Pi Network's Cryptocurrency, PI, Faces Challenges on its Road to Recovery

Pi Network is a mobile-first blockchain project founded in 2019 by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan from Stanford's Human-Computer Interaction group.

The network allows users to mine PI by tapping a button daily in a smartphone app, with over 40 million registered users and 18.1 million who completed KYC as of May 2026.

PI reached an all-time high of $3.00 in February 2025 but collapsed 94% to $0.049 due to the release of new supply from zero-cost miners.