YEREVAN (CoinChapter.com) — Pi Community will unlock 188 million PI tokens in March, distributing them to greater than 1.1 million customers. It is a bigger launch in comparison with earlier months. Nonetheless, the promoting strain could stay restricted, as many customers maintain their PI tokens for prolonged intervals.
Regardless of the elevated provide, demand for PI tokens stays robust. On the similar time, Binance’s itemizing delay has triggered backlash from the Pi Community group. Supporters have criticized the alternate, with some customers leaving unfavorable critiques on its app.
Pi Community Beneficial properties Market Recognition
Since its mainnet launch on Feb. 20, PI token has skilled vital price motion. The price surged practically 100%, reaching $2.99 earlier than seeing corrections. Regardless of earlier considerations, the Pi Community group continues to push for wider adoption.
At the moment, PI is buying and selling at $1.8704 on OKX, reflecting a 0.77% decline within the final buying and selling session. The price has stabilized after current volatility, with buying and selling quantity reaching 1.02 million PI tokens.
Following its peak, PI skilled a pointy drop however later discovered assist above $1.80. Over the previous few days, the price has been consolidating, sustaining a gentle upward development. If the market momentum continues, additional motion towards the $2.00 resistance degree might comply with.
Final week, CoinMarketCap didn’t replace PI’s market cap, however the platform modified its place yesterday. Now, PI token ranks eleventh available in the market, forward of Hedera, Chainlink, and Stellar (XLM).
On CoinMarketCap, 91% of customers stay bullish on PI token. The 188 million token unlock has generated additional dialogue inside the Pi Community group as extra customers achieve entry to their holdings.
March Unlock and PI Token Promoting Strain
A token unlock of PI tokens might have an effect on market exercise. Nonetheless, numerous Pi Community customers are holding their tokens long-term, lowering rapid promoting strain.
Based on ExplorePi information, there are 11.5 million Pioneer accounts. Amongst them, about 7.25 million accounts (63%) lock their PI tokens for 3 years, whereas 1.6 million accounts (14%) have a one-year lock interval. With these numbers, PI token’s provide enhance could not instantly flood the market.
Final month, Pi Community distributed the most important airdrop in crypto historical past, growing exercise. The upcoming PI token unlock provides one other layer of distribution, with thousands and thousands of customers set to obtain their allocations.
Binance Faces Backlash Over Pi Community Itemizing
Just lately, Binance hosted a group vote on itemizing PI token, with robust assist for the addition. Nonetheless, the alternate has not moved ahead, resulting in frustration from Pi Community customers.
Supporters have responded by review-bombing Binance’s Google Play Retailer scores, demanding motion. Whereas Binance has indirectly talked about Pi Community, the alternate addressed the problem by way of a press release:
“Before listing cryptocurrencies, Binance will check and consider many factors including liquidity and trading volume in the market.”
Most of those reactions have come from Pi Community’s strongest markets in Asia. Just lately, Vietnam’s authorities issued a warning about PI token, and Bybit CEO Ben Zhou reminded customers that China had issued comparable warnings years in the past.
In a put up on X, Ben Zhou referenced a Chinese language police warning from 2023, which labeled Pi Community as a possible rip-off. Based on him, authorities cautioned that the challenge focused aged people, resulting in information leaks and monetary losses. Zhou additionally dismissed claims that Bybit rejected a Pi Community itemizing request, stating that no such request was ever made.
He additional criticized Pi Community’s group, arguing that as a substitute of addressing considerations, supporters resorted to private assaults and baseless accusations.
“Yes, I still think you are a scam, and no, Bybit will not list scam,” Zhou wrote.
Binance Itemizing for Pi Community Stays Unclear
The Binance itemizing for Pi Community (PI) stays unsure regardless of robust group backing. A Binance group vote noticed 86% of customers in favor of itemizing PI, but the alternate has not moved ahead with the method.
Frustration amongst Pi Community supporters is rising. A person wrote.
Amid the backlash, Pi Community co-founder Chengdiao Fan addressed the scenario, urging customers to remain centered.
“Pioneers, don’t let the noises disrupt you. Focus on what matters and what makes a difference in the crypto space and in the world,”
she said.
Fan emphasised that constructing and creating the ecosystem ought to stay the precedence.
Pi Community Surpasses 4 Million Followers on X, Closing in on Dogecoin
Pi Community has surpassed 4 million followers on X , marking one other milestone for the mobile-friendly crypto challenge. This places its social media presence forward of main blockchain networks like Ethereum (ETH) and BNB Chain.
The official Pi Community crew acknowledged the achievement in a put up, stating:
“Pi Network now has over 4 million followers on X! Congratulations to everyone in the Pi community for supporting Pi and making this possible.”
Pi Community’s rising social media presence is just not its solely space of growth. The challenge can also be seeing a surge in Google Play Retailer downloads.
Based on current information, the Pi Community app has been downloaded over 113.2 million instances. Over the previous month, the platform has averaged 270,000 new day by day downloads, highlighting its growing adoption.
With its fast follower development, Pi Community is now simply 300,000 followers away from surpassing Dogecoin (DOGE) on X.
Pi Community’s Group Stays Energetic
The Pi Community group continues to push for extra alternate listings. Nonetheless, some customers have drawn consideration for his or her social media exercise.
With over 11.5 million customers and wider market recognition, Pi Community stays lively within the crypto area. Whether or not main exchanges like Binance will checklist PI token after the March unlock stays to be seen.