The crypto market had another strong week, with Bitcoin reaching a new all-time high above $126,000 and Binance Coin (BNB) surging past $1,300, becoming the third-largest cryptocurrency. Most major altcoins followed with solid gains, continuing the broader rally.
But once again, Pi Network was an outlier – and not in a good way. While the rest of the market climbed, Pi barely moved. And when Bitcoin saw a modest correction after hitting new highs, Pi dropped sharply, falling over 8% in a single day. The token briefly dipped below $0.24, nearly setting a new all-time low. As of now, it trades less than two cents above its lowest recorded price of $0.223.
No Real Recovery Since Breaking $0.30
Since Pi Network fell below the $0.30 mark, the token hasn’t managed to recover. In fact, it hasn’t even tested that level again. The chart from June onward tells the story – a slow, steady decline from around $0.65 to the current $0.24, without any significant bounces along the way.
This gradual but persistent drop has erased almost 92% of Pi’s value since its February launch peak near $3. While other coins have bounced back strongly after April selloffs, Pi continues to trend in the opposite direction – with low volatility, weak volume, and no clear catalyst for reversal.
Read also: Why Pi Network’s Price Isn’t Moving Despite Market Rally
DEX and AMM Launch on Testnet Fails to Lift Sentiment
Earlier this month, Pi Network rolled out its decentralized exchange (DEX), automated market maker (AMM), and token creation tools – though only on its Testnet for now. The update allows users to experiment with token swaps, liquidity pools, and test-token minting in a low-risk environment.
While the Pi Core Team described this as a major step in strengthening the ecosystem and preparing for future utility-focused DeFi, the market response has been nearly nonexistent. Despite the technical milestone, Pi’s price didn’t move. The update was also overshadowed by the broader crypto rally – one in which Pi failed to participate.
Same Problems Persist: No Listings, Daily Unlocks, Fading Interest
The root issues dragging down Pi remain unchanged. The lack of listings on major exchanges continues to limit market access and liquidity. Despite community speculation following a previous collaboration with Sign Protocol – a project backed by a Binance-linked fund – no listing has materialized. Binance has remained silent on the project.
Read also: Pi Network Teams Up With Sign Protocol – A Step Toward Binance Listing?
At the same time, Pi’s token unlock model continues to put pressure on the price. Daily supply increases are ongoing, and while larger unlocks are planned for the future, current circulation already appears to be outpacing demand.
Sentiment in the broader community also seems to be fading. Online discussions have shifted from speculation and price predictions to frustration and skepticism. The idea of a slow-motion collapse is no longer a fringe opinion.
What’s Next?
The rollout of DeFi tools on Testnet shows Pi Network is still developing — but at the same time, its token continues to struggle. While the crypto market rallies and projects across the board show strength, Pi remains near its all-time lows.
Unless something changes – either with listings, tokenomics, or stronger use cases – price action suggests the market isn’t convinced by updates alone. The gap between development progress and market trust keeps growing, and for now, there’s little sign of a turnaround.
