Against the backdrop of a general decline in the crypto market, which amounted to nearly 3% over the past 24 hours, Pi Network (PI) managed to show opposite dynamics, rising by 3.5%. This growth coincided with the launch of a redesign of the mobile mining app for Pi Network, allowing the token to partially offset recent losses. Just a few days ago, PI hit an all-time low, dropping to $0.071, but has since recovered about 11% and is currently trading around $0.078.
Nevertheless, one should not get carried away — the current price is still approximately 97% below the February 2025 peak of $2.99. Over the past month, the cryptocurrency has lost about 42% of its value. The main factor putting pressure on the quotes remains the growing supply. There are 10.9 billion PI in circulation out of a maximum of 100 billion, and about 4.25 million coins are unlocked daily, which at the current price is equivalent to approximately $333,672. This constant influx of fresh tokens creates sustained selling pressure, making the already weakened altcoin even more vulnerable.
App Update: Temporary Catalyst or Trend Reversal?
The growth driver was the interface update — the first part of a major redesign, which included updates to the side menu and profile page. According to the project team, this should simplify user access to key account data and ecosystem services. The redesign was released shortly before the scheduled July 22 launch of Protocol v25, which promises to increase network stability and add smart contracts with enhanced privacy.
Whether the new version of the protocol can curb sales amid the supply glut will be the main test for PI. After July 22, it will become clear whether the increased utility of the network can spur real demand for the token or if this is just a temporary respite before a new wave of decline.
Cryptalist Analytical Commentary: The redesign and upcoming protocol update are positive steps for the Pi Network ecosystem, but they do not solve the fundamental tokenomics problem. As long as the daily influx of unlocked coins exceeds current demand, any rally will be speculative and short-term in nature. Investors should closely monitor the dynamics of unlocks and the actual implementation of smart contracts — these factors will determine whether PI can reverse the downward trend.