- Pi Network will unlock over 200 million tokens this month.
- The ongoing upgrade will conclude this month.
- Its founders, like Chengdiao Fan and Nikolas Kokkalis, will talk at Consensus.
Pi Network price remained in a tight range in April this year as the crypto winter persisted and token unlocks continued. It traded at $0.180 on May 1, down sharply from its year-to-date high of $0.2980. This article explores the top catalysts for Pi Coin in May this year.
Pi Network Price to React to Token Unlocks
One key catalyst for the Pi Network price is the ongoing token unlocks, which will release over 200 million tokens worth over $36 million during the month. It will be followed by 84 million tokens worth $15 million in June this year.
Pi Network will unlock over 1.65 billion tokens worth over $297 million in the next 12 months. The average monthly unlock will be 18.15 million, worth $3.2 million. These unlocks will continue in the foreseeable future as the maximum supply is 100 billion, while the current supply is 10.3 billion.
Token unlocks typically put more pressure on the price by increasing supply, especially when demand is falling.
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Chengdiao Fan and Nikolas Kokkalis Speeches at Consensus
The other main catalyst for the Pi Network price is the upcoming Consensus event in Miami, where its founders, Chengdiao Fan and Nikolas Kokkalis, will be among the keynote speakers.
They will mostly focus on ongoing developments in the network, especially the advancement of its artificial intelligence (AI) tools and progress on KYC. Pi Network aims to use the KYC process to launch a platform that helps companies, especially those in the AI industry, conduct large-scale verification quickly.
Pi Network price rose sharply ahead of the Consensus event last year as the team teased a major announcement. That surge marked the peak, with the token falling to a record low afterward.
Pi Network Core Update
The other main catalyst for the token will be the ongoing network upgrade, which is scheduled to be completed this month. The network has already completed most of the upgrades, with the final one expected to end this month.
This upgrade will substantially improve the network over time, including the launch of smart contracts. The developers have already launched a subscription-based testnet, which they hope will be used widely by developers.
These smart contracts will make Pi Network a competitor with other popular players in the industry, such as Ethereum, Solana, and Tron. It will make it easier to launch popular solutions, such as in decentralized finance (DeFi) and real-world asset (RWA) tokenization.
Potential Pi Coin Exchange Listing
Meanwhile, another potential catalyst will be an exchange listing by one or more large companies. It has already received a listing on Kraken this year, making it available to American investors.
There is a possibility that more exchanges will list it this month. Companies like Binance, Coinbase, and Upbit were criticized in April for listing RaveDAO, which was accused of market manipulation. Traders noted that Pi has conducted KYC for all its tokens, which may help prevent manipulation.
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