Pi Network News and PI Price Update: May 24
It has been an eventful interval for Pi Network and its broader ecosystem, even when one of many key protocol updates that needed to be accomplished practically ten days in the past continues to be not absolutely applied.
The native token crashed currently, however managed to halt the losses and stays at round $0.15.
Delayed New Update
Protocol model 22 got here on May 1, which continued an extended sequence of upgrades that started in February with 19.6. At the time, the Core Team behind the undertaking highlighted the subsequent scheduled replace, model 23, which was presupposed to be deployed by May 15. Once that date handed, the group began to surprise concerning the progress on the matter, with some claiming that after it goes dwell, it will likely be a ‘game-changer.’
The first official interplay from the staff relating to v23 got here on May 20. They noted that ‘most main Nodes’ had efficiently upgraded, however the replace stays within the works because it turned out to be “probably the most difficult” up to now as a result of it “concerned a number of subsystem upgrades and optimizations that required inside information reprocessing.”
In the meantime, although, the Core Team outlined a distinct ecosystem replace that promised to ‘change the equation for creators.’ They stated vibe coders and creators can make the most of Pi Network’s 60 million person base by ‘simply bringing their exterior AI-created apps to Pi’s actual distribution community and utility ecosystem via Pi App Studio.’
With this new improvement that allowed even non-technical merchandise to be constructed utilizing platforms akin to Codex and Replit, the staff has doubled down on its narrative to shut the hole between creating apps and turning them into really usable and useful instruments.
Security Warning and Problem Solving
In addition, Pi Network’s official X account warned a couple of rising variety of scammers impersonating the undertaking’s co-founders, Nicolas Kokkalis and Dr. (*24*) Fan. The publish referred Pioneers to the verified accounts of the 2 co-founders, neither of which may be very energetic on X, although.
Separately, the Core Team used Dr. Fan’s speech on the 2026 Consensus convention in Miami to deliver extra consideration to one of many main points throughout the crypto business. They consider most tokens launched by completely different initiatives lack utility and substance as they’re largely used to boost capital with out really offering product innovation.
Instead, Pi Network claims it has gone in a distinct course by treating its tokens as “instruments that may assist person acquisition, product engagement, and long-term utility.” Its newest product that enhanced this narrative is the Pi Launchpad, which it described as a device for “ecosystem tokens and launch mechanisms that intention to assist merchandise purchase actual customers who have interaction, present suggestions, and use these tokens with precise product experiences.”
PI Price Update
Amid the continuing developments, and maybe pushed by the delay within the protocol replace, the undertaking’s native token slumped exhausting previously couple of weeks. It dumped from an area high of $0.175 (on May 13) to beneath $0.16 and then to a multi-month low of $0.145.
It dropped out of the highest 50 alts by market cap and stays there even after it has recovered some floor and at present sits at $0.15. Even the bullish information from OKX about PI becoming available within the US marketplace for the primary time ever couldn’t maintain a extra spectacular rebound, and the token stays down 13% over the previous two weeks.
Some widespread members of Crypto X have weighed in on the asset’s current efficiency, akin to Kien Trinh. They defined that PI has break up 20 instances (by way of value strikes), which may very well be the “finish of a phenomenal love story.” Trinh added that Pi Network might need designed the proper liquidity entice.
The publish Pi Network News and PI Price Update: May 24 appeared first on CryptoPotato.
