Despite technical setbacks, the Pi Network continues to capture attention across the crypto space. As of October 16, 2025, the project is navigating a critical phase in its development—marked by delays in its Protocol 23 upgrade and renewed volatility in Pi Coin’s value.
Protocol 23 Upgrade Hits a Snag
The much-anticipated Protocol 23 upgrade, essential for Pi Network’s transition to its open Miannet, is facing implementation delays. Reports of failed transactions on the testnet have raised concerns that the full launch may be pushed to late Q1 2026. This has frustrated many community members who were expecting faster progress.
Price Volatility and Recovery Signals
Pi Coin recently rebounded from a low of $0.15 to $0.22, reflecting cautious optimism among holders. However, the price dipped again by 2.3% within 24 hours, settling at $0.2106 on October 16. Analysts suggest that selling pressure may soon subside, supported by technical indicators and renewed investor interest.
Enclosed Mainnet Strategy: Crowd Power in Action
The network remains in its “Enclosed Mainnet” phase—a strategic move to build utility before full public launch. With over 47 million users, Pi Network is leveraging its grassroots momentum to foster app development and community-led integrations. This phase has sparked intense debate over decentralization, governance, and long-term viability.
Global Pi Market Expansion
Amid the turbulence, Pi’s ecosystem continues to grow. The Global Pi Market (GPM) now boasts over 208,000 users and 17,000+ listings, signaling real-world adoption despite price instability.
What’s Next for Pi Network?
- Miannet timeline: All eyes are on the revised roadmap for Protocol 23.
- Price resilience: Can Pi Coin stabilize above $0.20?
- Community engagement: Developer participation and grassroots events like the GCV conference may shape Q4 momentum.