TLDR
- Over 19 million users have completed Pi Network’s KYC process.
- December 25 unlock shows calm market, with no major price swings.
- Critics continue to question Pi’s delayed testing phases and execution.
- Pi Network remains without open trading, limiting price verification.
Following the December 25 token unlock, the Pi Network community has reported stable prices in the ecosystem. The unlock event released a new batch of Pi tokens, which the community viewed as a test of the internal market’s behavior.
According to several reports, no sharp price swings were seen after the release, with market reactions described as calm and measured. Supporters of Pi Network saw this as a sign of the ecosystem’s maturing state, indicating growing demand and utility.
📢The Dec 25th unlock tested our market. The result? Price stabilization. This isn't a dip; it's a sign of maturity. With 19M+ KYC'd Pioneers and the Community Commerce Initiative in full swing, we're proving that real utility creates a stable foundation📱#PiNetwork @fen_leng pic.twitter.com/pOfsAsTgBZ
— PiNetwork DEX⚡️阿龙 (@fen_leng) December 26, 2025
However, the stability observed in the market post-unlock remains a topic of debate. Critics continue to raise concerns about the long testing periods Pi Network has gone through and the lack of clarity around timelines for the project. Without official exchange data to confirm these claims, Pi Network’s price stability can only be verified through community-tracked metrics, which limits external validation.
Token Unlock and Ecosystem Behavior
The December unlock was a significant moment for Pi Network as it added 8.7 million tokens into circulation. The event was widely discussed within the community, with some highlighting that the market’s stable reaction was a positive sign of internal demand. According to one community member, “The calm after this release reflects growing internal utility.” This view was widely echoed by supporters, who believe the token unlock proved that Pi Network’s ecosystem is becoming more stable over time.
On the other hand, the lack of official market data has left some questioning whether the price stability is truly reflective of real-world demand. Since Pi Network has not yet launched its mainnet or allowed external trading on major exchanges, pricing remains speculative. As a result, the claims of stability are largely based on community observations rather than formal market reports.
Expanding Utility Versus Ongoing Testing
Pi Network’s growing number of KYC-verified users is a point of pride for the community, with more than 19 million participants now approved for the platform. This expanding user base is seen as a key factor in Pi’s increasing utility, with supporters emphasizing the rising number of merchant engagements and in-network transactions. However, critics argue that many of Pi Network’s core features remain in testing environments, and the platform still relies heavily on testnet infrastructure.
The ongoing development has raised concerns over delays in launching the full mainnet and distributing validation rewards. Some argue that Pi’s prolonged testing phases risk slowing down adoption in a fast-paced market. A few community members voiced frustration with the slow progress, noting, “Seven years of testing might risk Pi’s relevance in a rapidly evolving crypto world.” This ongoing tension between patience for thorough testing and the urgency for public launches continues to divide opinions within the community.
Community Divided Over Long-Term Strategy
The Pi Network community has been divided on the long-term strategy of the project. Some users advocate for patience, believing that rushing the development could result in technical issues. They argue that real-world utility requires proper stress testing before wider access.
One supporter mentioned, “It’s better to ensure the network’s stability before allowing full-scale access.” However, the critics counter that prolonged delays have led to user fatigue. With other blockchain projects making significant strides, the pressure for Pi Network to launch its mainnet and open trading is mounting.
Despite these concerns, the Pi Network core team has emphasized the need for caution and proper testing. Developers have indicated that the ecosystem needs time to fully mature before broad-scale adoption. Whether Pi can successfully transition from internal stability to external success remains a key point of discussion. The recent unlock has only highlighted this ongoing divide within the community.
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