While discussions around Pi Network persist, ecosystem data indicates renewed momentum. According to Pi News, a significant channel on platform X focused on the project, the number of live applications has surpassed 210, and projects preparing for the mainnet have exceeded 21,000. The developer tempo, which quickened with the hackathon at the end of August, became more visible as the October 15 submission deadline approaches. In a mid-term evaluation released by the team in September, the most used new applications were highlighted.
How Hackathons Fostered Ecosystem Growth
Before its official launch earlier this year, the network underwent over five years of preparation. The accumulated community interest initially garnered intense attention post-launch. While progress seemed to slow in the following months, the hackathon directed developers towards creating usable products on the mainnet, initiating a new cycle. Pi News indicated that the application stock provides a foundation to diversify user experiences across the network.
The organization set the reward pool at 160,000 PI coins, with 75,000 PI for the first place, 45,000 PI for the second, and 15,000 PI for the third. Additionally, up to five teams would receive an “Honorable Mention” with 5,000 PI each. The timeline is defined, starting at the end of August and ending on October 15, 2025. The mid-point evaluation shared in mid-September unveiled the directions participants were steering towards various use cases.
Pressure on the Price Front
While usage metrics recover, the price of PI coins continues to show weakness. During a broad sell-off on Friday night, the altcoin fell to $0.1721 and was trading just above the $0.20 threshold at the time of writing. Since peaking at $2.99 at the end of February, its value has decreased by over 94%. Market sentiment remains fragile due to fluctuations in volume and liquidity conditions.
Although AI-based projections do not present an optimistic picture in the short term, the easing of key unlockings in the coming weeks could reduce selling pressure in the short period. The number of developers, the pool of live applications, and the hackathon’s incentive structure tell a different story on the core usage side. Products emerging in the final stretch will be a critical indicator for network health, independent of price behavior, as they impact mainnet traffic.
