Pi Network shows growth despite market downturn: app update and dilution threat
The Pi Network (PI) cryptocurrency has gained 3.5% over the past 24 hours, while the entire digital asset market has dropped by nearly 3%. This anomalous growth amid a broader correction has caught the attention of analysts and appears to be driven by the launch of a redesign of the mobile mining application.
The price surge has allowed the token to partially offset recent losses. Just a few days ago, PI hit a new all-time low, dropping to $0.071. At the time of analysis, the coin is trading around $0.078, representing a rebound of approximately 11% from the extreme. However, it is worth noting that over the week, quotes have still declined by more than 22%.
Current Position: Far from Peaks
Despite the local rebound, PI is approximately 97% below its February 2025 peak of around $2.99. Over the past month, the cryptocurrency has lost about 42% of its value. This dynamic points to a deep bearish trend that has yet to be reversed.
The key pressure factor is the constantly growing supply. Currently, 10.9 billion PI are in circulation out of a maximum of 100 billion. This creates a colossal risk of value dilution. According to data from the analytical service PiScan, approximately 4.25 million PI are unlocked daily, which at the current price is equivalent to roughly $333,672. This constant influx of fresh coins exerts systematic selling pressure on quotes.
App Update and Upcoming Upgrade
The Pi Network team has updated the side menu and profile page in the app — this is the first phase of a large-scale redesign. Developers claim the changes will allow users to access important account data and ecosystem services more quickly.
This redesign comes shortly before the launch of Protocol v25, scheduled for July 22. This update is expected to enhance network stability and add smart contracts with enhanced privacy. Whether the new version can curb sales amid the supply glut will be the main test for the project. After July 22, we will see if the increased network utility stimulates real demand for the token.
In my view, the current growth is more of a technical rebound on news rather than a trend reversal. The fundamental problem of oversupply has not gone away. As long as daily unlocks exceed organic demand, any positive development will only be a temporary respite. The key point is whether Protocol v25 can create real utility capable of absorbing this flow of coins.