Interest in Pi Network Drops to Yearly Low Despite Pi2Day Event

Although Pi2Day, the Pi Network’s largest annual community event, is approaching, interest in the project is steadily declining. Global engagement, measured through web searches and market activity, has dropped to its lowest point in 2025, just weeks before the June 28 celebration.

This is likely not the trajectory the Pi Core Team had hoped for. Despite whispers of major announcements and ambitious plans, the broader public appears to be tuning out.

Public Interest Fades Ahead of Major Event

Pi2Day, an event anticipated by the Pi Network community, is traditionally marked by announcements that aim to energize users and highlight progress. The project has promised updates, including the much-discussed “Mass Migration,” expected to advance the network’s development.

However, data from Google Trends reveals that global search interest for “Pi Network” has sunk to a score of 5, the lowest recorded in 2025 and below levels seen even before the launch of Pi’s enclosed mainnet. This decline signals waning curiosity among the broader public and suggests challenges in attracting new participants to the ecosystem.

Trading activity mirrors this downward trend. On unofficial markets, the daily trading volume of IOU tokens representing Pi Coin has collapsed by nearly 97% over the past month, dropping from over $2 billion in mid-May to just $56 million as of early June. Such a steep reduction in liquidity underscores the project’s struggle to maintain engagement beyond its core user base.

Speculation Grows Without Official Confirmation

Despite a decrease in broader interest, speculation surrounding Pi2Day remains strong within the community. Social media is filled with rumors, including optimistic claims. For instance, posts like CryptoLeakVN’s suggestion of a Binance listing and Pi Queen’s idea of Tesla integration have generated significant excitement.

However, these claims have not been confirmed by either Binance or the Pi Core Team. The lack of official announcements and sufficient upgrades tempers enthusiasm and underscores the gap between community hopes and concrete developments.

Thus, the technical reality contrasts with the hype-driven narratives, reminding users that the network’s foundational challenges persist despite public optimism.

Challenges to Sustained Growth

Significant technical challenges remain for Pi Network. Developer Dimas Nawawi has publicly emphasized that the network’s protocol needs critical upgrades before it can fully support features like smart contracts. Although more than 200,000 nodes are prepared, only a small portion are currently active on the mainnet.

Nawawi notes that the protocol must be updated from version 19.6.1 to at least version 20 to enable smart contract deployment, an important milestone that has yet to be achieved. Until these foundational upgrades are implemented, the goal of a decentralized and fully functional mainnet remains uncertain.

Additionally, community-driven campaigns, such as the push for “Urgent GCV” (Global Conversion Value), have been met with caution. Experts warn that such initiatives will struggle to succeed without a stable underlying infrastructure, emphasizing the need for patient, methodical development rather than rushed timelines.

What to Expect from Pi2Day?

Pi2Day will likely bring announcements of some kind. However, the current environment sets a high bar for meaningful progress. For Pi Network to regain momentum, the core team must deliver clear, verifiable advancements that address ongoing concerns. If that will not happen, the June 28 event risks becoming another disappointment rather than a turning point.