Pi Network’s token (PI) has dropped more than 40% following its listing on Kraken, surprising investors who expected a rally driven by increased liquidity and market access.
The token fell from around $0.30 to approximately $0.17 within days, despite the listing being seen as a major milestone for broader adoption.
Trading activity on Kraken remained low, with the PI/USD pair generating roughly $198,000 in daily volume, accounting for less than 1% of total market activity.
This weak volume suggests that the listing failed to attract significant new capital or retail participation, limiting upward price momentum.
At the same time, exchange reserves of PI rose to around 454 million tokens, indicating increased selling pressure from existing holders moving assets onto trading platforms.
The combination of rising supply and weak demand created a classic “sell the news” reaction, where investors exit positions after a major announcement.
Despite the short-term decline, recent Protocol 20 upgrades have laid the groundwork for smart contract functionality, which could improve long-term utility.
Future developments such as decentralised applications and potential internal exchange features may support recovery if adoption increases.
At the time of reporting, Pi Network price was $0.1738.