Pi Network (PI) Price Crash: Token Unlock and Binance Uncertainty Weigh Heavy

• Pi Network (PI) has crashed a whopping 19% in the past 24 hours, dropping to 17th position. 
• A massive 129 million PI tokens, worth $140.61 million, will hit the market. 
• Despite Binance’s community voting in favor of a PI listing, the CEX hasn’t made an announcement.

Pi Network (PI) has seen its price take a significant hit, dropping 19% in the last day to trade around $1.09, according to the latest data from CoinMarketCap. This slide has also pushed Pi Network down the cryptocurrency rankings, from the 11th spot to 15th, as of writing. 

A key indicator of the market’s reaction is the massive 70% surge in trading volume, signaling a rush to sell.

While there was considerable initial excitement surrounding Pi Coin, recent times have been tougher. The lack of major updates and key announcements seems to be adding to the pressure, leading to a more negative sentiment among investors.

PI Token Unlock and Market Sentiment

The primary driver behind this latest price drop appears to be the upcoming release of Pi tokens. We’re talking about roughly 129 million Pi Coins, which translates to a hefty $140 million hitting the open market. 

Historically,…

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