The PI token of Pi Network fell toward its October low as US-EU trade tensions increased and more than 4.6 million daily unlocks ignited increasing selling pressure. The native token has fallen heavily over a 12-hour period, going near its October all-time low after weeks of price inactivity, as per the market data.
At the time of writing, PI is hovering about 0.178 USD, down about 8-9% in the past 24 hours. The fall of the token coincides with wider market unpredictability ignited by increasing trade tensions between the United States and the European Union.
The President of the United States publicised a new set of tariffs against 8 countries as part of efforts to buy Greenland from Denmark, as per the official statements. The European Union replied by setting an emergency meeting.
The Volatility Faced by Pi Token
The President of France, Emmanuel Macron, asked for the union to position a “trade bazooka” that would substantially limit U.S. access to European markets, as per the report. In the beginning, the crypto market became stable as these geopolitical developments opened out but did not agree when Asian stock markets and futures opened, market data showed.
The Pi token, which had been influenced by volatility at the time of the last market fluctuations, faced potential losses at the time of this episode. The token was not a part of the January rally when the price of Bitcoin increased and a number of altcoins showed double-digit percentage gains, as per the price data.
The schedule of token unlock may show price instability, as per the industry analysts. The PiScanUnlock data reveals that the average number of daily token unlocks surpassed 4.6 million, which could create selling pressure as investors get access to the last locked coins. The Pi Network attained its previous all-time low in October, as per historical price records.
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