Pi Network (PI) Cryptocurrency Price Surges 10% Ahead of Consensus 2025 Toronto Appearance

Cryptocurrency project Pi Network, known for its mobile-focused approach and vast user base of over 55 million, saw its token price surge by over 10% in the past 24 hours, reaching $0.63.

The project’s presence at Consensus 2025 in Toronto is also set to bring additional attention to the project.

The project’s founder, Dr. Nicolas Kokkalis, will be speaking at the event, which takes place from May 14-16.

The Pi Core Team also announced via social media on May 8 that “A Pi ecosystem announcement will be released on May 14. Tune in to find out what’s coming next!”

This cryptic message has sparked speculation among the project’s large community.

The project’s token, PI, has seen trading volume decrease from $1.3 billion to about $45 million in recent months, an ≈96% decline that reflects current liquidity challenges.

This comes as the project faces pressure from a scheduled token unlock. Blockchain data shows that more than 668 million PI tokens will enter circulation between May and July 2025.

The unlock schedule includes 212.2 million tokens in May, 222.6 million in June, and 233.4 million in July.

Centralized exchanges are gradually accumulating more PI tokens, with Bitget holding over 95 million and OKX approximately 154 million. Exchange reserves have more than doubled since February, raising concerns about potential selling pressure when unlock dates arrive.

The token has experienced a substantial price decline since its mainnet launch in February, falling from $3 to current levels around $0.63. This represents a drop in market capitalization from $15 billion to approximately $4 billion.

Technical analysis suggests PI may be forming a falling wedge pattern, which some traders interpret as a potential sign of an upcoming bullish breakout. The price consolidation in recent weeks could represent an accumulation phase before a potential upward movement.

Pi Network has recently secured partnerships with blockchain platforms including Chainlink, and Telegram has begun supporting Pi in its cryptocurrency wallet. These integrations could help drive broader adoption if liquidity and trading opportunities improve.

Some community members speculate that the May 14 announcement could involve an ecosystem fund to support developers building applications on the network, similar to initiatives launched by other major blockchain projects.

The timing of Consensus 2025 in Toronto – the city where the world’s first Bitcoin and Ethereum ETFs were launched – adds symbolic weight to Pi Network’s appearance at the event.