According to CoinMeta, Pi Network announced the launch of a decentralized exchange (DEX), along with an upgrade to Protocol 26 to enhance the smart contract layer. Protocol 27 will introduce automated market-making functionality on the test network and is scheduled to go live in September. Despite rapid progress in infrastructure construction, the price of Pi tokens has not yet surpassed $0.09, representing a decline of over 97% from its historical high of $2.99 in 2025. As of August 31, 2026, the market capitalization of Pi was close to $1 billion, but approximately 89% of the maximum supply of 100 billion tokens has not yet been circulated. The daily trading volume on August 31 was $3.7 million, indicating insufficient market demand.