Pi Network’s PI falls towards October lows as US-EU trade tensions rise and more than 4.6 million per day unlocks rising fuel selling pressure.
Summary
- Pi Network’s PI fell sharply in twelve hours, trading near all-time lows in October, after a long period of stagnation.
- The drop followed new US tariffs that escalated trade tensions with the EU and roiled global markets as Asia opened up.
- Heavy daily unlocks of tokens above 4.6 million PI continue to increase selling pressure and create further downsides.
Pi (PI) Network’s native token fell sharply over a 12-hour period, approaching all-time lows in October after weeks of price stagnation, market data shows.
PI is trading around 0.189 USD, down about 7-8% in the last 24 hours.
The cryptocurrency’s decline coincided with broader market volatility caused by escalating trade tensions between the United States and the European Union. According to official statements, the US president has announced a new set of tariffs against eight countries as part of efforts to buy Greenland from Denmark.
The European Union responded by convening an emergency meeting. French President Emmanuel Macron called on the union to deploy a “trade bazooka” that would significantly restrict US access to European markets, reports show.
Cryptocurrency markets initially held steady as these geopolitical developments unfolded, but fell as Asian stock markets and futures opened, market data showed. The Pi token, which had avoided volatility during previous market swings, suffered significant losses during this episode.
The token did not participate in the early January rally when Bitcoin soared and numerous altcoins posted double-digit percentage gains, according to price data.
Token unlock schemes could contribute to price instability, according to industry analysts. Data from PiScanUnlock indicates that the average number of daily token unlocks exceeds 4.6 million, which could create selling pressure as investors gain access to previously locked coins.
The Pi Network token hit its previous low in October, according to historical price records.
