Pi Network's Quiet Revolution: Progress Without Popularity

Pi Network has experienced a mixed response to its recent developments, despite significant technological upgrades and expanded market access. The project's latest protocol update, version 23, which integrates features inspired by Stellar’s protocol, marks a key technical milestone. This update is designed to enhance network stability, scalability, and cross-chain compatibility, with a staged rollout including Testnet 1, Testnet 2, and a future Mainnet transition. However, despite these advancements, the PI token has failed to gain traction, remaining below $0.35 and continuing to trade below its 20-day exponential moving average of $0.36. Market indicators like the Chaikin Money Flow remain bearish, signaling ongoing outflows and weak investor sentiment [4].

In parallel, Pi Network has expanded its accessibility through a major listing on Onramp Money, allowing users in over 60 countries to purchase the token using local payment methods such as Alipay, Maya, and GCash. This marks one of the first large-scale fiat gateways into Pi and is seen as a step toward broader adoption. Despite this, Pi’s price has fallen by nearly 81% over the past six months, with a 4.5% decline in the last 24 hours as of late August 2025. Analysts suggest that the project's strategy is to prioritize ecosystem utility over speculative trading by channeling token distribution through regulated partners like Onramp, Banxa, and TransFi [2].

The Pi Core Team continues to emphasize a long-term approach, with a focus on real-world integration, compliance, and user engagement through applications and peer-to-peer transactions. A growing number of users—over 65 million across more than 200 countries—remain central to the project’s potential for future growth. Additionally, the network has launched a Linux node release, strengthening its infrastructure and compatibility with a wider range of systems [1]. Analysts such as Dr. Altcoin argue that these developments, while not immediately reflected in the price, are critical for building a sustainable foundation for Pi’s future.

Despite the project’s technical progress and expanding access, the market remains skeptical. The recent protocol upgrade failed to trigger any meaningful bullish reaction, with the token price stagnating near $0.34. This disconnect between innovation and investor confidence highlights the challenge Pi faces in converting its technical achievements into tangible market value. The absence of clear tokenomics and the uncertainty surrounding the full opening of the Mainnet—where frozen Pi balances might be unlocked—also contribute to this inertia. For the project to see renewed interest, it will likely need to provide clearer timelines and demonstrate stronger utility outside its core community [4].

Looking ahead, the potential introduction of a Pi ETP (exchange-traded product) in Europe could offer traditional investors a regulated avenue to gain exposure to the asset. This move aligns with Pi Network’s broader strategy to attract institutional interest while maintaining a focus on compliance and controlled adoption. However, for the token to achieve the ambitious price targets of $10 or even $100, analysts argue that Pi would need to grow its market cap by more than 29,000%—a feat that remains highly improbable under current conditions. Most forecasting models, including those from CoinCodex, suggest that Pi is unlikely to surpass $10 even by 2050 [1].

In summary, Pi Network continues to make behind-the-scenes progress with upgrades, partnerships, and user growth, but the market has yet to respond with renewed optimism. Whether this translates into long-term value will depend on the project’s ability to build trust, demonstrate utility, and align with broader market expectations in the years ahead.

Source:

[1] Can Pi Network Price Hit $100? (https://coinpedia.org/news/can-pi-network-price-hit-100-2/)

[2] Pi Network Secures Major Listing, Boosting Pi Coin's ... (https://coingape.com/pi-network-secures-major-listing-boosting-pi-coins-adoption/)

[3] Major Pi Network Listing News: Could This Be the Start of a ... (https://coindoo.com/major-pi-network-listing-news-could-this-be-the-start-of-a-massive-comeback/)

[4] Pi Network Adopts Stellar 23 With Little Market Impact (https://www.cointribune.com/en/pi-network-adopts-stellar-23-with-little-market-impact/)