Pi Network Mainnet Confusion Grows as Community Pushes Back on Launch Claims

Pi Network (PI) continues to face challenges in the cryptocurrency market. Despite recent technical updates aimed at improving its ecosystem, Pi's price remains near $0.20 as of January 11, 2026. The token has seen no meaningful recovery, with its market cap hovering around $1.76 billion. This stagnation raises questions about the sustainability of its market appeal.

The project's liquidity situation remains fragile. Exchange trading volumes for Pi have dropped to record lows, averaging around $10 million per day in early 2026. This represents a more than 99% decline from March 2025 when Pi recorded weekly trading volumes of over $10 billion. The low liquidity increases the risk of sharp price swings even with minimal trading activity.

High exchange reserves also continue to pressure the token's value. As of January 9, 427 million Pi tokens were listed on centralized exchanges. The elevated balances mean more tokens are available for selling, creating further downward pressure on the price.

Why the Move Happened

Pi Network recently launched a new developer library designed to simplify the integration of Pi payments into applications. The update enables developers to add Pi-based payments in under 10 minutes, combining the Pi SDK and backend APIs into a single setup. This effort aims to accelerate real-world usage of the token and support the development of practical applications.

The new library is compatible with popular development frameworks such as JavaScript, React, and Ruby on Rails. The update reduces the complexity of integration, allowing developers to focus more on design and user experience. The move is part of Pi Network's broader strategy to transition from a mining-based model to a utility-driven ecosystem.

How Markets Responded

Despite these technical improvements, Pi's price has not shown any significant movement. The token remains below all major exponential moving averages, with the 20-day EMA at $0.2089 and the 200-day EMA at $0.3717. This bearish structure has persisted since mid-2025, with the market price failing to break through key resistance levels.

The recent update coincided with a token unlock event. In January, 95 million Pi tokens worth approximately $19.88 million were released. While this represents a reduction in the unlock schedule compared to February, the market remains cautious about absorbing the new supply without significant demand.

Low trading volumes continue to reflect weak demand for Pi. Weekly trading volume fell below $100 million, a sharp drop from the over $10 billion recorded in March 2025. The thin liquidity makes the token highly susceptible to price swings from even small trades.

What Analysts Are Watching

Analysts are closely monitoring whether Pi Network can convert its large user base into active economic participants. The project has over 15.8 million Mainnet Pioneers, but many have yet to engage in meaningful transactions. Without a significant increase in usage, the project's ability to sustain value is questionable.

The new developer tools are expected to encourage more applications and services that use Pi. By reducing technical barriers, the project hopes to foster innovation and attract more developers to its ecosystem. However, progress in this area has yet to translate into broader adoption or price movement.

Market observers are also watching for further developments in exchange listings and regulatory recognition. Pi Network is now registered under the European Union's MiCA rules, which could help increase institutional participation and legitimacy. Regulatory clarity is often a key factor in driving adoption and investor confidence.

Investors are divided on Pi's future. Some see potential for a significant price move if the project can demonstrate real-world utility. Others remain skeptical, citing ongoing liquidity concerns and the failure to attract sustained demand. The next few months will be critical for Pi Network's ability to prove its value proposition to the broader market.