PI climbed around 3.5% in 24 hours on July 22 while much of the broader crypto market was sliding, with the move coinciding almost exactly with the official launch of Protocol v25 and a visual overhaul of the Pi Network app. The timing was hard to ignore.
The app update itself started with a redesigned side menu and profile page, meant to make it easier for users to move around their accounts and ecosystem tools. Pi's developers called it the first phase of a wider redesign. Behind the interface changes, Protocol v25 brought what the team described as network stability improvements and privacy-preserving smart contracts, along with groundwork for a Pi DEX and open-source development. The Stellar comparison floating around community channels refers to the protocol architecture choices underpinning these upgrades.
Pi has been a mobile-mining project since its earliest days, asking users to tap a button once a day to earn tokens. That mechanic built a massive user base, but mining difficulty has crept up steadily as the network grew, making it genuinely hard to accumulate even a single PI coin at current rates.
Supply pressure keeps a lid on the rally
The token's longer story is less cheerful. PI hit an all-time low near $0.071 not long before this bounce, and it is still nowhere close to its early-2025 peak of roughly $2.99. With about 10.9 billion tokens already in circulation against a 100 billion maximum, the supply pipeline is wide open. Around 4.25 million PI unlock every single day, adding roughly $333,000 worth of new tokens to the market at current prices. That constant drip tends to absorb buying pressure before any rally can really get going.
Whether Protocol v25 changes that calculus depends on how quickly actual utility materialises on the mainnet. For now, traders took the upgrade as a reason to buy. Whether they stay is another question.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
