I just noticed that PI is becoming a major focus of the market lately. The current price is around $0.18, a slight increase from the February closing level of $0.17. Interestingly, the positive market sentiment toward PI is now ranked second highest according to data from CoinMarketCap, compared to other well-known altcoins like XRP, ADA, and ETH.
The main reason behind this surge is what Pi Network has achieved over the past few months. In February of last year, the team launched the official open network, a pivotal milestone that made PI accessible to the general public and allowed exchanges to list it for trading. Additionally, they celebrated the first anniversary of this milestone with the announcement of several major updates.
One of the most significant developments is the completion of protocol version 19.6, meaning version 19.9 is the final step before the long-anticipated version 20. The team warned that nodes need to update immediately, as outdated versions will no longer be able to participate in the network. Shortly after, they launched the long-awaited ecosystem token design, a framework to ensure that new tokens on the Mainnet are linked to real utility rather than speculation.
Interestingly, co-founders Chengdiao Fan and Nicolas Kokkalis responded to questions about the controversial KYC process, the organization’s entry into the AI sector, and other intriguing topics.
Currently, community attention has shifted to March 14, Pi Day, which resembles the value of pi π (3.14). The team celebrated this day last year by expanding the ecosystem, but it’s still unclear what plans they have for this year.
However, there are some concerns. Data shows that the unlocking of PI tokens will be quite aggressive in the coming weeks, with March 7 marking a peak when nearly 21 million coins will be released. This large unlock does not guarantee a price drop but does present an opportunity for some investors to sell assets they have been waiting for.
Another notable point is that the amount of PI stored on centralized platforms has been steadily increasing, currently around 435 million tokens. This trend is considered negative because the rising supply on exchanges increases the likelihood of large-scale sell-offs. PI may face short-term downward pressure from supply-side factors, even though the community remains highly optimistic about long-term development.
