PI Token Faces Persistent Downtrend Despite Ecosystem Developments and Stellar Protocol 23 Hype

Pi Network's token continues its decline, trading NEAR historic lows at $0.3410 despite recent ecosystem developments. The project's $100 million venture fund and AI Studio launch have failed to reverse the trend, with PI down over 88% from its February peak.

Market focus shifts to September's stellar Protocol 23 upgrade, which promises faster transactions and smart contract capabilities via Soroban. Although Pi Network utilizes Stellar's infrastructure, analysts remain doubtful about immediate price impact due to PI's ongoing supply-demand imbalance.

The token's disconnect from fundamental progress indicates deeper market skepticism. With daily emissions exceeding demand, even blockchain enhancements may not be enough to reverse the bearish trend without significant adoption catalysts.