Cryptocurrency Update Week: Pi Network, Arbitrum, and Stellar Among Key Players
The final week of August is packed with significant updates for several cryptocurrencies.
Pi Network, Arbitrum, Monad, Stable and Stellar are all set to make major moves between August 24 and August 27.
Pi Network is changing its app studio pricing structure on August 24. Previously, creators could create or edit applications for just 0.25 Pi, with Pi Network covering much of the underlying AI costs. Now, under the new system, pricing will more closely reflect the actual cost of AI services.
The change may reduce low-quality applications and boost demand for the token within the ecosystem.
Arbitrum is expanding into tokenized stocks on August 24. Recently, Arbitrum One has climbed to #2 in perpetuals, recording $1.48B in volume and $1.834B in open interest.
This development gives users access to blockchain-based versions of traditional equities, designed around 1:1 backing and on-chain settlement.
On August 26, Phantom will end support for Monad. Users will no longer be able to view, send or swap Monad assets through Phantom. Although their assets remain on-chain, users can access them through compatible wallets.
The move may create short-term pressure on MON sentiment due to wallet accessibility playing a significant role in user activity.
Stable is scheduled to roll out its v1.8.0 upgrade on August 26. It will bring higher throughput and improvements to transaction processing, execution and network infrastructure.
The upgrade supports Stable's position in the growing stablecoin and RWA sector by making the network more scalable and reliable.
Finally, Stellar is scheduled to hold a testnet vote for Protocol 28 on August 27. The upgrade focuses on improving Stellar's smart-contract infrastructure and supports its longer-term push into payments, tokenization and other blockchain applications.