Pi Network Investment Analysis: Sponsored by TOKEN2049 + PiOnline game ecosystem expansion + technology upgrades can reverse market performance? |Pi Network latest news

Pi Network has accumulated more than 60 million users through mobile mining. Recently, it has become a gold-level sponsor of TOKEN2049 Singapore Conference and launched the game PiOnline that integrates DeFi. Despite the continuous upgrading of the v23 protocol and expanding the ecosystem, its tokens still face challenges such as insufficient liquidity, close to historical lows and high concentration. Projects need to break through bottlenecks such as main network practicality and exchange support before they can achieve value transformation. [Note⚠️, cryptocurrencies are high-risk investments, and you may lose all your principal. If you don’t understand, it is recommended not to participate. This video has no investment advice, only shared as information] Pi Network is unique in the cryptocurrency field with its huge user base and innovative mobile mining model, but the actual utility and liquidity challenges it faces cannot be ignored. Recently, Pi Network announced that it has become a gold-level sponsor of TOKEN2049 Singapore Conference, which marks that the project is actively seeking to increase its recognition on the global Web3 stage. Meanwhile, the Pi Network community launched a game called PiOnline, a game that combines DeFi and gaming elements to enhance user engagement and network utility through experimental economic models. These developments occur in the context of Pi Network's continued advancement of its v23 protocol upgrade, which aims to embed KYC permissions into the protocol layer and enhance smart contract capabilities. 1. Project Overview: From Mobile Mining to Open Main Network Pi Network was founded in 2019 and adopts an innovative mobile mining model that allows users to mine Pi coins through smartphone applications without the need for high-energy hardware devices. The project is based on a customized version of the Stellar Consensus Protocol, aiming to achieve wider accessibility and lower barriers to participation. After years of development, Pi Network has accumulated a considerable user base. According to the latest data, Pi Network has more than 60 million users, of which there are more than 14.82 million KYC-verified accounts on the main network blockchain. This user scale makes Pi Network one of the largest cryptocurrency projects. The development of Pi Network has gone through several critical stages. The project initially focused on user growth and mobile mining, transitioning to an open network in February 2025, allowing external connectivity. Subsequently, the project began to focus on building its mainnet ecosystem, and has now included more than 21,000 applications. 2. Technology progress: v23 upgrade and Linux node release Pi Network Recent technological progress is mainly reflected in two aspects: protocol upgrade and infrastructure expansion. In August 2025, the project announced the upgrade from v19 to v23 protocol version, which introduced several important features. One of the core features of v23 upgrades is to embed KYC permissions directly into the protocol layer. This design makes Pi a KYC-verified blockchain, while providing a more distributed, community-driven KYC process. Additionally, the upgrade also enhances security with biometric logins (such as fingerprint or facial recognition) and improved two-factor authentication. In terms of smart contract capabilities, the v23 version has made significant progress. This version supports automated payments, decentralized financial capabilities, and tokenized applications such as real estate or supply chains. Upgrade to use Soroban for smart contract operations to support the network to achieve broader practical goals. In addition to protocol upgrades, Pi Network also released the Linux version of node software on August 27, 2025, extending its support from Windows and Mac to Linux systems. This release provides standardized infrastructure for partners, including exchanges and developers. 3. Ecological development: Game and application scenario expansion Pi Network's ecosystem development is showing a trend of diversification. The recently launched PiOnline game represents a strategic attempt to combine entertainment with functionality. The game is described as an “experimental economy” that integrates agriculture, governance and DeFi into one experience. At the heart of PiOnline is “Genesis Farm”, which allows players to farm virtual land and receive staking rewards. The game adopts a dual token system: SEED as the in-game currency, and PIOL is used for decision-making of project DAO. In addition, the game plans to launch a battle royale mode to enhance competitiveness and attract a wider user base. This is not Pi Network's first attempt in the gaming field. Back in May 2025, the project launched the FruityPi game, aiming to showcase the actual use of its ecosystem tools, including Pi cryptocurrency, Pi wallet and Pi advertising network. In addition to gaming, Pi Network expands its ecosystem in other ways. The project has established a US$100 million ecological fund to support excellent games and decentralized applications built on the platform. In addition, the project has cooperated with Onramp Money to open a channel to purchase Pi directly in more than 60 countries, supporting local payment methods such as Alipay and GCash. 4. Market performance: Price trends and liquidity challenges Despite progress in technology development and ecological construction, Pi Network's market performance is still facing challenges. As of early September 2025, Pi coins were trading near historical lows, hovering around USD 0.34. This price level is about 88% lower than its all-time high. Market analysts point out that Pi Network faces multiple structural challenges. The most important of these are insufficient liquidity and limited exchange support. At present, Pi coins are not listed on major centralized exchanges, and users actually hold IOUs (IOUs) rather than actual tokens on some platforms. Another focus is the centralization of token distribution. Data shows that the top 100 wallets control 96.37% of Pi tokens, and this highly concentrated holding structure increases the risk of market manipulation. If the key support level falls, it could trigger a 23% price drop. Investor sentiment indicators also reflect the lack of confidence in the market in Pi Network. Pi's fear and greed index stays at a neutral 48, indicating that traders lack strong beliefs. The balance force index (BoP) is -0.70 and the RSI is 54.42, below the 50 threshold, indicating that there is a downward pressure. 5. Strategic layout: Event sponsorship and partnership Pi Network has recently taken a series of strategic measures to enhance its market position and credibility. Becoming a gold-level sponsor of TOKEN2049 Singapore Conference is one of the most compelling actions. TOKEN2049 is one of the world's largest Web3 events, with the 2025 event expected to attract more than 25,000 participants, 7,000 companies and 500 exhibitors. This sponsorship provides Pi Network with the opportunity to engage directly with crypto industry leaders and decision makers, and promises to help projects build strategic partnerships. In addition, Pi Network is constantly expanding its fiat currency portal services. Through integration with providers such as Onramper and Banxa, the project improves the convenience of users purchasing Pi coins. Recent collaborations with Onramp Money allow users to purchase Pi in more than 60 countries through local payment methods, including GCash, Maya and Alipay. The project also took measures to tighten the token economic model. In September 2025, the network reduced the basic mining rate by 1.23%, indicating a strategy to control supply management. This move is consistent with Pi's broader vision of balancing ecosystem development and token scarcity. 6. Investment prospects: Opportunities and risks coexist. From an investment perspective, Pi Network faces a situation where opportunities and risks coexist. The main advantage of the project is its huge user base and a highly involved community. More than 60 million users and 14.82 million KYC verification accounts provide a solid foundation for network effects. The project's recent technological upgrades, especially the implementation of the v23 protocol, are expected to improve the practicality, security and compliance of the network. Embedded KYC features and smart contract support may attract more developers and businesses to adopt the platform. However, investors also need to be wary of multiple risks. High centralization of tokens is an important concern, with the top 100 wallets controlling 96.37% of the supply. This situation makes the token price vulnerable to the actions of large holders. Insufficient liquidity is another major challenge. The failure of Pi tokens to go online on major exchanges limits its accessibility and increases price volatility. The lack of clear practical cases and a well-functioning mainnet is also worrying. The pressure of market competition cannot be ignored. Projects like Remittix (RTX) are gaining attention by addressing actual pain points such as high-cost cross-border payments. Remittix has processed more than 400,000 transactions with fees as low as 0.1%, and has attracted more than $22.4 million in pre-sale funds. 7. Conclusion: The gap between technology commitment and market reality Pi Network represents an interesting experiment in the cryptocurrency field: it attracts tens of millions of users through the mobile mining model and is working to transform these users into participants in the actual ecosystem. Recent technological upgrades and ecological developments in the project demonstrate that the team has made progress in solving key challenges. However, there is still a significant gap between technology commitment and market reality. Despite active developments such as v23 protocol upgrades and Linux node releases, the price performance of Pi tokens continues to be sluggish, reflecting the limited recognition of the current value of the project. For investors, Pi Network's success will largely depend on whether it can list on mainstream exchanges, show clear practical cases, and solve the problem of token centralization. Project participation in the TOKEN2049 event may help to establish the necessary partnerships, but the specific outcomes remain to be seen. Key indicators in the coming months include whether mainnet activity is growing, whether there are plans to go public on well-known exchanges, and whether ecosystem applications such as PiOnline can truly drive user engagement and network utility. Only with substantial progress in these areas can Pi Network overcome current market doubts and realize its ambitious vision. Pi Network is currently in a critical stage of development. Whether its technological upgrades and ecological construction can be transformed into actual value creation will determine the ultimate position of the project in the highly competitive cryptocurrency field. Investors should pay close attention to the progress of projects in exchange listing, mainnet activity growth and partnerships, which may significantly impact the future trajectory of Pi Network.