Pi Network News: 370M Pi Tokens Hit Exchanges as Users Remain Locked Out

The post Pi Network News: 370M Pi Tokens Hit Exchanges as Users Remain Locked Out appeared first on Coinpedia Fintech News

Pi Network is growing. The team is building new tools, improving migration, and making noise about ecosystem progress. But beneath the surface, a major problem is gaining attention. Over 370 million Pi tokens are now sitting on exchanges, while most users still don’t have access to their own tokens.

That’s a serious concern. If the majority of users are still waiting on technical fixes and KYC approvals, who exactly is trading these tokens?

To move Pi tokens to the mainnet, users first need to pass KYC. Then they can begin migration but even then, only a portion of their Pi is unlocked. The rest stays locked under a vesting schedule, depending on how active the user has been.

For many, the process has been frustrating. Technical issues like 2FA errors and missing balances have only made it worse. Some users have been stuck in the queue for months.

Meanwhile, exchange balances have jumped from 244 million in March to over 370 million in July. That means more tokens are appearing on public markets, even though regular users are still locked out.

$PI new ATH. .
The selling pressure continues to increase.
370million $PI in exchanges. .
An increase of 8 Million $PI in 2 days.
The selling pressure is mainly from increasing deposits.#PiNetwork pic.twitter.com/El6xDIqqrn