As Q4 begins, Pi Network is entering a critical phase marked by technical upgrades, community expansion, and market recalibration. Despite recent price volatility, the project continues to push forward with its roadmap, emphasizing utility, decentralization, and developer engagement.
Price Performance and Market Sentiment
Pi Coin has faced intense downward pressure in recent months. After reaching a high of $2.98 earlier this year, it dropped to a low of $0.2234 in late September and is currently trading near $0.2368. Daily trading volumes have fallen below $30 million, and the token has lost nearly 90% of its market cap since its peak.
Despite this, long-term forecasts remain cautiously optimistic. Some analysts project a recovery to around $0.3195 by year-end, with potential growth to $3.14 by 2031. The current price action reflects broader market uncertainty, but also underscores the importance of Pi Network’s upcoming upgrades.
Protocol 23 and Technical Advancements
The spotlight this month is on the rollout of Protocol 23, a major upgrade designed to improve wallet security, streamline KYC verification, and enhance interoperability across Pi apps. This follows the recent Passkey Update, which introduced stronger authentication features for user wallets.
The Open Network, launched earlier this year, continues to evolve, allowing external developers to build on Pi’s infrastructure. These technical milestones are part of Pi Network’s strategy to shift from speculative trading to real-world utility and decentralized access.
Ecosystem Growth and Community Engagement
With over 45 million users globally, Pi Network remains one of the largest mobile-first crypto communities. The ongoing 2025 Hackathon is energizing developers to build new apps and services, while grassroots events like the GCV conference are fostering deeper engagement.
The project’s messaging has shifted toward long-term value, emphasizing “community over speculation” and “utility over hype.” This philosophical pivot is resonating with users who believe in Pi’s mission to democratize access to Web3.
Key Developments to Watch
- Protocol 23 rollout: Expected to improve security and onboarding.
- Hackathon results: New apps could boost ecosystem utility.
- Price stabilization: Traders are watching for a move above $0.26.
- Mainnet updates: Further decentralization and KYC throughput improvements anticipated.
Pi Network’s journey in October 2025 reflects both the challenges and opportunities of building a decentralized ecosystem in a volatile market. While price action remains subdued, the project’s focus on infrastructure, community, and developer tools positions it for long-term relevance. Whether Protocol 23 delivers the momentum needed for recovery remains to be seen—but the groundwork is being laid for a more resilient and utility-driven future.