On July 22, 2026, Pi Network launched Protocol v25, a significant update to its system. However, despite a temporary price increase that pushed the PI token above $0.10, it quickly fell back down and remained below that mark.
The latest results were similar to previous improvements. While new updates initially attracted traders, they didn’t lead to any significant or sustained increase in price.
Pi Coin’s Rally Stalls Amid Protocol Upgrade
On July 14th, PI reached its lowest price ever at $0.0705. It rebounded over the next week, briefly rising to $0.103 on July 19th, but couldn’t maintain that price.
Investors started buying ahead of the July 22nd update, which had been anticipated for some time and provided a specific date for traders to focus on. We saw both prices and trading activity go up leading up to the event.
Pi coin has since eased back toward $0.0918, unable to reclaim the $0.10 level it briefly tagged.
Trading activity also reflects this pattern. Daily trading volume increased to $33.7 million on July 20th, but dropped to around $18.5 million on the launch date and has remained lower since then, indicating that buyer interest decreased after the initial event.
In June, Protocol v24 behaved much like it did previously: its price increased slightly before the planned update, but then began to fall again.
Why the Pi Network Upgrade Struggles to Move Price
Protocol v25 upgrades Pi Network with advanced cryptography (BN254) and hashing technology (Poseidon), essential for creating cutting-edge zero-knowledge applications. The team also released a new and improved mining app for Pi’s 60 million users, known as Pioneers.
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As a researcher following the Pi Network, I’m pleased to report that the Pi Mainnet blockchain has been upgraded to Protocol 25. In related news, the Clarity Act is nearing passage. A key development is that Donald Trump has agreed to the ethics clause in the revised draft. This clause would prevent all federal officials, including the President, from personally profiting from the issuance or promotion of digital assets.
— Woody Lightyear 𝛑 (@WoodyLightyearx) July 22, 2026
While things have genuinely improved, prices haven’t increased much in response. This is likely due to overall market conditions and the amount of product currently available from PI.
There’s no indication of panicked selling on exchanges. Over the past 24 hours, exchange wallets saw a small net outflow of around 260,000 PI, which is a relatively insignificant change considering the total balance of nearly 540 million PI.
The selling pressure is expected to come from existing token holders rather than new sales. Data from PiScan shows that around $157 million worth of PI – approximately 1.71 billion tokens – will become available for sale over the next year. The largest release, about 432 million PI, is anticipated in December 2027.
Consistent selling pressure is meeting weak demand, limiting price increases even with positive news. This same issue previously hindered earlier attempts to boost prices.
Positive news about the project often causes temporary price increases, but the amount of tokens available for sale limits how high the price can go. The key question now is whether the latest updates will actually attract enough users to drive sustained demand.
2026-07-23 10:22