While the digital asset market is experiencing another wave of correction, losing nearly 3% of its capitalization in a day, Pi Network (PI) is showing rare resilience. Over 24 hours, the token rose by 3.5%, reaching around $0.078. This upward momentum was made possible by the launch of a redesign of the mobile mining app, which partially offset recent losses.
Just a few days ago, on July 14, PI updated its all-time low, dropping to $0.071. Since then, the coin has recovered about 11%, but this is only a small fraction compared to the massive 97% decline from the February 2025 peak of around $2.99. Over the past month, the asset's value has decreased by approximately 42%.
Supply Pressure: PI's Main Enemy
The key factor holding back Pi Network's growth is the constantly increasing supply. Currently, 10.9 billion PI are in circulation out of a maximum of 100 billion. Approximately 4.25 million coins are unlocked daily, which at the current price amounts to roughly $333,672. This continuous influx of fresh tokens creates strong selling pressure, making the altcoin extremely vulnerable to further declines.
App Update: A Signal for a Reversal?
The Pi Network team has updated the side menu and profile page in the app — this is the first part of a major redesign. According to the developers, the innovation is intended to speed up user access to important account data and ecosystem services. Interestingly, the redesign was released shortly before the planned launch of Protocol v25, scheduled for July 22. This update is expected to enhance network stability and introduce smart contracts with increased privacy.
Analyst's Opinion: Whether the new protocol version can reverse the bearish trend is a big question. Increasing the network's utility is the only way to create real demand capable of absorbing the growing supply. If we do not see a surge in ecosystem activity after July 22, the current bounce risks remaining just a short-term correction before a new wave of decline.