Pi Network Unlocks 119 Million Tokens, Community Discontent Grows

Pi Network, a prominent cryptocurrency project, is poised to release 119 million Pi tokens into circulation by the end of this month. According to PiScan, a platform that monitors Pi Network activities, 1.4 million tokens have already been unlocked on April 11. This substantial release of tokens is anticipated to influence the market dynamics of Pi Coin, which is currently valued at $0.59. The unlocking of these tokens could potentially affect the price and trading behavior of Pi Coin, as more tokens become available for trading and investment.

The release of 119 million Pi tokens is a significant event for the Pi Network community and the broader cryptocurrency market. The unlocking of these tokens could lead to increased liquidity and trading volume, which may impact the price stability and volatility of Pi Coin. Investors and traders will be closely monitoring the market to assess the impact of this token release on the overall cryptocurrency landscape. The Pi Network has been gaining traction in recent years, with a growing user base and increasing interest from the investment community. The release of these tokens is a significant milestone for the project, as it marks a step towards greater decentralization and wider adoption of the Pi Coin.

As prices tumble, discontent within the Pi Network community is reaching new highs. Recently, Pi Network Turkey, the project’s largest community group in the region, issued a strong statement criticizing the core team’s handling of the project. The group accused Pi Network developers of adopting a top-down management style, ignoring community feedback, and straying from the platform’s original decentralized vision. “What we once eagerly anticipated has now turned into disappointment,” the statement read, stressing broken promises, lack of transparency, and indefinite delays to the Open Mainnet launch.

The group also pointed to unclear financials, vague details on partnerships, and little visibility into the actual number of live decentralized applications (dApps) on the network. Some analysts believe the sharp decline in Pi’s value is being driven not only by token unlocks but also by widening skepticism about the project’s long-term vision and deliverables. As concerns mount over whether Pi Network is truly building a meaningful Web3 ecosystem — or simply riding the crypto hype — the project’s credibility appears to be at risk.