Signs of a Pi Network explosion! V23 and DEX ignite a liquidity frenzy.

Pi Network is preparing for the V23 protocol upgrade and the launch of a Decentralized Exchange (DEX), boosting the price of Pi coin by over 5.7%. Crypto analyst Mahidhar Crypto suggests acquiring tokens as much as possible before the Pi V23 protocol and Pi DEX upgrades go live, believing that the upgrades and launch will bring significant liquidity to the Pi Network ecosystem.

Pi Network pumps 5.7% against the market, outperforming the index

(Source: X)

After-hours data shows that the trading price of Pi is $0.26383, having increased by 5.7% in the last 24 hours. Bitcoin, Ethereum, and other major assets have all experienced declines, indicating an overall bearish sentiment in the market. The trading price of Bitcoin is close to $112,807, down 1.59%. The trading price of Ethereum is $4,012, down 2.05%. Both Solana and BNB have dropped over 2%.

This counter-market performance has attracted market attention. Against the backdrop of an overall adjustment in the cryptocurrency market, Pi Network has been able to independently rise, demonstrating that its unique catalysts are at work. These catalysts are the upcoming V23 protocol upgrade and the launch of the DEX.

The price of Pi fluctuates between $0.18 and $0.26 in October 2025, with a recent increase of 5.7% reflecting the market's growing confidence in the development of the Pi Network ecosystem. Currently, the trading volume of Pi is 2.18 million USDT, and although the scale is small, it shows a growth trend, indicating that retail users are increasingly interested in it.

From a technical perspective, Pi has broken through the resistance level of 0.24 USD and has stabilized around 0.26 USD. If it can maintain this price level, the next target may be 0.30 USD. The trading volume has increased during the breakout, indicating that buying pressure is strengthening.

V23 Protocol Upgrade: Pi Network Moves Towards Full Decentralization

The V23 version upgrade aims to enhance network stability and improve node synchronization. This upgrade will also improve developer assistive features and strengthen the security of on-chain KYC and smart contracts. This update will take place after the test network goes live in August 2025, at which point Pi Network will be closer to opening the mainnet.

The core significance of the V23 upgrade lies in promoting the transition of the Pi Network from a closed testnet to a fully decentralized open mainnet. This is a key milestone in the development roadmap of the Pi Network. Since its establishment in 2019 by Stanford University graduates Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, the Pi Network has been committed to enabling users to mine on mobile devices, and this innovative model has attracted a large number of users.

V23 protocol upgrade core improvements:

Improved Network Stability: Optimized consensus mechanism to reduce network latency and transaction failure rate

Node Synchronization Performance Enhancement: Improved data synchronization algorithms between nodes to increase network response speed.

Developer Tools Improvement: Provide a more complete API and SDK to lower development barriers.

On-chain KYC Enhancement: Integrating a more stringent identity verification system to meet regulatory requirements.

Smart Contract Security Reinforcement: Fix known vulnerabilities and introduce new security audit mechanisms.

These technological upgrades not only enhance network performance, but more importantly, they lay a solid foundation for the subsequent launch of DEX and the development of the DeFi ecosystem. Without a stable and efficient underlying protocol, any upper-layer applications cannot truly realize their value. The V23 upgrade is a key turning point for Pi Network as it moves from the proof-of-concept phase to the practical application phase.

The next step towards complete decentralization is the upcoming V23 version upgrade. Once the upgrade is completed, Pi Network will officially become a fully decentralized blockchain network, no longer relying on the centralized control of the core team. This will greatly enhance the community's confidence in the long-term development of Pi Network.

Pi DEX Launch: Unlocking the Key to Liquidity

The launch of Pi DEX will allow users to conduct peer-to-peer token transactions within the Pi Network ecosystem. It will rely on automated market maker (AMM) pools, where users can contribute funds to liquidity pools and earn trading fees. Other networks have already seen successful launches, such as Uniswap on Ethereum and PancakeSwap on the BNB chain, which have brought in substantial liquidity injections. Pi DEX is also expected to facilitate the trading of Pi tokens and enhance their price stability.

One of the biggest challenges currently facing Pi is insufficient liquidity. Despite having a large user base, Pi's trading volume is relatively small and its price volatility is high due to a lack of effective trading infrastructure. The launch of the DEX will fundamentally change this situation.

The AMM mechanism allows users to become liquidity providers (LPs) and earn trading fees by injecting funds into the liquidity pool. This incentive mechanism has proven its effectiveness on platforms such as Uniswap and PancakeSwap. As more users become LPs, the depth of the liquidity pool increases, price slippage decreases, and the trading experience improves, attracting more traders to participate and creating a positive feedback loop.

Some pioneers who have been the first to try staking and liquidity mining have shown a strong interest in the functionality of the testnet DEX. The community expects that the launch of the DEX will coincide with the mainnet's update completion before the end of 2025. This synchronization of timelines is not a coincidence, but rather a part of a meticulously planned development roadmap.

Pi DEX may also become the infrastructure for other DeFi applications within the Pi Network ecosystem. Lending protocols, derivatives trading, yield farming, and other DeFi functions require a reliable decentralized exchange as support. Therefore, the significance of Pi DEX goes far beyond providing a trading venue; it is the cornerstone of the entire DeFi ecosystem.

The power of 14.8 million users and an active community

Pi Network is expected to reach approximately 14.8 million mainnet users by the end of 2025. This is an impressive number that shows Pi Network has achieved great success in user acquisition. In contrast, many blockchain projects struggle to break the million-user mark even after operating for several years.

The Pi community is very active. Developers are still utilizing the Pi App Studio to develop more applications and integrate DeFi tools. The Pi App Studio is a one-stop development platform provided by Pi Network for developers, lowering the threshold for building applications in the Pi ecosystem. Currently, there are hundreds of applications in development, covering multiple fields such as social, gaming, e-commerce, and finance.

This vibrant developer community is one of the most valuable assets of Pi Network. The value of a blockchain network is not only determined by its technical performance but also by the richness of its ecosystem. Ethereum has been able to maintain its leading position for a long time largely due to its large developer community and rich application ecosystem. Pi Network is replicating this successful model.

However, the number of users and their activity level are not completely equivalent. Although Pi Network has 14.8 million registered users, the proportion of users who are truly active in mining, trading, and using the application remains to be observed. This is also why the V23 upgrade and DEX launch are so important—they will provide users with more practical scenarios for using Pi, thereby enhancing user activity and retention.

Investment Opportunities and Risk Warnings

On October 29, 2025, Mahidhar Crypto suggested in a tweet that users acquire tokens as much as possible before the launch of the Pi V23 protocol and Pi DEX upgrade. The post stated that the upgrade and launch will bring significant liquidity to the Pi Network ecosystem. The author also issued a disclaimer in the form of “Do Your Own Research (DYOR)” and “Not Financial Advice (NFA)”, reminding readers to seize the opportunity before the token price pumps.

This appeal reflects the market's optimistic expectation of short-term catalysts for Pi Network. However, investors must remain rational and cautious. Although the liquidity is lower compared to some mainstream cryptocurrencies, Pi is still developing. Analysts warn that Pi can only succeed after practical application. Analysts suggest that investors should treat accumulation recommendations with caution.

Any investment carries risks, especially in the field of cryptocurrency. Although Pi Network has a large user base and a clear development roadmap, its true value still needs to be validated through practical applications. The V23 upgrade and the launch of the DEX are important milestones, but they do not guarantee that prices will rise. Investors should make decisions based on independent research and their own risk tolerance.