PI網絡將面臨大量令牌解鎖。它會引發拋售還是為增長鋪平道路？分析對價格和網絡未來的潛在影響。

Pi Network's Token Unlock: Sell-Off Fears or Future Fuel?

PI Network的令牌解鎖：拋售恐懼還是未來的燃料？

Pi Network, once the quiet underdog of crypto, is about to face a major test. With a massive token unlock looming, will it trigger a devastating sell-off, or will it fuel the network's future growth? Let's dive in.

PI Network曾經是Crypto的安靜弱者，即將面臨重大測試。隨著令牌大量解鎖的迫在眉睫，它會引發毀滅性的拋售，還是會推動網絡未來的增長？讓我們潛水。

The Impending Unlock: A Ticking Time Bomb?

即將解鎖的即將解鎖：滴答時間炸彈？

Starting in late June 2025, around 337 million Pi tokens are scheduled to be unlocked. That's just the beginning, with over 1.4 billion tokens expected to flood the market within the next year. This has the Pi community buzzing with a mix of excitement and anxiety. Historically, significant token unlocks have often led to sharp price drops, with some tokens losing as much as 30% to 77% of their value.

從2025年6月下旬開始，計劃解鎖約3.37億個PI令牌。這僅僅是開始，預計明年有超過14億個代幣將淹沒市場。這使PI社區充滿了興奮和焦慮。從歷史上看，大量的令牌解鎖通常導致價格下降，其中一些令牌損失了其價值的30％至77％。

The big question: Can Pi's price withstand this immense pressure, or are we bracing for a major dip? With about 4.1% of Pi's circulating supply about to be unlocked, and the potential of $179 million worth of Pi entering the market, the stakes are high.

最大的問題：PI的價格可以承受這種巨大的壓力，還是我們為重大蘸醬做好準備？ PI的循環供應中約有4.1％被解鎖，並且價值1.79億美元進入市場的潛力很高。

Liquidity and Partnerships: The Missing Pieces?

流動性和合作夥伴關係：缺失的作品？

Adding to the worry is Pi's absence from major exchanges. Limited liquidity means it's harder for the market to absorb large sell volumes. Couple that with the lack of significant enterprise partnerships or new capital inflows, and the picture becomes even murkier. Even Pi2Day, the network's big annual celebration, failed to spark any meaningful price rally. Without those catalysts, the community's sentiment around Pi seems to be fading.

Pi缺席主要交易所的擔心加劇。有限的流動性意味著市場很難吸收大量銷售量。伴隨著缺乏重要的企業合作夥伴關係或新的資本流入，並且情況變得更加模糊。即使是該網絡的大型年度慶祝活動PI2Day，也未能引發任何有意義的價格集會。沒有這些催化劑，社區對PI的情緒似乎正在消失。

Pi's Ecosystem Efforts: A Ray of Hope?

Pi的生態系統努力：希望嗎？

It's not all doom and gloom, though. The Pi Network team is actively working on expanding its ecosystem. The recent launch of Pi App Studio, an AI-powered, no-code platform, allows users to create apps using written instructions. Ecosystem Directory Staking lets users stake Pi tokens to boost app rankings within the Pi Browser. These initiatives aim to create utility for the token and drive engagement.

不過，這並不是厄運和憂鬱。 PI網絡團隊正在積極地擴大其生態系統。 Pi App Studio最近推出了AI驅動的無代碼平台，允許用戶使用書面說明創建應用程序。生態系統目錄staking允許用戶賭注PI令牌在PI瀏覽器中提高應用程序排名。這些舉措旨在為代幣創建實用性並推動參與度。

The Pi2Day Ecosystem Challenge encourages users to interact with these new features, offering digital rewards for participation. These efforts could potentially offset some of the negative pressure from the token unlock.

PI2DAY生態系統挑戰鼓勵用戶與這些新功能進行互動，從而為參與提供數字獎勵。這些努力可能會抵消令牌解鎖中的一些負壓。

The Million-Dollar Question: What's Next?

百萬美元的問題：下一步是什麼？

So, what's the most likely scenario? If a large number of these unlocked tokens are dumped onto a market with low trading volume, the price could plummet, potentially back to its previous low of $0.37. As of now, Pi is trading near $0.533, with a circulating supply of 7.68 billion tokens and a market cap of about $4.06 billion. It's a precarious balance.

那麼，最有可能的情況是什麼？如果將大量解鎖的令牌傾倒在交易量較低的市場上，則價格可能會下降，可能會返回到先前的低點0.37美元。截至目前，PI的交易價格接近0.533美元，循環供應量為76.8億個令牌，市值約為40.6億美元。這是一個不穩定的平衡。

My Two Satoshis: Cautious Optimism

我的兩個satoshis：謹慎的樂觀

While the unlock presents a significant risk, Pi Network's ongoing efforts to build a robust ecosystem shouldn't be ignored. The success of Pi App Studio and Ecosystem Directory Staking could play a crucial role in absorbing the unlocked tokens and maintaining price stability. However, without listing on major exchanges or attracting significant partnerships, Pi's future remains uncertain. It is going to be a bumpy ride, but stay tuned to see if this network can weather the storm.

儘管該解鎖構成了重大風險，但PI Network正在進行的建立強大生態系統的努力不應忽略。 Pi App Studio和生態系統目錄的成功可能在吸收未鎖定令牌並保持價格穩定性方面發揮著至關重要的作用。但是，如果不列出主要交流或吸引大量合作夥伴關係，PI的未來仍然不確定。這將是一個坎bump的旅程，但請繼續關注該網絡是否可以度過風暴。

Wrapping Up

總結

The Pi Network token unlock is a pivotal moment. Will it be a sell-off bonanza, or will it be the fuel that propels Pi to new heights? Only time will tell. But one thing's for sure: it's going to be an interesting ride. Buckle up, Pioneers!

PI網絡令牌解鎖是一個關鍵時刻。它將是售罄的富裕，還是將PI推向新高度的燃料？只有時間會證明。但是可以肯定的是：這將是一個有趣的旅程。扣，先驅！