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$PI Pi Network leads the decline after a rally of v25, due to the unlocking of 776 million tokens?
Pi has fallen more than 10% in the past 24 hours, despite trading volume rising by about 35%. The sell-off came after PI jumped 11% a few days earlier due to protocol upgrade v25. The sell pressure is believed to be driven by profit-taking and the upcoming token unlock schedule. The selling pressure on PI is stronger than in the broader market.
At the token level, PI has experienced more intense sell-offs, while Bitcoin has recorded a drop in trading volume. This lack of synchrony suggests that PI’s sell pressure is not solely from broader market trends. PI’s trading volume rising during a price downturn usually reflects higher attention, but this time the fund flows are mainly skewed toward selling. This makes PI’s decline more distinctive than BTC’s.
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