PI网络将面临大量令牌解锁。它会引发抛售还是为增长铺平道路？分析对价格和网络未来的潜在影响。

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

PI Network的令牌解锁：抛售恐惧还是未来的燃料？

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曾经是Crypto的安静弱者，即将面临重大测试。随着令牌大量解锁的迫在眉睫，它会引发毁灭性的抛售，还是会推动网络未来的增长？让我们潜水。

The Impending Unlock: A Ticking Time Bomb?

即将解锁的即将解锁：滴答时间炸弹？

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.

从2025年6月下旬开始，计划解锁约3.37亿个PI令牌。这仅仅是开始，预计明年有超过14亿个代币将淹没市场。这使PI社区充满了兴奋和焦虑。从历史上看，大量的令牌解锁通常导致价格下降，其中一些令牌损失了其价值的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.

最大的问题：PI的价格可以承受这种巨大的压力，还是我们为重大蘸酱做好准备？ PI的循环供应中约有4.1％被解锁，并且价值1.79亿美元进入市场的潜力很高。

Liquidity and Partnerships: The Missing Pieces?

流动性和合作伙伴关系：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缺席主要交易所的担心加剧。有限的流动性意味着市场很难吸收大量销售量。伴随着缺乏重要的企业合作伙伴关系或新的资本流入，并且情况变得更加模糊。即使是该网络的大型年度庆祝活动PI2Day，也未能引发任何有意义的价格集会。没有这些催化剂，社区对PI的情绪似乎正在消失。

Pi's Ecosystem Efforts: A Ray of Hope?

Pi的生态系统努力：希望吗？

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.

不过，这并不是厄运和忧郁。 PI网络团队正在积极地扩大其生态系统。 Pi App Studio最近推出了AI驱动的无代码平台，允许用户使用书面说明创建应用程序。生态系统目录staking允许用户赌注PI令牌在PI浏览器中提高应用程序排名。这些举措旨在为代币创建实用性并推动参与度。

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生态系统挑战鼓励用户与这些新功能进行互动，从而为参与提供数字奖励。这些努力可能会抵消令牌解锁中的一些负压。

The Million-Dollar Question: What's Next?

百万美元的问题：下一步是什么？

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.

那么，最有可能的情况是什么？如果将大量解锁的令牌倾倒在交易量较低的市场上，则价格可能会下降，可能会返回到先前的低点0.37美元。截至目前，PI的交易价格接近0.533美元，循环供应量为76.8亿个令牌，市值约为40.6亿美元。这是一个不稳定的平衡。

My Two Satoshis: Cautious Optimism

我的两个satoshis：谨慎的乐观

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.

尽管该解锁构成了重大风险，但PI Network正在进行的建立强大生态系统的努力不应忽略。 Pi App Studio和生态系统目录的成功可能在吸收未锁定令牌并保持价格稳定性方面发挥着至关重要的作用。但是，如果不列出主要交流或吸引大量合作伙伴关系，PI的未来仍然不确定。这将是一个坎bump的旅程，但请继续关注该网络是否可以度过风暴。

Wrapping Up

总结

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网络令牌解锁是一个关键时刻。它将是售罄的富裕，还是将PI推向新高度的燃料？只有时间会证明。但是可以肯定的是：这将是一个有趣的旅程。扣，先驱！