Recently, I noticed that PI Network has been making some quite interesting moves in the market. The mainnet officially launched at the beginning of February last year, along with a series of updates to protocol v19.6 and the ecosystem token that the community has been waiting for a long time. Exchanges have also started offering services with it, so PI is beginning to attract more attention.

What’s interesting is that on CoinMarketCap, PI currently has the second-highest positive sentiment today, only after Kaspa. It closed last month at around $0.17 with a 10% monthly increase, and is still trading around that level. Some people on X are even confused about why a coin like PI would have such a strong bullish sentiment.

But according to data, there are some factors to watch. The amount of PI on centralized exchanges has recently increased to about 435 million tokens, and in the next few weeks, there will be a significant token release, peaking on March 7 with nearly 21 million tokens issued. This could present an opportunity for long-term holders to sell some.

The Pi Network community is currently waiting to see what new developments will happen on March 14 (Pi Day), as last year they also used this occasion to announce major progress. Although there are optimistic price predictions, there may be a short-term correction as selling pressure increases.