Pi Network (PI) Slips 2% to $0.078 as Major Desktop Upgrade Rolls Out
Key Takeaways
- •Pi Network's PI token declined 2% to $0.078 on October 24, in line with a market-wide downturn that reduced total cryptocurrency capitalization by 1.37% to $2.7 trillion.
- •The price drop came as Pi Network released a major upgrade to its desktop software, extending the project beyond the smartphone application through which users mine PI.
- •Pi Network was founded by Stanford PhDs Nicolas Kokkalis and Chengdiao Fan and enables users to mine PI tokens via a mobile app.
- •The project's mainnet opened to external connectivity in February 2025, allowing PI to trade on outside exchanges for the first time.
- •With external trading open only since February 2025, PI is still in an early phase of price discovery, which complicates the interpretation of its recent price action.
Pi Network (PI) is down 2% today, October 24, trading at $0.078 at the time of writing, according to a CoinGape report carried by CryptoNewsNet. The dip mirrors a broad downtrend across the wider cryptocurrency market, where total market capitalization has fallen 1.37% to $2.7 trillion.
The price action comes as Pi Network rolls out a major upgrade to its desktop software, a development highlighted in the report, which also raises the question of whether PI can hold the $0.078 level in the near term. The rollout extends the project's software footprint beyond the smartphone application through which users mine PI, and it lands while overall crypto valuations are contracting — a combination that makes project-specific signals harder to read against market-wide moves.
Pi Network is a cryptocurrency project that allows users to mine PI tokens through a smartphone application. Founded by Stanford PhDs Nicolas Kokkalis and Chengdiao Fan, the project opened its mainnet to external connectivity in February 2025, enabling PI to trade on outside exchanges for the first time. With external trading open only since February, PI is still in the early stretch of price discovery on outside exchanges, meaning both the desktop upgrade rollout and the broader market pullback are unfolding against a comparatively short open-market trading history.
