Pi Coin has experienced a sharp decline in market value, losing around 70% of its value from its peak.
Around 105 million PI tokens worth around $85 million are also set to be unlocked next month, which could also put pressure on the price.
Pi Coin has fallen significantly from its all-time high of $2.98 recorded last month and is currently trading at around $0.80. Investor sentiment remains bearish as the asset has lost around 70% of its value in just one month.
Pi Coin’s market cap currently stands at around $5.48 billion with a market cap of 0.203%, marking a significant drop from its previous ranking, when it once held a position among the top 15 cryptocurrencies.
PI Network has continued its mainnet migration process by switching from phone number-based authentication to email-based Know Your Customer (KYC) verification. However, the biggest concern for investors is the upcoming mass token unlocks. 105 million PI tokens will be unlocked in the next 30 days, with the largest single-day unlock of 6.8 million tokens scheduled for April 3.
*This is not investment advice.
