I’ve been paying attention to Pi Network over the past few days, and it turns out the community sentiment is quite bullish. Last month, Pi Network officially launched its open network, and there were several important updates in their ecosystem—the v19.6 protocol is completed, and v20 is already on the horizon. The founder also briefly answered some controversial questions about KYC and expansion into the AI sector.

The price of PI is still holding at $0.17, even though there are some technical factors that need to be considered. Interestingly, according to on-chain data, the amount of PI on exchanges has risen to around 435 million tokens—this is usually a bearish signal because exchange supply is increasing. On top of that, over the next few weeks there will be fairly aggressive token unlocks, with the peak on March 7, when nearly 21 million coins are released.

The Pi Network community is also eagerly waiting for Pi Day (14 Maret), because last year they announced a major expansion on that date. Some traders have already started speculating, but if you look at the data, the token unlocks and exchange supply could become a source of pressure. It might be worth monitoring first before jumping in.