Pi Network Faces Triple Threat — Unlocks, Exchange Activity, and Binance Silence

Pi Network native token could be heading for deeper losses as selling pressure intensifies ahead of a speculative “Pi2 Day” surprise.

The native cryptocurrency of the Pi Network — PI — has recently found itself under immense pressure, falling 20% in just two weeks. While hopeful community members are counting down to “Pi2 Day” on June 28, current market indicators paint a more bearish outlook for the token.

One of the most critical red flags comes from the scheduled token unlocks. Over 335 million PI tokens are set to be released into circulation over the next 30 days. The heaviest days for unlocks are expected to fall on June 18 and July 6, with more than 15.5 million PI entering the market on each of those dates. Though this doesn’t confirm a massive sell-off, such an influx typically leads to intensified downward pressure as long-term holders gain liquidity.

In parallel, the number of tokens held on centralized exchanges is increasing. Currently, nearly 340 million PI are stored on these platforms, up from 310 million at the end of May. The top exchange, Bitget, holds approximately 118.3 million of those tokens. This rise in exchange-held supply strongly suggests that some users may be preparing to offload their assets — potentially compounding the effect of the unlocks.

Another bearish weight comes from Binance’s ongoing reluctance to support PI trading. Despite conducting a community vote in February — where the majority of participants voted in favor of a listing — Binance has not yet followed through. The silence has frustrated many PI supporters and raised doubts about whether the world’s largest crypto exchange will ever greenlight PI.

Nonetheless, Pi enthusiasts are rallying behind the symbolic significance of June 28, dubbed “Pi2 Day” (6.28 = 3.14 × 2). Some believe the Pi Network team may announce something big on this date — from updates to potential exchange partnerships. Notably, a user named Pi Barter Mall predicted that PI may dip further before rallying around Pi2 Day. Meanwhile, Vietnamese source Cryptoleakvn speculated — without confirmation — that Binance could announce a listing on the same day.

Despite the hopes tied to Pi2 Day, analysts caution that expectations should be tempered. Without clear updates from the Pi Network team or Binance, the PI token remains vulnerable to the macro effects of unlocks, increased exchange supply, and unresolved listing uncertainties.

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