Pi Network token drops 17% to $0.43 as 10.8M tokens unlock 65M users 400K nodes signal resilience

The Pi Network, a cryptocurrency project launched in 2019, continues to face scrutiny despite its growing user base and infrastructure. While its token price has struggled to exceed $0.67 since June and recently dropped 17% to $0.43 within a month, the platform’s fundamentals suggest a different narrative. Analysts highlight metrics such as 65 million global users, 4.34 million followers on X (third among top 10 cryptos), and 400,000 operational nodes as indicators of resilience [1].

The price decline has been exacerbated by recent market dynamics. On July 28, 2025, 10.8 million PI tokens were unlocked, marking the largest release of the month. Such large-scale token unlocks typically increase circulating supply and downward pressure on prices [1]. However, the platform’s ecosystem remains active: over 18 million users have completed KYC verification, and 13 million have transferred their tokens to wallets, despite limited availability on major exchanges [1].

Kim H. Wong, a crypto analyst, argues that Pi Network’s achievements outweigh its current valuation challenges. The project’s user base spans 200 countries, with 4.34 million X followers—trailing only Binance and Bitcoin [1]. Its technical infrastructure includes 400,000 nodes across Testnet1, Testnet2, and Mainnet, a metric often associated with network security and decentralization [1]. Additionally, Pi has rolled out initiatives like the $100 million Pi Ventures Fund, Pi App Studio, and FruityPi, signaling efforts to expand utility beyond speculation [1].

Real-world adoption is another focal point. Over 27,000 merchants in Asia, Africa, and Latin America now accept Pi for transactions, and a "Buy Pi" feature in the wallet enables fiat-to-PI conversions. These developments align with broader trends in crypto adoption, though the token’s price remains a contentious issue [1].

The mixed signals raise questions about Pi Network’s long-term viability. While user growth and infrastructure development are robust, the token’s failure to break out of a $0.39–$0.67 range since June underscores market skepticism. Analysts remain divided: some view the metrics as proof of a sustainable project, while others caution that token unlocks and speculative sentiment could delay a $1 price target [1].

Source: [1] Is Pi Network a Scam That’ll Never Hit $1 Again? 65M Users, 4.3M Followers, 400K Nodes Say Otherwise (https://coinpedia.org/news/is-pi-network-a-scam-thatll-never-hit-1-again-65m-users-4-3m-followers-400k-nodes-say-otherwise/)