What to Know:
- Whale wallet accumulates 350M PI, sparking speculation of a rebound.
- Pi Hackathon 2025 launches with $55K in prizes to boost real-world app development.
- Swapfone exchange listing expands access but liquidity remains thin.
Pi coin is in one of its most important months yet, and a lot of big things are happening that will affect its future. According to CoinMarketCap, Pi coin (PI) is now worth $0.346, which is 1.05% more than it was 24 hours ago. The token is still down 45% over the past 90 days, though, so it’s not clear if it will recover.
Hackathon Boosts Developer Optimism
In August, Pi Network launched the Pi Hackathon 2025 with a prize pool of 160,000 PI (around $55,000). The event invites developers to build apps that run on Pi Network and add real-world usefulness to the network. Submissions are open until October 15.
For years, critics have argued that the Pi token lacks real utility beyond community hype. The hackathon is meant to change that by encouraging developers to create apps for payments, DeFi, and even services like .pi domains, which are also in auction this month.
Swapfone Listing Expands Access
Last week, Swapfone, a U.S.-regulated mobile exchange, listed Pi coin with a PI/USDS trading pair. This was paired with a 200 PI airdrop campaign aimed at boosting liquidity and awareness. For the first time, U.S. users can trade Pi coin in a regulated environment, reducing dependence on offshore platforms like OKX and Bitget. However, trading activity has been disappointing so far.
Pi coin’s daily trading volume dropped 36% to $25.7 million, with turnover at just 0.93% of its market cap. That thin liquidity makes the Pi token vulnerable to sudden price swings, good or bad.
While the listing is a step forward, questions about Swapfone’s credibility remain. The exchange only recently registered its domain, and users are still waiting to see whether its reward system is reliable.
Protocol v23 and Linux Node Rollout
Pi Network also recently released its long-awaited Linux Node version and began rolling out Protocol v23 upgrades. The Linux Node makes it easier for partners and developers to use Pi infrastructure, and the new protocol will put KYC authority right into the blockchain.
This upgrade could be very important. It promises a verification process that is more decentralized and community-driven, which solves one of Pi’s long-standing problems: user migration and compliance. The new system could make it easier for more people to use it because there are already over 12 million users waiting to move.
Critics, on the other hand, say that Pi validators are still controlled by the Pi Core Team, which makes them wonder if the network is really decentralized. The real test will be how well these protocol upgrades go and whether they make the crypto community feel more confident.
Technical Rebound and Whale Buys
Pi Coin is starting to show signs of recovery on the technical side. The MACD indicator has turned positive, and the RSI is at 43, which means that the token is not overbought or oversold. Traders are keeping a close eye on Pi coin price to see if it can get past the important resistance level of $0.359.
Adding to the speculation, a whale wallet has collected about 350 million PI tokens since May, which is about 20% of the total supply. When whales buy, it often gets retail investors interested because they don’t want to miss out on possible price increases.
Conclusion
September is going to be a very important month for Pi Coin. The hackathon, the listing of Swapfone, and the activity of whales all point to renewed hope, on the other hand. On the other hand, thin liquidity, worries about decentralization, and the upcoming token unlock could all cause the price to drop.
