Rapidly upgrading the ecosystem, why is the price of PI still stagnant?

Pi Network (PI) has joyfully celebrated Pi2Day (28/6) by introducing two important upgrades to its ecosystem.

The highlight of this event is the launch of a no-code application builder integrated with AI, along with a new community-led staking model – paving the way for a breakthrough approach in promoting applications on the platform.

Nevertheless, the price action of PI and user sentiment still reflect caution, indicating that market confidence has not fully kept up with the technological advances that the project is pursuing.

Pi2Day brings a series of major updates

Pi Network officially launched Pi App Studio – a no-code application development platform, integrating artificial intelligence (AI), allowing users to create applications simply by using natural language.

This groundbreaking tool not only helps create chatbots easily but also comes with a new testing feature that converts user voice or text commands into practical operable application logic.

At the same time, Pi Network also introduced the Ecosystem Directory Staking – a community-driven staking model that allows users to lock Pi into listed applications to increase visibility and reach. This approach opens up a new direction, replacing the traditional advertising method that is often costly and unsustainable.

The more staking there is, the easier the application is for the community to discover, thereby elevating the value of the Pi token as a core factor in ranking and developing the ecosystem.

Essentially, these two new tools are designed to enhance user interaction and transfer control of the application exploration process to the community – in line with the decentralized spirit that Pi Network pursues.

A big event, but little resonance

Just before the Pi2Day event, speculation has surged strongly, as reflected in the skyrocketing open contracts (OI) on derivative platforms. However, this excitement quickly cooled down.

Source: MessariAccording to data from Messari, market interest has dropped almost immediately after the official updates were announced — indicating that the majority of traders have "exited their positions" following the familiar scenario: "buy on rumor, sell on news", instead of trusting in long-term growth potential.

Source: SantimentAlthough the notifications from Pi Network have made a splash in the core user community, data from Santiment shows that the volume of discussion on social media (Social Volume) is unstable and lacks any significant breakthroughs – a sign that interest is still transient.

Source: CoinMarketCapAt the same time, the Altcoin Season Index ( of CoinMarketCap at the time of writing is only at 21, reflecting the trend that capital flows are still leaning towards Bitcoin. In this context, tokens like Pi continue to struggle to attract sustainable demand, despite ambitious innovation efforts.

"Just an illusion"? Users begin to doubt

On the X platform )Twitter(, the wave of skepticism from the user community is spreading as core issues such as unverified balances and the transition to the mainnet remain unresolved.

A user candidly shared:

"We will have to wait at least another two weeks to know if these updates will actually bring value or not."

Another person issued a serious warning:

"If Pi Network does not quickly finalize the transfer of balances and recognize the efforts of early miners, the legitimacy of the project will continue to be eroded... Until that happens, everything is just an illusion."

The core issue that is causing concern in the community is the lack of transparency regarding the actual amount of Pi that each user holds.

"This is the reason why people are skeptical... The Pioneers have the right to know exactly how much Pi they own."

When these fundamental issues still exist, no matter how innovative upgrades Pi Network introduces, the ability to create a breakthrough remains a big question mark.

Does the price of PI benefit from the hype?

As of the time of writing, PI is being traded around the $0.5351 mark – a modest increase, lacking the strong momentum usually seen after important events in the network.

On the hourly chart, the RSI index is currently at 48.20 – fluctuating around the neutral zone of 50, reflecting the market's indecisiveness, as neither buyers nor sellers have been able to gain a clear advantage.

Investor sentiment seems to remain cautious, with many people "lying still and observing", waiting for more confirming signals before making a decision.

![])https://img-cdn.gateio.im/webp-social/moments-d8503280c91fe21a4de67f71ab1b69cd.webp(Source: TradingViewIn addition, the OBV index )Balance Volume( continues to maintain in the negative zone, currently at -202.95 million – a sign that buying pressure is still not strong enough to outweigh selling pressure.

Although the trading volume recorded a slight increase on June 29, it was not enough to create a real boost for the growth momentum of PI.

SN_Nour