While the overall crypto market corrected by nearly 3% over the past day, the Pi Network (PI) token showed a confident increase of 3.5%. This upward momentum coincided with the release of a redesign for the mobile mining app, partially offsetting recent losses.
Just a few days ago, PI updated its all-time low, dropping to $0.071. Since then, the asset has recovered about 11% and is trading near $0.078 at the time of analysis. However, it is worth noting that quotes have still lost more than 22% over the past week, and the current price level is approximately 97% below the February 2025 peak of $2.99. Over the month, the token's market capitalization has shrunk by about 42%.
The key factor putting pressure on the price remains the growing supply. There are 10.9 billion PI in circulation out of a maximum of 100 billion. This creates a colossal potential for value dilution in the long term. Approximately 4.25 million PI are unlocked daily, which at the current rate is equivalent to about $333,672. The constant influx of fresh coins into the market is a powerful bearish factor that restrains any significant growth.
Redesign and Upcoming Protocol Update
The Pi Network team has introduced an updated design for the side menu and profile page. According to the developers, this is the first part of a large-scale redesign aimed at accelerating user access to key data and ecosystem services. The release came shortly before the planned launch of Protocol v25 on July 22. The new update is expected to increase network stability and add support for smart contracts with enhanced privacy.
Analytical conclusion: The redesign itself is a positive signal, indicating ongoing work on the product. However, the key test for PI will be July 22. Can the new protocol version and improved UX stimulate real demand for the token, capable of outweighing the pressure from constant sales by miners and holders unlocking their coins? For now, fundamental indicators suggest that without a sharp increase in network utility, PI risks remaining in a zone of prolonged consolidation or further decline.