Pi Network's (PI) 24-hour trading volume increased 30% to $17 million as the token traded near $0.21, marking a modest recovery from depressed levels.
The volume uptick comes as Pi struggles below key psychological levels nearly a year after its controversial mainnet launch.
Pi Coin remains down more than 90% from its February 2025 peak despite the recent volume increase.
What Happened
Pi Network launched its Open Mainnet February 20, 2025, enabling external trading for the first time after years of closed-network operations.
The token initially surged above $2 following exchange listings but quickly collapsed.
Trading volume has remained below $20 million daily, reflecting limited market depth.
The 30% volume increase represents movement from extremely thin liquidity levels rather than sustained institutional or retail interest.
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Why It Matters
Pi Network's persistent low trading volume exposes fundamental liquidity challenges that have plagued the project since mainnet launch.
The token's 100 billion maximum supply and limited exchange listings have contributed to price instability.
Major exchanges including Binance and Coinbase have not listed Pi Coin, citing regulatory concerns.
The current $0.20 support level represents critical psychological territory that has attracted accumulation on multiple occasions since October.
Loss of this level could trigger accelerated selling toward lower support zones established during the token's post-launch decline.
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