Pi Coin adds 1.3M users in 30 days but price stays under $0.60

Pi Network has surpassed 120 million downloads worldwide, with 1.3 million new users onboarded in the last 30 days.

Backed by a vision of decentralised finance for everyone, the platform—founded by Stanford PhDs—boasts more than 55 million engaged users.

The recent uptick in adoption comes amid growing expectations for Pi Coin to gain global recognition, especially after Banxa received Know Your Business (KYB) approval to trade the token internationally.

Yet, despite growing participation, Pi Coin’s price remains unresponsive.

The divergence between user metrics and price action is raising concerns among traders and analysts tracking the project’s market performance.

Banxa begins global Pi sales after $30 million purchase

Australian payment processor Banxa recently received regulatory clearance to sell Pi Coin across international markets.

This development followed its earlier acquisition of over $30 million worth of Pi, underlining institutional interest in the project.

According to reports, Banxa’s move is aimed at offering easier access to Pi holders across jurisdictions that traditionally lack local fiat-crypto ramps.

This approval potentially resolves a key bottleneck for the Pi ecosystem—accessibility.

Until now, Pi trading has been largely limited, and users were unable to freely buy or sell Pi through mainstream channels.

Banxa’s participation could unlock liquidity, particularly in Asia and Latin America, where Pi has seen some of its fastest user growth.

Price fails to respond, stuck in tight range

Despite the growing community and exchange activity, Pi Coin has remained range-bound for over 40 days.

It is currently trading slightly above $0.58, with repeated rejections near the $0.60–$0.62 zone.

Market participants say volume is key to breaking out of this consolidation phase, but so far, buying interest remains weak.

Technically, Pi is showing bearish signals. It is trading below its 10, 20, and 50-day moving averages, and the Relative Strength Index (RSI) is hovering around 40—a level generally associated with low momentum.

The MACD, another momentum indicator, shows no signs of a near-term reversal, further dampening bullish sentiment.

This stagnation is notable given Pi’s previous market highs.

The token launched at around $2.00 and surged to $2.90 before undergoing a sharp correction. It has since fallen to as low as $0.40 and continues to face resistance on every rally attempt.

Token unlocks and technical concerns weigh on traders

Another key factor limiting price recovery is the schedule of token unlocks.

Large unlock events can flood the market with new supply, which often pressures prices if not matched by equivalent demand.

Pi Coin has faced scrutiny from some sections of the crypto community who argue that the project is overhyped and lacks utility in its current phase.

Even though Pi briefly reached the top 11 on CoinMarketCap in terms of popularity during its launch phase, its inability to sustain that momentum has led to doubts about its long-term viability as a tradeable asset.

Traders are waiting for more clarity on actual listings and trading support on major exchanges, rather than informal IOU-based listings.

Community bets on long-term vision despite short-term stagnation

For many in the Pi Network community, short-term price action is less important than broader adoption.

The long-term aim of building a user-first, mobile-native cryptocurrency that is mined through social engagement continues to be the core of its value proposition.

But from an investment standpoint, the lack of near-term catalysts and weak market structure suggest caution is still warranted.

The next few weeks could be critical for Pi Coin’s trajectory.

If volume fails to pick up and resistance holds firm, the token may revisit support zones near $0.50.

On the other hand, strong buying near the $0.60 level could trigger a breakout, particularly as more users gain access through Banxa and other partners.

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