Pi Network's native token fell this week because the project released around 8.7 million PI tokens into circulation on December 25, coinciding with expanded dealer participation in its holiday trading initiative. The price drop occurred despite the market's general caution and ahead of the discharge of macroeconomic data.
PI price falls as supply increasesHoliday Commerce Initiative reports increased acceptance
Source: X
Data from PiScan shows that the unlock – value a complete of around $1.76 million at current prices – represented the most important planned token release in December. An additional distribution planned for this month could increase the circulating supply of PI by roughly 54.7 million tokens, value roughly $11.07 million based on current exchange prices.
The price of PI falls as supply increases
At the time of writing, PI was trading at around $0.203, down from the November high of $0.279 and yearly low of $0.192 posted last week. The token briefly rallied to around $0.214 over the weekend before easing as market participants eyed U.S. initial jobless claims data.
PI/USD each day price chart. Source: CoinMarketCap
According to the worth charts, the Pi token showed a bearish trend until it was unlocked on December twenty fifth. After peaking in November, the token fell about 31% to its yearly low after which consolidated until mid-December. Today's distribution added to the provision inside the network's ecosystem as trading activity continued to be focused on a limited variety of exchanges that support PI trading.
Exchange data currently lists PI with a circulating supply of roughly 8.37 billion tokens and a market capitalization of nearly $1.72 billion. Trading activity has been observed on platforms where PI is listed, although overall liquidity stays lower than larger, more commonly traded assets.
Holiday Commerce Initiative Reports Expanded Acceptance
Pi Network reported that its holiday trading event was attended by greater than 125,000 merchants who accepted PI tokens for goods and services. According to the network's announcements, as a part of expanded ecosystem activity throughout the holidays, merchants will set their very own prices and promotions using Pi's payments infrastructure.
In conjunction with the token unlock and commerce push, Pi Network is rolling out an updated wallet interface for select users and business accounts. The updated design goals to optimize navigation and token visibility. Wider availability is planned in the approaching weeks.
Pi’s Open Mainnet – launched in early 2025 – continues to support development activities in decentralized applications. The project documentation lists greater than 215 applications operating within the network's ecosystem, including tools for trading and emerging decentralized finance functions.
