Pi Network’s PI Token Dumps 13% Weekly as Team Announces Crucial Deadline Ahead
The Core Team behind the controversial blockchain venture has outlined the deadline for the completion of the following main improve, which ought to happen within the subsequent week or so.
However, the protocol’s native token continues to bleed, dropping over 3% previously day and dumping by double-digits weekly. It has erased basically all good points charted through the post-Kraken-announcement rally.
Next Update Deadline
The massive protocol updates for Pi Network started in late February when the crew announced the migration to model 19.6. The subsequent one, v19.9, followed go well with in early March. The most anticipated improve was model 20.2, which drew important consideration as it laid the groundworks for smart-contract capabilities, which might permit Pi Network to turn into a completely useful blockchain ecosystem.
After it was efficiently upgraded by Pi Day (March 14), the crew set its sights on the following massive transfer – transferring to protocol 21. However, it didn’t initially present a selected timeframe for completion, which led some neighborhood members to query the precise implementation.
Nevertheless, the Core Team outlined in a put up on X hours in the past that the Pi Network Mainnet has begun the method of upgrading to protocol 21, and the deadline is April 6. As with all earlier such updates, they urged all Mainnet nodes to “full this step earlier than the deadline to stay related to the community.”
The Pi Mainnet is upgrading to Protocol 21 – Deadline: Apr 6. All Mainnet nodes are required to finish this step earlier than the deadline to stay related to the community. Details right here: https://t.co/9VehO7hhj1
— Pi Network (@PiCoreTeam) March 27, 2026
PI Still Tanks
Perhaps as a result of aforementioned updates or, extra probably, due to Kraken’s decision to list the underlying asset for buying and selling, the PI token went on a wild run in mid-March. At one level, simply after Kraken’s announcement, it skyrocketed by 30% in 24 hours. Overall, it jumped by practically 100% in days and marked a multi-month peak of practically $0.30.
However, as soon as the precise itemizing turned official, it turned out to be one other basic sell-the-news occasion, and PI crashed to beneath $0.20 immediately. It has remained principally under that degree ever since. It’s now all the way down to beneath $0.175 after one other 3% drop previously day, as it has misplaced 13% of its worth weekly.
Data from PiScan exhibits that the common every day unlock of PI tokens can be comparatively high for the following month, near 7 million. There can be a number of days with over 10 million cash to be launched, which is one thing that would intensify the speedy promoting stress and result in additional declines.
The put up Pi Network’s PI Token Dumps 13% Weekly as Team Announces Crucial Deadline Ahead appeared first on CryptoPotato.
