Pi Coin Nears Collapse — Can the Hackathon and Version 23 Upgrade Save It?

• Pi coin trades near $0.2157, close to all-time lows.
  
• Developer activity is strong, with 210+ DApps and 23K projects in Pi Studio.
  
• Hackathon and version 23 upgrade could influence future network recovery.

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Pi Network continues to face challenges in 2025 as its native token, Pi coin, hovers around $0.2157, just weeks after hitting an all-time low of $0.1585 on October 11. The rapid decline has raised concerns about the coin’s viability and whether upcoming events can reverse the downward trend.

Developer Activity Remains Strong

Despite the price struggles, the Pi ecosystem shows signs of life. According to Pi News, the network hosts over 210 decentralized applications (DApps) and has more than 23,000 projects in development through Pi Studio on the mainnet. This growing developer interest suggests the platform’s long-term potential, as active projects could eventually help stabilize and increase the token’s value.

Upcoming Events Could Influence Recovery

Two major events may shape Pi’s trajectory in the coming months. First, the Pi Hackathon, which began in August 2025, is set to close on October 15. Projects like Starmax, Nature’s Pulse, and Eternal Rush are expected to boost user engagement and network activity.

Second, the planned protocol upgrade to version 23, scheduled for late Q4 2025 or early 2026, promises improvements in scalability, transaction speed, and overall network efficiency. These technical enhancements could attract new users and developers, creating positive momentum for the coin.

Also Read: Pi Network Set for Protocol 23 Upgrade — Can Pi Coin Recover?

Price Recovery Is Not Guaranteed

While Pi Network’s developments are promising, they don’t guarantee a price rebound. On October 1, the network added decentralized exchange (DEX) and automated market maker (AMM) functionalities to its testnet, allowing users to explore token swaps and liquidity pools. Yet, the coin still recorded new lows in October, showing that market confidence has yet to fully respond.

Pi Network is navigating a critical period, balancing a declining token price with active development and upcoming upgrades. Whether these efforts can reverse Pi’s slide remains uncertain, but the growing ecosystem indicates the project is far from stagnation. Investors and developers will be watching closely in the coming months.

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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Andrew Chen

I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.