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Pi, IMX, ZBCN In Focus As Key Token Unlocks Threaten More Losses
HomeNews* The crypto market experienced a sharp drop as Bitcoin fell from $111,900 to below $104,000, resulting in widespread altcoin declines.
Pi Coin faces increased supply this week as the network unlocks 67.3 million tokens, part of a larger unlock of 277 million tokens in June, according to PiScan data. The coin has been under continued pressure since the launch of Pi Network Ventures in May and now trades at $0.63, the lowest since early May. Pi Coin has fallen below the important support level of $0.66. Market data shows a loss of 62% from its highest point in May, with the next key support at $0.40.
Immutable X, a layer-2 blockchain specializing in gaming, is scheduled to unlock new tokens worth $19.2 million, about 2% of its current supply. Nearly all tokens have already been released to the market, with the final unlock expected in November. The IMX token now trades at $0.54, its lowest since May 8, after a 33% drop from its monthly high. If the price drop continues, analysts point to $0.35 as the next support level.
Zebec Network surged by 925% from April to a May high of $0.0072, helped by the acquisition of the British fintech company Science Card. With recent gains fading, the token has already fallen nearly 20% from May’s peak. Technical analysis links the pullback to a common distribution phase, with $0.0025 seen as a possible next floor.
All three tokens remain in focus as traders look to upcoming token unlocks, technical price zones, and broader economic indicators for the market’s next move.
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