🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
PI Network Faces Increasing Selling Pressure As Future Token Unlocks Put Pressure on Price
PI is still locked in a narrow sideways range, but weakening momentum indicators are signaling a potential breakdown, as dilution risks weigh heavily on the circulating supply. Pi Network ( PI ) has been trading in a sideways consolidation range since mid-April, oscillating in a range of ~14% between $0.59 and $0.67. The price is currently testing the lower boundary of that range — currently at $0.58, increasing the risk of a breakdown to lower levels. RSI is at 38, much lower than the neutral level of 50 and not far from the oversold area. MACD also shows signs of fatigue. Although the MACD line is still slightly above the signal line, they seem to be approaching a bearish crossover point, indicating the possibility of a momentum shift toward the downside.
The price of PI has decreased and technical weakness may be supported by fundamental dilution risks. This month, 21.4 million PI tokens have been unlocked, equivalent to ~12.3 million dollars at the current market price. Although the April unlocking may be relatively modest, investors may be pricing in larger unlocks in the future. The overall monthly unlocking trend shows a steady increase in supply over time, with an expected average of over 131 million PI/month in the coming year.
Unless a major update is released or the PI Foundation burns a significant portion of the nearly 72 billion PI (71.991.181.249 π) held in their wallets, the risk of continuous downward pressure on PI remains high.