Pi Network’s coin, PI, rose by more than 3.5% over the past 24 hours, outpacing a broader crypto market that lost nearly 3%. 

The rise came as Pi Network began a design refresh of its mining app. The gain offered brief relief for a token that hit a record low days earlier. PI traded near $0.078, though it remains down more than 22% over the past week.

Pi Network Price Bounces Off a Record Low

PI touched an all-time low near $0.071 on July 14. The token has since recovered roughly 11% from that level.

Even after the bounce, PI trades about 97% below its February 2025 peak near $2.99. Its 30-day loss stands at roughly 42%.

Rising supply has weighed on the altcoin already stuck in a downtrend. About 10.9 billion PI circulate against a maximum of 100 billion, leaving room for further dilution.

According to PiScan data, roughly 4.25 million PI unlock each day, worth about $333,672 at current prices. That steady daily release adds fresh sell-side pressure with each session.

Pi Network Begins a Mining App Refresh

Pi Network redesigned the side menu and the app profile page in its mining app, marking the first step in a broader design refresh. The team said that the redesign lets Pioneers reach key account details and ecosystem tools faster.

The redesign lands ahead of Protocol v25, scheduled for July 22. The upgrade aims to improve network stability and add privacy-preserving smart contracts. 

Whether the update push can offset supply-driven selling remains the key test. The July 22 upgrade will show if utility gains start to translate into demand.

Source: BeInCrypto