- PI Network’s token remained under pressure, trading at $0.5517 despite daily gains.
- Userbase crossed 13 million, with over 3 million new Mainnet users added since Open Network activation.
Despite broader market recovery, Pi Network [PI] drew attention to itself for reasons beyond a modest price uptick.
Trading at $0.5517 after a 2.28% daily gain, the Pi token still lags, having dropped over 30% in the past month.
The underperformance of Pi Network is particularly noticeable when compared to other Layer 1 cryptocurrencies.
In fact, the decline is occurring alongside a drop in retail interest. Google Trends data supports this observation, indicating that search volume for “Pi Network” has fallen to just 8.
Interestingly, this decline in hype coincides with the network’s push toward real-world utility, three months after opening up its blockchain.
Pi Network: A 100-day sprint
Pi Network’s shift to an open-access model in February signaled a major turning point in its evolution.
After years in a closed environment, the launch of the Open Network enabled developers, users, and verified businesses to interact with the Pi blockchain more freely, paving the way for practical applications.
Since then, the network has recorded impressive growth, with over 3 million new users joining the Mainnet, bringing the total to more than 13 million.
According to the Pi Core Team, over 7.4 billion Pi have been migrated, with 5.2 billion locked, 2.2 billion unlocked, and more than 400,000 nodes now active.
Remarking on the same, a user noted,
“Behind every great blockchain is a decentralized army — and Pi has just that. With over 400,000 active Nodes across Testnet1, Testnet2, and Mainnet, Pi Network has built one of the most robust, resilient, and secure distributed infrastructures in the crypto world.”
Here’s why its ecosystem is booming
Pi Network has also introduced key upgrades to its Ecosystem Interface to enhance user and developer experiences.
The revamped interface now features a simplified application process for developers looking to integrate their apps, making onboarding more accessible.
Alongside a more intuitive and user-friendly design for smoother navigation, the platform also launched the Pi Ad Network, an initiative aimed at supporting app developers in monetizing their projects within the Pi ecosystem.
What’s behind this?
This expansion has gained considerable momentum, driven by both user engagement and strategic investments.
According to the platform’s blog, the ongoing Pi Domains Auction has attracted more than 123,000 active bids from 57,000 unique participants, amassing over 3 million Pi in total bids.
In a bid to accelerate real-world utility and adoption, the network launched a $100 million fund in May, Pi Network Ventures, geared toward supporting startups aligned with Pi’s mission.
One of the early projects includes FruityPi, a fruit-matching game built by community devs to support Pi’s push into gaming.
Criticism persists
Yet, despite these advancements, Pi’s journey hasn’t been without scrutiny, as critics continue to evaluate its long-term viability.
Back in March, Pioneer Dr. Altcoin had posted,
“I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. It is likely that the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT.”
Therefore, given the current volatility, as recently highlighted by AMBCrypto, all eyes now turn to what unfolds next.
