While the overall crypto market is showing a decline of nearly 3%, the Pi Network (PI) token is confidently moving against the trend. Over the past 24 hours, the coin has risen by 3.5%, recouping recent losses. This upward momentum was triggered by the launch of an updated interface for the mobile mining application.
At the time of analysis, PI is trading around $0.078. The increase has partially offset the crash that occurred just a few days ago, when the token updated its all-time low. On July 14, PI dropped to the $0.071 mark, and since then, the altcoin has managed to recover by approximately 11%. However, despite this bounce, PI is still nearly 97% below its February 2025 peak of $2.99. Over the past month, the asset has lost about 42% of its value.
Supply Pressure: The Main Enemy of Growth
The main problem for PI remains the growing supply. Currently, 10.9 billion tokens are in circulation out of a maximum of 100 billion. Approximately 4.25 million PI are unlocked each day, which, at the current price, is equivalent to about $333,672. This constant influx of fresh coins creates strong selling pressure, making the already weak altcoin extremely vulnerable to further declines.
Redesign as a Catalyst
The Pi Network team has updated the side menu and profile page in the application — this is the first part of a major redesign. According to the developers, the new interface allows users to access important account data and ecosystem services faster. This update was released shortly before the launch of Protocol v25, scheduled for July 22. The new version of the protocol is expected to increase network stability and introduce smart contracts with enhanced privacy.
My Professional View: The redesign and the upcoming protocol update are positive signals, but they are unlikely to reverse PI's fundamental bearish trend. The pressure from the massive supply will only increase as tokens are unlocked. The key question after July 22 is whether the increased utility of the network can generate real demand capable of absorbing this flow of sales. For now, I do not see convincing prerequisites for this.