Pi Network’s PI slumps toward its October low as US-EU trade tensions spike and over 4.6M daily unlocks fuel mounting selling pressure.
Summary
- Pi Network’s PI dropped sharply in 12 hours, trading near its October all-time low after a long period of stagnation.
- The slide followed new US tariffs that escalated trade tensions with the EU and rattled global markets when Asia opened.
- Heavy daily token unlocks above 4.6M PI continue to add selling pressure and raise concerns about further downside.
Pi (PI) Network’s native token declined sharply over a 12-hour period, approaching its October all-time low after weeks of price stagnation, according to market data.
PI is trading around 0.189 USD, down roughly 7–8% over the last 24 hours.
The cryptocurrency’s decline coincided with broader market volatility triggered by escalating trade tensions between the United States and the European Union. The U.S. President announced a new set of tariffs against eight countries as part of efforts to purchase Greenland from Denmark, according to official statements.
The European Union responded by convening an emergency meeting. French President Emmanuel Macron called for the union to deploy a “trade bazooka” that would substantially restrict U.S. access to European markets, according to reports.
Cryptocurrency markets initially remained stable as these geopolitical developments unfolded, but declined when Asian stock markets and futures opened, market data showed. The Pi token, which had avoided volatility during previous market fluctuations, experienced significant losses during this episode.
The token did not participate in the early January rally when Bitcoin surged and numerous altcoins posted double-digit percentage gains, according to price data.
Token unlock schedules may contribute to price instability, according to industry analysts. Data from PiScanUnlock indicates that the average number of daily token unlocks exceeds 4.6 million, which could create selling pressure as investors gain access to previously locked coins.
The Pi Network token reached its previous all-time low in October, according to historical price records.
Source: https://crypto.news/pi-network-bulls-tested-as-token-sinks-on-volatility-and-4-6m-daily-unlocks/
