The Pi Network project is continuing to grow and introduce exciting updates. However, the project’s digital currency, known as PI, has been losing value in the market. Let’s explore the latest news and developments.
The Latest Developments
In late August, the Pi Network Core Team launched an event called the “Pi Hackathon 2025.” A hackathon is a special contest where participants build apps or tools, often in a short period of time. This event had a prize pool of 160,000 PI tokens for the top eight projects. The main goal was to encourage talented members of the community, called ‘Pioneers,’ to create real-world apps that make the PI token more useful. The event concluded in mid-October.
Last week, the team announced the winners of the hackathon. The first-place prize of 75,000 PI tokens went to Blind_Lounge. This is a social and dating app where people can connect anonymously and only share their true identity if both parties agree. The second-place winner, Starmax, received 45,000 PI tokens. Starmax is a loyalty program app that helps businesses create rewards for their customers. Shoppers can earn rewards for spending PI at participating stores, while businesses can use the app to design programs that attract and engage customers. According to Pi Network, this app could become popular with many merchants thanks to its easy integration into existing business operations.
Future Steps for Pi Network
One of the main challenges for Pi Network users is completing KYC, or “Know Your Customer” verification. KYC is a process where users confirm their identity – it’s common in the financial world to help prevent fraud or illegal activities (read more about KYC). To solve this issue, the Pi Network team has added new tools powered by artificial intelligence (AI). These tools make the process faster and simpler for users.
Recently, an account on the platform X (formerly known as Twitter) called Pi News shared some positive updates. They stated that millions of users have successfully completed the KYC process. The focus will now shift to creating “utility applications.” These applications, often called DApps (decentralized apps), are tools or platforms that people can use for practical purposes, like selling goods or offering services using the PI token. According to Pi News, this is the key to making Pi more valuable and widely used.
The Value of PI Token
Despite the positive updates, the value of PI token continues to drop. Currently, the price is around $0.19, which is a 4% loss compared to yesterday. This is a big drop from its highest price of $3 earlier this year, representing a decrease of 93%.
A user on X named Web3_Vibes suggested that PI might be nearing its lowest price point for now. They believe the price could rise again if it stays near a key level of support ($0.192). A support level is like a ‘floor’ in the market where the price tends to stop falling and start increasing again.
Another factor to watch is the upcoming “token unlock.” This is when locked-up tokens become available for trading. In the next 30 days, 172.5 million PI tokens will be unlocked. When many tokens enter the market at once, it could lower the price further, as more people might start selling their tokens (learn more about token unlocks).
The Pi Network project is clearly making strides by building useful applications and solving user issues. However, the value of PI will greatly depend on how well these efforts translate into real-world adoption and support from users.