I just reviewed the Pi Network history and there is quite a bit of interesting movement. Since they launched the open network on February 20, 2025, the project has reached several milestones that the community is closely watching. The price closed February in positive territory around $0.17, and although there has been volatility, people are still paying attention.

What stands out is that the bullish sentiment in the market for PI is quite strong lately, second only to Kaspa according to the data I saw. Some traders are speculating with very high numbers, although honestly, that seems like excessive optimism to me. What is real is that last March they announced protocol updates and a new token design for the ecosystem.

But here’s the interesting part: token unlocks have been quite aggressive in these weeks. Additionally, the amount of PI on centralized exchanges has been increasing, which is typically a bearish signal. So while the sentiment remains bullish, on-chain data suggests there could be selling pressure soon. It’s worth monitoring how the price behaves in the coming days.