Key Highlights
- Pi Coin’s market capitalization returned above $1 billion after remaining below the threshold for seven consecutive days.
- PI traded near $0.093, up about 19% over the past week despite falling nearly 7% in the last 24 hours.
- The rebound comes ahead of Pi Network’s Protocol v25 upgrade, scheduled for July 22.
Pi Coin has reclaimed a market capitalization of more than $1 billion following a week-long recovery from its latest all-time low. PI was trading at approximately $0.093 at the time of writing, giving the cryptocurrency a market value of around $1.01 billion.
The recovery places Pi Network back among cryptocurrencies valued above $1 billion, although the milestone remains vulnerable to further price swings. While its circulating supply stood at 10.94 billion tokens, 24-hour trading volume remained near $19.3 million.
PI was down nearly 7% over the past 24 hours after trading between approximately $0.0874 and $0.1004. Trading volume also fell by around 28%, suggesting that market activity weakened as the token pulled back from its weekly high.
Pi Coin spent seven days below $1 billion
Pi Network’s market capitalization remained above $1 billion on July 12, when CoinGecko recorded a valuation of approximately $1.07 billion.
The market cap slipped to $995.6 million on July 13 as PI’s price declined sharply. It then remained below $1 billion through July 19, falling as low as $837.9 million on July 17 under CoinGecko’s daily data.
The token’s market value returned to approximately $1.004 billion on July 20 before climbing further on July 21.
PI’s recovery followed a drop to an all-time low near $0.0707 on July 14. The token has since recovered by more than 30% from that level, although it remains almost 97% below its February 2025 peak of approximately $2.98.
Protocol v25 upgrade approaches
The rebound has unfolded ahead of Pi Network’s scheduled Protocol v25 upgrade on July 22. According to the Pi Core Team, the upgrade will focus on improving network stability and reliability. It will also introduce capabilities intended to support more efficient, privacy-preserving smart contracts.
The timing has helped draw renewed attention to PI, but the price movement cannot be attributed solely to the upgrade. The token has also benefited from a wider recovery across parts of the cryptocurrency market.
For PI to maintain its billion-dollar valuation, the token will need to remain around or above the low-$0.09 range. A renewed decline toward its recent lows could quickly push its market capitalization back below the threshold.
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