PI has the second-highest bullish sentiment today (March 2nd).
Last month, Pi Network’s team celebrated a special milestone and announced several important updates aimed at improving the entire ecosystem.
Despite the enhanced volatility, PI closed February in the green, which could explain why it has been trending lately.
The Recent Developments and What’s Next?
It was on February 20, 2025, when Pi Network officially launched its Open Network, making PI publicly accessible and enabling exchanges to provide trading services with it. Last month, the team celebrated the first anniversary of that milestone and unveiled several important updates.
It revealed the completion of protocol v19.6, making v19.9 the final step ahead of the much-anticipated v20. The team also reminded that nodes need to migrate promptly, as outdated versions will no longer be able to participate in the network.
Shortly after, Pi Network introduced its long-awaited Ecosystem Token Design, a framework meant to ensure that new tokens on the Mainnet are tied to real utility rather than speculation. The team urged Pioneers to review the mode and provide feedback before final implementation.
Besides that, Pi Network’s co-founders, Chengdiao Fan and Nicolas Kokkalis, answered some hot questions involving the controversial KYC process, the entity’s jump into the AI sector, and other intriguing topics.
The community’s attention has now shifted to March 14: a date known throughout the community as Pi Day, due to its symbolic resemblance to the mathematical constant π (3.14). The team marked the same date last year with an ecosystem expansion, but it’s unclear whether they plan something similar in less than two weeks. X user Pi Community claimed that Pi Day has always been “a powerful moment to showcase major progress, current work, and what’s next.”
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PI in Focus
PI closed in February at around $0.17, representing a 10% monthly increase. Currently, it trades just south of that mark, which could explain why the asset has been trending lately.
According to CoinMarketCap, PI has the second-highest bullish sentiment today (March 2nd), trailing only Kaspa (KAS). Further down the list are well-known altcoins such as Ripple (XRP), Cardano (ADA), and Ethereum (ETH).
This development has left some market observers baffled. X user Mr. Brondor, for instance, wondered how “a useless crypto” like PI could have one of the strongest bullish sentiments.
Token Unlocks and More
While some industry participants have been floating the unrealistic (at least as of now) idea that PI could explode to as high as $50, certain technical indicators suggest a short-term correction could also be on the way.
Data shows that over the next few weeks, token unlocks will be quite aggressive with the record day being March 7 when almost 21 million coins will be released. This does not guarantee a price decline, but it will allow some investors to offload holdings they have been waiting for some time.
Meanwhile, the amount of PI stored on centralized platforms has been gradually rising lately and now sits at nearly 435 million tokens. This trend is considered bearish, as a growing exchange supply increases the likelihood of a substantial sell-off.
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