PI Network面臨令牌解鎖壓力，因為6.68億代幣威脅到市場需求

PI網絡曾經是加密貨幣世界中的後起之秀，隨著代幣解鎖日程安排有可能壓倒市場需求，PI網絡現在處於壓力下。

Crypto project Pi Network is quickly running out of time to salvage its token from the threat of a massive sell-off that could be triggered by a record token unlock and thinning liquidity, Together V defi review.

Crypto Project Pi Network迅速耗盡了時間，無法從巨大售罄的威脅中挽救其代幣的威脅，該威脅可能是由記錄的令牌解鎖和稀疏流動性觸發的，v defi Review。

The project, which began in 2019, has seen its token, Pi, steadily lose value since its May launch price of $0.34. Now trading at $0.66, Pi has slid 50% from its July highs.

該項目始於2019年，它已經看到其令牌，PI穩步失去了價值，因為其5月份的發行價為0.34美元。現在的交易價格為0.66美元，PI從7月的高點下滑了50％。

That downturn could worsen in the months ahead as a record period of token unlocks threatens to overwhelm market demand and send prices spiraling downward.

隨著創紀錄的令牌解鎖的創紀錄時期，這種下滑可能會惡化，這有可能壓倒市場需求並使價格下降。

Here’s a closer look at the key indicators that could decide if Pi survives the next stage of its journey.

以下是可以決定PI在旅途的下一個階段是否生存的關鍵指標。

Token unlocks set to outpace prior periods

令牌解鎖設置為前期超過空間

Data from blockchain analytics firm PiScan shows that a total of 668 million Pi tokens are set to be unlocked in the second quarter of 2024.

區塊鏈分析公司Piscan的數據表明，在2024年第二季度，總共將解鎖6.68億個PI令牌。

That figure dwarfs any prior period of unlocks, with the next highest total being the 500 million tokens set to unlock in the fourth quarter of 2026.

該數字劃分了任何以前的解鎖時期，第二個最高總數是2026年第四季度的5億個令牌。

The main period of token unlocks is set to begin in May and continue through July.

令牌解鎖的主要時期定於5月開始，並持續到7月。

At the same time, the amount of Pi tokens held by centralized exchanges has soared in recent months, suggesting many holders are preparing to sell their tokens.

同時，近幾個月來，集中交易所持有的PI代幣數量飆升，這表明許多持有人正在準備出售其令牌。

According to PiScan, the total balance of Pi on exchanges has now surged past 387 million. That’s a threefold increase from the 100 million tokens held on exchanges in January.

根據Piscan的說法，交流的PI總餘額現已飆升，超過3.87億。這比一月份在交易所的1億個代幣增加了三倍。

Among exchanges, Bitget and OKX are the main platforms holding Pi, with the two exchanges together controlling more than 60% of the exchange-held tokens.

在交流中，BitGET和OKX是持有PI的主要平台，兩次交換共同控制了超過60％的Exchange保存令牌。

Drying up trading activity

乾燥交易活動

Together, these figures point to a potential surge in Pi sell-side pressure, which could be problematic given the fact that trading interest has been waning.

這些數字共同表明，PI賣方壓力的潛在激增，鑑於交易興趣正在減弱，這可能是有問題的。

Data from CoinGecko shows that daily Pi trading volume has plunged 96% from its launch highs. At its peak, Pi’s daily trading volume was $1.3 billion, but that figure has since fallen to just $45 million.

Coingecko的數據表明，每日PI交易量從其發布高點跌落了96％。在其頂峰時，PI的日常交易量為13億美元，但此後的數字已下跌至4500萬美元。

The rapid decline in trading volume comes at a time when a record period of token unlocks is set to begin, signaling that buying interest is drying up just as supply is about to flood the market.

交易量的迅速下降是在設定創紀錄的令牌解鎖時期開始的時候，這表明購買利息正在枯竭，就像供應將氾濫成災一樣。

Despite these warning signs, optimism remains high among Pi’s most devoted supporters.

儘管有這些警告信號，但在PI最敬業的支持者中，樂觀仍然很高。

Unverified claims that Binance may soon list Pi have helped to keep some enthusiasm alive among the project’s community.

未經驗證的說法，即Binance可能很快列出了PI有助於在項目社區中保持一些熱情。

Meanwhile, the anticipated appearance of Pi founder Nicolas Kokkalis at Consensus 2025 has also been a key talking point among Pi supporters on social media.

同時，PI創始人尼古拉斯·科卡利斯（Nicolas Kokkalis）在2025年共識中的預期外觀也是社交媒體上PI支持者中的重要話題。

Earlier this year, Pi also announced integrations with Chainlink and Telegram’s crypto wallet, which are being seen as steps toward building broader utility for the project.

今年早些時候，PI還宣布了與Chainlink和Telegram的加密錢包的整合，這些錢被視為為該項目建立更廣泛的公用事業的步驟。