Pi Network Faces Price Pressure as 5.7 Million Pi Coins Unlock Today

Pi Coin has lost over 50% in value in the past week, stabilizing around $0.70. Today, 5.7 million Pi tokens are unlocking, which may increase supply and apply further downward pressure on the price.

Key points include:

• 5.7 million Pi tokens will be unlocked today
• Record high of 397 million Pi coins held on exchanges
• Concerns about selling pressure following token unlocks
• Accusations against the Pi Core Team for managing over 10,000 wallets, with only seven being traceable
• Community dissatisfaction with the recent $100 million launch of Pi Network Ventures
• Pi Coin dropped another 18% during a public appearance by founder Nicolas Kokkalis
• 86% of the community voted for a listing on Binance, but no progress has been made

Despite community advocacy, credibility issues regarding Pi Coin persist as it remains unlisted on major exchanges like Binance.