The price of Pi Network's Pi token continues to drop sharply, hovering around $1.3 to $1.4 per Pi as of March 12, marking its lowest level in the past week. The decline has left investors uncertain about whether to buy and hold or sell to minimize losses.

Massive unlocks flood the market

According to investors, one of the main reasons for Pi’s price decline is the ongoing unlocking of large token quantities, which significantly increases market supply.

When Pi Network was first listed on February 20, the total circulating supply was around 6.4 billion Pi, including frozen tokens held by users. However, this figure has now surged to 7.23 billion, and according to the development team, an additional 280 million Pi will be unlocked over the next 30 days.

Growing skepticism among investors

Investor confidence has also been shaken as the March 14 deadline for Know Your Customer (KYC) verification approaches. Many users report that despite completing all required steps, they are still unable to finalize the verification process.

Even users who have successfully completed KYC verification face restrictions. Only a small portion of their Pi is unlocked, with the remaining balance set to be released over two to three years.

Hoang Minh, a Pi miner from Ho Chi Minh City, shared his frustration: "After mining Pi for five years, I accumulated over 3,000 Pi. However, when I attempted to sell, I was only able to trade around 140 Pi. That’s far below my initial expectations. If I want to sell the rest, I have to wait much longer. But with the price continuing to fall, I worry that by the time my tokens are fully unlocked, they may be worth next to nothing."

Investors divided: Hold or sell?

Pi’s downward trend comes at a time when the broader cryptocurrency market is also under pressure. As a result, investors are debating between holding on in hopes of a rebound or selling to cut losses.

Nguyen Long, a seasoned crypto investor in Ho Chi Minh City, observed: *"Pi miners have a different mindset. Since Pi mining is free, they are more inclined to hold their tokens regardless of price fluctuations. They have strong faith in the project.

However, those who bought Pi on exchanges are in a tougher position. They must decide whether to hold on and risk further losses or sell now to minimize damage. So far, there are no clear indicators that Pi’s price will recover anytime soon."*

Despite the uncertainty, some investors remain optimistic, believing that Pi Network’s developers will implement strategies to stabilize the price and eventually drive recovery.

Experts and authorities warn investors

Market analysts urge Pi investors to be cautious and have a clear risk management strategy.

Previously, Dr. Dang Minh Tuan, Chairman of the Vietnam Blockchain Alliance, and Bybit founder Ben Zhou both raised concerns about Pi Network’s transparency. However, the Pi development team has yet to respond to these warnings or provide reassurances to its community.

Additionally, Hanoi’s Cybersecurity and High-Tech Crime Prevention Department has advised people to exercise caution when investing in Pi, urging them to thoroughly research before making transactions to avoid financial risks.

PV