<p>Pi Network (PI) challenges the market: app update and 3.5% growth amid overall decline</p>

While the entire cryptocurrency market is losing nearly 3% in a day, the Pi Network (PI) token is showing rare resilience. Over the past 24 hours, its price has surged by 3.5% to around $0.078. This growth partially offset recent losses, although just a few days ago PI hit a new all-time low.

Bounce from the bottom: what's behind the move?

The rise in PI coincided with the launch of a major redesign of the mobile mining app. The project team updated the side menu and profile page — this is the first part of a large interface overhaul. According to the developers, the innovations are intended to simplify navigation and speed up access to key account data and ecosystem services.

On July 14, the token fell to $0.071, setting a new record low. Since then, PI has recovered about 11%, but it is still 97% below its February 2025 peak of around $2.99. Over the past month, the cryptocurrency has lost approximately 42% of its value.

Supply pressure: the main threat to PI

The main problem for PI is the constantly growing supply. Currently, 10.9 billion tokens are in circulation out of a maximum of 100 billion. This means we face a serious risk of value dilution ahead. Data from PiScan shows that about 4.25 million PI are unlocked daily, equivalent to approximately $333,672 at the current price. This constant influx of fresh coins puts systematic selling pressure on the price.

Protocol v25 update: will it save the situation?

The new app design is merely a prelude to 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 reverse the selling trend amid the supply glut is the key question.

My opinion: For now, PI is a classic example of a bear market with a supply overhang. The redesign and upcoming upgrade are positive signals, but they do not solve the fundamental problem: for the price to rise, real demand for the token is needed, not just interface improvements. After July 22, we will see whether the increased network utility sparks interest in PI from new users.