/a>PI Token Unlock Schedule. Source: Piscan<\/p>\n

The <\/span>aforementioned factors<\/span> suggest a potential bearish perspective for the price in the short term. The inflow of assets to exchanges could indicate that holders are preparing to cash out. The major token unlocks also increase the selling pressure since it will give some investors the opportunity to part with coins they\u2019ve been waiting for a long time. <\/span><\/p>\n

Price Outlook<\/span><\/h2>\n

PI was at the forefront of gains between May 8 and May 12. Back then, the team behind Pi Network <\/span>infused<\/span><\/a> excitement by promising to publish a big announcement in the following week. Some X users speculated the upcoming disclosure could be the long-awaited asset listing on Binance. The hype could have been among the reasons that fueled a sharp rally, sending the price soaring nearly 200% to over $1.70, its highest in two months.<\/span><\/p>\n

On May 14, the project <\/span>disclosed<\/span><\/a> the launch of a $100 million initiative (held in PI and USD) to invest in startups and businesses that \u201cadvance the utility and\u00a0<\/span>real-adoption<\/span> of PI.\u201d\u00a0<\/span><\/p>\n

The coin\u2019s valuation dropped significantly shortly before and especially after the announcement. The downtrend continued, and PI tumbled to a local bottom of nearly $0.65 in the following days, resembling a classic \u201cbuy the rumor, sell the news event.\u201d<\/span><\/p>\n

In the past few days, PI has recovered some of its losses and currently trades at around $0.72 (per CoinGecko\u2019s data), but this still represents a whopping 52% weekly decline.
\n<\/span><\/p>\n

<\/a>PI Price, Source: CoinGecko<\/p>\n

The post Pi Network (PI) Hits a New ATH, But It\u2019s Not What You Think<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Nearly 400 million PI tokens are now held on exchanges, with major unlocks ahead, raising concerns about increased sell pressure and potential downside risk. After a sharp rally driven by speculation and excitement, PI dropped over 50% following the project\u2019s $100M initiative reveal, reflecting a classic \u201cbuy the rumor, sell the news\u201d pattern. PI […]<\/p>\n","protected":false},"author":0,"featured_media":67408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-67407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67407"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67407"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/67407\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/67408"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}