Pi Network Completes a Major Milestone, Yet PI’s Price Keeps Bleeding: Details
The staff behind the controversial crypto undertaking rolled out a main improve meant to strengthen your complete ecosystem.
Nonetheless, the constructive information did not set off a rebound for PI, whose valuation nosedived to yet one more all-time low.
Upgrade Completed
Pi Network has made vital progress in latest months. In February, the Core Team unveiled protocol model 19.6, adopted by an improve to v19.9. Later on, they launched the extremely anticipated v20.2, which set the muse for sensible contract capabilities.
Last month, the staff introduced a migration to protocols v22 and v23, setting June 2 because the deadline to finish the transition to v24. This growth was disclosed on Pi Network’s official X account earlier immediately (June 5).
“Great job to all Nodes! This was probably the most difficult migrations,” the message reads.
The improve to protocol 24 is primarily centered on enhancing the underlying infrastructure that helps node operations and mainnet exercise. The Core Team revealed that migration to v25 is subsequent in line, with June 18 designated because the completion deadline.
In addition to the protocol replace, Pi Network has lately superior additional within the gaming subject. As CryptoPotato reported, CiDi Games (a Pi Network Ventures portfolio firm) launched 4 new video games for Pioneers. Those embrace Coin Whack, Fruit Stack, Gemnova, and RainbowCubes.
PI Price Outlook
Despite the aforementioned developments, PI’s valuation stays closely suppressed by the bear market and the newest pullback, which swept by means of your complete crypto market.
Earlier this week, it collapsed to a new all-time low of round $0.12, representing a 33% decline for the month and a whopping 96% crash from the historic peak of $3 witnessed firstly of 2025. PI’s market capitalization has fallen to roughly $1.3 billion, making it the 58th-largest cryptocurrency.
Certain components sign that a additional correction could possibly be on the best way. Data present that the variety of PI cash saved on exchanges has soared by over 500,000 prior to now 24 hours, bringing the entire to over 550 million. This means that quite a few buyers have transferred their holdings to centralized platforms, thus growing fast promoting stress.
The upcoming token unlocks are subsequent on the listing, with roughly 160 million PI set to enter circulation over the subsequent 30 days. June 11 stands out because the report day when 16 million cash might be launched. This growth doesn’t assure a steeper downfall, however it should enable some buyers to money out tokens they’ve been holding for a very long time.
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