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Pi Network, a once-promising mobile-based cryptocurrency, is seeing a growing trend of Pi Network account sales as frustrated users look for ways to exit their investments. The project’s long lockup periods, technical delays, and declining market sentiment have created an underground marketplace where entire accounts, along with wallet passphrases, are being sold.
As Pi Coin struggles to gain traction, these account sales reflect deeper concerns about the network’s viability and investor confidence.
Why Are Pi Network Users Selling Their Accounts?
Pi Network launched with a vision of enabling users to mine cryptocurrency on their mobile devices without requiring expensive hardware. To control inflation, the network introduced a lockup mechanism, where users voluntarily lock their Pi tokens for extended periods.
Read Also: Is Pi Network The Future of Mobile Mining or Just Hype?
However, this system has backfired as users now realize they won’t be able to access their coins for years. Recent data reveals:
- 1.1 million users locked their Pi tokens for six months
- 1.6 million locked their tokens for one year
- 7.2 million users (62.6%) locked their tokens for three years, making them inaccessible until late 2027 or early 2028
The frustration is evident, with many users turning to Pi Network account sales as a workaround. A social media user summed up the situation:
“People have been mining Pi for years. I thought it was a scam, but now some are actually selling their accounts to cash out. The funny part? Most users locked up their Pi for years and now regret it.”
This growing impatience has led to an emerging black market where users are selling their locked Pi accounts, often posting offers on X (formerly Twitter). Searching for “sell locked Pi” reveals multiple listings from sellers advertising their account balances.
One such listing reads:
“A friend has 2,136 Pi for sale. The Pi is locked until 2027. Buyer gets the passphrase for full account access.”
The Risks of Pi Network Account Sales
While selling Pi Network accounts may seem like an easy way to cash out, this practice comes with significant risks.
Security Risks
Buying a Pi Network account means both the seller and buyer know the passphrase. This creates a situation where the seller can later recover the account and steal the Pi balance.
Fraud and Scams
There’s no way to verify the legitimacy of a seller. Scammers often sell fake accounts, provide invalid passphrases, or disappear after receiving payment. Since Pi Network does not officially support account transfers, victims have no way to reclaim their money.
Read Also: Pi Network Scam? Bybit CEO Blasts Them on Twitter
Violation of Pi Network’s Terms of Service
Pi Network likely prohibits the sale of accounts, meaning users engaging in these transactions risk account bans or coin forfeitures. If Pi Network cracks down on account sales, both buyers and sellers could lose everything.
Legal Concerns
Since cryptocurrency regulations vary globally, selling Pi Network accounts may fall into legal gray areas. If authorities intervene, those involved in these transactions could face unexpected legal repercussions.
Migration Issues and Technical Challenges Cause PI Newtork Account Sales
Beyond lockup frustrations, Pi Network is also facing delays in its mainnet migration. Many users have reported technical issues preventing them from transferring Pi tokens to the mainnet.
With the March 14 migration deadline approaching, calls for an extension are growing. If unresolved technical problems persist, millions of Pi tokens could remain stuck indefinitely.
Pi Network Price Decline and Market Sentiment
The declining sentiment around Pi Network is reflected in Pi Coin’s recent price drop.
Pi Network’s 23% Weekly Decline
Pi Coin has faced a 23% price decline in the past week, currently trading at $1.38. Investor confidence is deteriorating, and many are withdrawing from the project.
Key market indicators show bearish momentum:
- Chaikin Money Flow (CMF): Pi Network’s CMF remains negative, signaling that outflows are dominating as investors pull money out
- MACD (Moving Average Convergence Divergence): Consistent red bars on the MACD histogram indicate continued bearish momentum, with no signs of recovery
At the time of writing, Pi Coin is trading at $1.30, down 0.7% in the past 24 hours.
Read Also: Top 5 Trending Cryptos This Week: PI, OM, ADA, SOL, and ONDO
Future Outlook for Pi Network
Pi Network’s future remains uncertain due to multiple challenges.
- Lack of Immediate Utility: With the majority of Pi tokens locked up, there is no real liquidity, making it difficult for users to trade or use their tokens
- Declining Investor Confidence: As account sales increase, the project risks losing credibility
- Regulatory and Technical Issues: If account sales violate Pi Network’s terms or attract regulatory scrutiny, the network could face even greater instability
Key Support and Resistance Levels
Pi Coin is struggling to maintain its $1.19 support level. If this breaks, Pi Network could see:
- A drop below $1.00, with a potential fall toward $0.76
- If the project regains momentum, breaking past $1.43 could open the door for a recovery to $1.64
However, this recovery is unlikely without strong investor interest and positive market sentiment.
Can Pi Network Recover?
Pi Network is at a critical turning point. The growing trend of Pi Network account sales suggests that many users are losing faith in the project.
To restore confidence, Pi Network must:
- Provide more flexibility on lockups to prevent frustration
- Fix mainnet migration issues to ensure smooth transfers
- Introduce real-world use cases for Pi Coin to drive demand
Until these issues are addressed, Pi Network remains a high-risk project, with many users opting to sell their accounts rather than wait years for access.
The coming months will determine whether Pi Network can regain trust or fade into obscurity as another failed crypto experiment.
Final Thoughts
The Pi Network account sales trend highlights a major flaw in the project’s tokenomics. While some Pioneers continue to believe in Pi Network’s long-term potential, growing impatience, security concerns, and declining market sentiment are pushing more users to sell their accounts.
If Pi Network doesn’t take urgent steps to address these issues, it risks becoming a cautionary tale in the world of cryptocurrency.
