Pi Network‘s token PI dropped more than 7% over the past 24 hours, falling under $0.19 earlier today as global trade tensions and market moves weighed on prices. The decline began in the last 12 hours and pushed PI to a low near $0.183, approaching its October low of $0.172 (see CoinGecko data).
The sell-off followed an announcement by POTUS of new 10% tariffs on eight countries and renewed interest in buying Greenland, prompting an emergency response from the European bloc. French President Macron urged a strong countermeasure, calling for “trade bazooka.”
Cryptocurrency markets were mostly flat at first, then slid when Asian stock markets and some futures opened, and PI did not avoid the drop. The token had missed an early January rally that lifted many altcoins while BTC climbed from under $88,000 to about $98,000.
Daily token unlocks also add pressure, with data from PiScanUnlock showing average daily unlocks above 4.6 million tokens. (Ed. note: Large scheduled unlocks can increase immediate selling pressure once holders gain access.)
