Pi Network Price Stalls Near All-Time Low Amid Thin Demand and Large Token Supply

Pi Network has stalled near its all-time low of $0.1330, down from around $3 earlier this year.

The network's peak market capitalization dropped from nearly $20 billion to the current $1.3 billion, making it a fallen angel in the crypto space.

Pi Network has been going through significant upgrades, including migrating from v19 of the Stellar Consensus to version 25, with the final stage of the upgrade soon to be launched.

The upgrades have had major implications, allowing for the launch of smart contracts on its network and enabling users to build decentralized applications.

Despite these developments, Pi Network's price has stalled due to factors such as thin demand and a large token supply unlock in the coming 12 months.