Pi Network’s Mainnet Migration Reaches 12 Million Users

Pi Network has made a big stride in the evolution of blockchain technology by successfully migrating more than 12 million users to its Mainnet. PI’s price has declined 17% in the last 30 days and dropped by 45% in the last 90 days. The token is now trading at about $0.374.

Protocol 23 Upgrade

Pi Network’s Protocol 23 upgrade, slated for September 2025, is designed to enhance the ecosystem’s scalability and security. One of the major changes is from custom node builds to Linux-based nodes. This gives node operators the ability to self-manage software updates or enable auto-updates, increasing system stability. More than 65 million users have already completed the KYC verification, providing the infrastructure that a compliant DeFi ecosystem requires.

However, the upgrade has some competition. Remittix ($RTX) has established itself as formidable competition with its low fees of up to 0.1% for the remittance, substantially beating out traditional blockchain networks as well as Pi’s own ecosystem goals. The success of Pi’s upgrade is therefore a matter of execution and adoption, particularly of third-party integrations and the expanding PiOnline ecosystem.

Ecosystem of Gaming and DeFi

PiOnline’s growth is an important part of Pi Network’s growth strategy. Over 20,000 apps are in development, which are aimed at the huge 65 million-user base. The ecosystem is also expanding globally by supporting local payment methods in over 60 countries. The fact the PI price only increased by 1.5% a week demonstrates market hesitation. Despite attempts to create some activity, such as the introduction of Genesis Farm and a planned battle royale mode, many users are sceptical of the long-term viability of the virtual economy. Meanwhile, miners complain of being frustrated by the lower mining rate, so it takes them more time to earn PI without bonuses.

One thing to note to support the PI price in the short term is the accumulation of 331 million PI (~$114M) by a whale since May 2025. This massive holding could help to provide stability by countering short-term sell-offs. However, with the growing supply on exchanges and future unlocks of tokens, sell pressure appears to be a constant feature. The 200-day EMA at $0.71 is a strong resistance level that the token finds hard to break. Analysts expect that without any significant adoption or ecosystem-driven demand, PI’s price can be susceptible to bearish trends.