Pi Network, a mobile-first cryptocurrency platform, with its native token Pi Coin has recently experienced an uptick of 9% and was seen trading at $0.595 today, April 8, 2025. The platform is said to be experiencing a mix of positive and negative indicators as it makes it way through the volatile crypto market. In the recent development, there have been significant token purchases, upcoming unlocks and price fluctuations. Lets have a look at these developments one by one.
Token Purchases and Community Trust
According to Onchain Analyst Moon Jeff, in the last 24 hours, approximately 1.2 million PI tokens were purchased from Banxa, which indicates the trust in the platform by the community. This buying also indicates that there could be a growing demand due to increased utilities and adoption.
Two major Banxa wallets, “URB” and “LDB,” each saw a reduction of about 600,000 Pi token, moving from 15.3 million to around 14.7 million and 14.6 million. This is also an indication that the users are actively engaging with the network, which could be a positive sign for its long-term viability.
Pi Network’s Token Price and Market Sentiment
The native token of the network has shown a positive uptick today. There was an increase of 9% in the price of the token earlier today. This uptick indicates renewed investor interest. However, the market is currently volatile and uncertain and the Pi network is not resistant to these downturns.
At press time, the price of the token stands at $0.58 with a surge of 5.6% in the last 24 hours as per CoinGecko.
Token Unlocks and Supply Concerns
According to the analyst Moon Jeff, around 944,000 Pi tokens are set to be unlocked today, April 8, 2025. This unlock could cause a surge in the supply of the tokens available in the market. This move could potentially impact the Pi Network’s token price as the market usually responds negatively to increased token supply.
According to the analyst, this amount of tokens that will be unlocked today is comparatively less than what is yet to be unlocked after April 15.
Exchange Activity
In the past 24 hours, around 2 million Pi tokens have been sent to exchanges. This brings the total to 333.1 million according to Moon Jeff.
Major exchanges such as OKX and Bitget hold a significant amount. OKX holds 134 million and Bitget holds 76 million tokens. This move has the ability to influence market liquidity and price stability, all because more Pi token will be made available for trading.
Future Outlook
Moon Jeff, the Onchain analyst, posted yesterday on social media platform X (formerly known as Twitter) predicting that the Pi Network token could reach $3 by June 2025.
According to the Onchain by the month of June 2025, there could be favourable developments such as token burn, exchange listing from Coinbase, which could lead to market recovery and increased adoption of the Pi Coin.
However, concerns about token unlocks and supply management could impact the coin’s value as well.
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