What could affect the price of PI?
Pi’s future depends on how smoothly users migrate their tokens, changes in token supply, and how widely the network and apps are adopted.
- Grace Period Deadlines – Users must complete identity verification (KYC) and migrate their tokens by February 2025 to avoid losing some tokens or causing supply to tighten.
- Token Unlocks – Over 165 million PI tokens will become available by September 2025, which could increase selling pressure.
- Mainnet Utility – The launch of Pi’s Mainnet (Open Network) in early 2025 and growth of decentralized apps (dApps) are key to creating real demand for PI.
Deep Dive
1. Migration & Supply Dynamics (Mixed Impact)
Overview:
Pi extended its deadline for users to verify their identity and move their tokens to the Mainnet until February 28, 2025. If users don’t migrate, they risk losing tokens mined before 2024, except for earnings from the last six months. Between June and August 2025, over 250 million PI tokens were moved to Mainnet wallets, and more than 165 million tokens are scheduled to unlock in September.
What this means:
In the short term, delays in migration and the unlocking of tokens (like the 13 million PI unlocking on September 21) could increase the number of tokens available to trade, which might push prices down. Over the long term, as more users successfully migrate and start using their tokens, the number of inactive tokens will drop. This could help stabilize prices if demand from real-world use grows enough to absorb the new supply.
2. Ecosystem Growth vs. Centralization Risks (Bullish/Bearish)
Overview:
Pi Network has created a $100 million fund to support the development of decentralized apps (dApps) and hosts events like PiFest, where over 1 million users transact with PI. However, one wallet, known as “GAS…ODM,” holds 350 million PI (worth about $134 million), raising concerns about too much control being in one place.
What this means:
Large holders, or “whales,” accumulating PI can show confidence in the project (source) but also create risks of price manipulation. While ecosystem growth and faster identity verification processes (source) can encourage adoption, heavy reliance on a few large holders might discourage a truly decentralized community.
3. Exchange Listings & Liquidity (Bullish Catalyst)
Overview:
PI is currently traded on exchanges like Gate.io, OKX, and Bitget but is not yet listed on major platforms like Binance or Coinbase. A recent listing on Swapfone has made PI easier to access, and rumors about integration with Solana (source) suggest potential for cross-chain use.
What this means:
Getting listed on major exchanges would increase liquidity (ease of buying and selling) and boost the project’s credibility. Right now, PI’s trading volume is low (turnover of 0.0197), which means the market is not very liquid and prices can be volatile. A Binance listing, for example, could trigger a big price jump similar to what other altcoins have experienced after getting listed.
Conclusion
Pi’s price will likely fluctuate based on supply changes (like token unlocks and migration delays) and adoption milestones (such as the Mainnet launch and dApp growth). Keep an eye on the February 2025 migration deadline and exchange listing rumors for clues about where the price might head. The big question is whether Pi’s community-driven approach can balance out inflationary pressures or if large holders will limit its growth potential.
What are people saying about PI?
The Pi community is feeling a mix of cautious optimism and frustration as large token unlocks coincide with ongoing development. Here’s what’s currently shaping the conversation:
- Bearish signals suggest prices could fall further due to a big wave of token unlocks.
- Hopeful signs of a turnaround spark interest, even though momentum is weak.
- New app features are trying to ease concerns about tokens moving to exchanges.
In-Depth Look
1. Bearish Unlock Wave Ahead 🔴
@johnmorganFL points out:
"Between June and August, 628 million Pi tokens will be unlocked — that’s about 7.6% of all tokens currently circulating. Without a big increase in demand, this could hurt price recovery."
See original post
What this means: This is a warning sign for Pi. Scheduled token releases (263M in June, 233M in July, and 132M in August) could flood the market, making it hard for prices to rise from the current $0.27 level.
2. Optimism Around V23 Upgrade 🟢
@HolaItsAk47 shares:
"The September upgrade, which includes smart contracts and Linux node support, might finally bring real use cases — if developers deliver on it."
See original post
What this means: This is cautiously positive. Technical improvements could attract developers and users, but a recent 23% weekly price drop shows many remain skeptical about immediate benefits.
3. Tokens Moving to Exchanges Increase ⚠️
@Dr_Picoin notes:
"Last week, 2.1 million Pi tokens were transferred to exchanges — the highest since March. This could mean more selling ahead or maybe preparation for a Binance listing?"
See original post
What this means: This is a mixed but slightly negative sign. More tokens on exchanges (346M as of September 2025) usually means selling pressure, though some see it as a sign of an upcoming exchange listing.
Conclusion
Opinions on Pi are divided. While the ecosystem is growing—with over 21,000 apps created through Pi Studio—the large token unlocks and weak price action keep many cautious. The upcoming September 30 auction for .pi domain names will be important: strong bids could show developer confidence, while low interest might reinforce bearish views.
What is the latest news about PI?
Pi Network is navigating a challenging market with important updates on its technology and trading environment:
- Leveraged Tokens Removed (September 25, 2025) – Gate.com stopped trading certain PI leveraged tokens after sudden price swings, and is buying back these tokens at twice their current value.
- Altcoin Focus (September 26, 2025) – MEXC highlighted Pi as a risky but potentially rewarding altcoin during a period of increased interest in alternative cryptocurrencies.
- Protocol v23 Update (September 19, 2025) – Pi Network’s test version introduced new features to decentralize identity verification and improve blockchain functions.
In-Depth Look
1. Leveraged Tokens Removed (September 25, 2025)
What happened: Gate.com halted trading for PI3L, PI3S, PI5L, and PI5S leveraged tokens after a sharp drop in their value during a 15-minute period on September 22. The exchange is buying back these tokens at double their net asset value (NAV) and offering extra compensation to some users.
Why it matters: Removing these leveraged tokens limits risky trading options for Pi users, which might reduce short-term trading activity. However, Gate.com’s buyback plan aims to ease concerns among the community. (Gate.com)
2. Altcoin Focus (September 26, 2025)
What happened: MEXC, a cryptocurrency exchange, pointed out Pi Coin as a speculative altcoin worth watching because of its $2.9 billion market cap, strong mobile user base, and favorable market conditions in 2025. Still, they warned about challenges like limited places to trade Pi and its inflationary token model.
Why it matters: Being highlighted during a surge in altcoin interest could bring more traders to Pi. But the coin’s recent 50% price drop over 90 days shows ongoing selling pressure, especially as more tokens become available. (MEXC)
3. Protocol v23 Update (September 19, 2025)
What happened: Pi Network’s test environment launched Protocol v23, which integrates Know Your Customer (KYC) verification directly into the blockchain. This update is based on Stellar’s technology and adds AI tools to help developers build apps.
Why it matters: Decentralizing KYC could speed up Pi’s move to its main network and reduce dependence on centralized authorities, which is good for long-term growth. However, the new technology might take time for users and developers to fully adopt. (Pi Core Team)
Conclusion
Pi Network is at a crossroads: its technical upgrades show progress, but trading challenges and token unlocks are testing investor confidence. With growing interest in altcoins, the key question is whether Pi can use its strong community to overcome inflation and technical hurdles or if these issues will keep the price under pressure. Watch for how many users move to the updated network and how Protocol v23 performs in the coming months.
What is expected in the development of PI?
Pi Network is making steady progress with these key milestones:
- Open Mainnet Launch (2025) – Preparing the network to connect with other blockchains and meet regulatory requirements.
- Protocol v23 Testnet Upgrade (September 2025) – Improving identity verification and adding smart contract features.
- .pi Domain Auction Deadline (September 30, 2025) – Expanding the use of Pi for Web3 identities and apps.
In-Depth Look
1. Open Mainnet Launch (2025)
What’s happening: The Open Mainnet launch, now expected in early 2025, is a major step for Pi Network. It will allow Pi to work with other blockchain networks, support transactions across multiple blockchains, and be compatible with various digital wallets. Recent updates like Node v0.5.2 and better identity verification (KYC) processes (Pi2Day 2025) are important building blocks for this.
Why it matters: This could make Pi more useful and open doors for it to be listed on cryptocurrency exchanges, leading to wider adoption. However, delays and regulatory challenges could affect the timeline.
2. Protocol v23 Testnet Upgrade (September 2025)
What’s happening: The upcoming Testnet v23 upgrade will automate the KYC approval process, improve how data is handled, and introduce smart contract capabilities. The network is gradually moving from Protocol v19 to v23 (X post).
Why it matters: This upgrade could speed up user onboarding and add new features, but the technical complexity might slow down full implementation.
3. .pi Domain Auction Deadline (September 30, 2025)
What’s happening: The auction for .pi domain names, which are Web3 identifiers for apps and services, has been extended to September 30, 2025. More than 200,000 bids have been placed so far, with funds supporting the Pi ecosystem’s growth (Pi Domains Update).
Why it matters: This supports developer activity and the growth of decentralized apps on Pi, though there are concerns about having too many domains available.
Summary
Pi Network’s future depends on launching the Open Mainnet, upgrading its testnet, and expanding tools like .pi domains. While technical progress and community efforts are promising, delays and regulatory issues remain challenges. The big question is how Pi will balance being decentralized with following regulations as it opens up to the wider blockchain world.
What updates are there in the PI code base?
Pi Network is making important updates to its technology, focusing on improving the core system, enhancing node software, and providing better tools for developers.
- Protocol v23 Launch (September 18, 2025) – Integration of Stellar Core v23 improves speed, security, and compliance.
- Testnet Upgrade in Progress (September 12, 2025) – Step-by-step update from version 19 to 23 to test new features.
- Pi Desktop & Node v0.5.3 Release (July 11, 2025) – Updated desktop app with bug fixes and automatic updates.
Deep Dive
1. Protocol v23 Launch (September 18, 2025)
What’s happening: Pi Network has started rolling out its Protocol v23 upgrade, which includes the latest Stellar Core v23 and Horizon v23 software. This upgrade improves how the blockchain performs, helps it meet regulatory requirements, and makes it easier to work with other Stellar-based systems.
The update focuses on making transactions faster and more reliable while following legal standards. Node operators (people running the network’s computers) need to update their software to keep participating.
Why it matters: This is a positive development for Pi because it strengthens the network’s foundation, potentially speeding up transactions and allowing better interaction with other blockchains. (Source)
2. Testnet Upgrade in Progress (September 12, 2025)
What’s happening: Pi’s Testnet—the testing environment for new features—is being upgraded gradually from version 19 to 23. This allows developers to try out improvements in scalability (handling more users) and new smart contract features safely before they go live.
The upgrades include changes to the system’s structure and how nodes communicate. Developers can also use updated software development kits (SDKs) to build apps.
Why it matters: This is a routine but important step. It shows ongoing innovation, though the real impact depends on how smoothly these changes move to the main network. (Source)
3. Pi Desktop & Node v0.5.3 Release (July 11, 2025)
What’s happening: The Pi Node app was renamed “Pi Desktop” to better reflect its role in managing nodes, mining, and app development. The latest version, 0.5.3, adds automatic updates, fixes compatibility issues, and improves usability with features like resizable windows and public key display for troubleshooting.
More than 2.6 million users now have the desktop app installed, supporting decentralized app development.
Why it matters: This update makes it easier for people to run nodes and develop apps, which helps grow the Pi ecosystem. (Source)
Conclusion
Pi Network’s updates focus on making the system more scalable, compliant with regulations, and developer-friendly. While technical improvements like Protocol v23 and Testnet upgrades set the stage for future growth, wider adoption will depend on overcoming challenges like identity verification (KYC) and getting listed on exchanges. The big question remains: will these infrastructure upgrades lead to noticeable growth in late 2025?
Why did the price of PI go up?
Pi (PI) increased by 1.24% in the last 24 hours, reaching $0.269. This is a small recovery after a 24% drop over the past week. The main reasons for this change are:
- Technical Rebound: The coin was oversold, which encouraged short-term buying.
- Ecosystem Updates: The launch of the Pi Ad Network pilot on September 18 added new ways to use PI.
- Market Sentiment Shift: Expectations of a Federal Reserve interest rate cut on September 25 boosted riskier assets like cryptocurrencies.
Deep Dive
1. Technical Rebound (Mixed Impact)
Overview: On September 26, PI’s Relative Strength Index (RSI) dropped to 29.74, indicating it was oversold. At the same time, the price tested a key support level at $0.26. In the past, PI has bounced back from similar conditions.
What this means: Short-term traders likely took advantage of the oversold situation to buy PI. However, the coin is still trading below important moving averages (7-day average: $0.298, 30-day average: $0.341), which suggests the overall momentum remains weak.
2. Pi Ad Network Pilot (Bullish Impact)
Overview: On September 18, Pi started a pilot program for its ad network. This network requires users to pay for ads using PI tokens, creating a direct use for the coin within the ecosystem.
What this means: This new use case could reduce selling pressure if more people adopt the ad network. However, since the pilot is currently limited to the Fireside Forum app, its immediate effect on PI’s price is modest.
3. Macro Sentiment Lift (Neutral Impact)
Overview: The Federal Reserve cut interest rates by 0.25% on September 25, which generally increased investors’ willingness to take risks. Bitcoin rose by 2.3%, and other cryptocurrencies followed.
What this means: PI’s recent gain fits with the overall positive trend in crypto markets. Still, PI has lost 38% over the past 60 days, underperforming compared to coins like SHIB, which gained 15% last week.
Conclusion
PI’s recent price increase is driven by a combination of technical buying and cautious optimism about new ways to use the coin. However, challenges like upcoming token unlocks and low trading volume limit the potential for a strong rebound. Key point to watch: Will PI maintain support at $0.26, or will the large token unlock in September (233 million tokens) trigger more selling?