Pi Network (PI) Rally Stalls Ahead of 255M Token Unlock

Pi Coin (PI) suffered a setback in its rally with a sharp drop in price and a reduction in market capitalization by $1.1 billion.

Pi Network’s upcoming token unlock schedule over the next 30 days adds significant uncertainty to Pi Coin’s short-term price action.

Pi’s fully diluted valuation stands at $107.21 billion, based on its total max supply of 100 billion PI. However, only 7.08 billion PI are currently in circulating supply.

Pi Network is preparing to unlock 254.99 million PI tokens over the next 30 days, starting on May 13.

This upcoming token unlock schedule is a major news story that may attract attention and raises supply-side concerns.

A total of 254.99 million PI, valued at approximately $276.38 million, will be released over the next month.

This represents 4.95% of Pi’s currently locked supply of 5.15 billion PI. On average, about 8.5 million PI worth $9.21 million will be unlocked daily.

Peak unlock days fall on May 15–17, May 23, and June 6. The largest single-day unlock is scheduled for May 16, when 14.75 million tokens, worth nearly $16 million, will enter circulation.

Analysts tracking token flows note that higher unlock volumes often coincide with increased sell-side activity, particularly in assets with low float and speculative demand.

Pi’s recent price surge was driven by an announcement posted on X on May 8, which hinted at an upcoming update. Many in the community are interpreting this update as a big development for the Pi ecosystem.

However, Pi Network recently introduced changes to its Mainnet that separated wallet activation from migration, enabling more users to interact with the blockchain.

The project started this update to improve access and boost Mainnet participation.