Pi Network Completes Protocol v27 Launch Preparations Amid Cryptocurrency Market Boom

The Pi Network has completed its final step towards launching protocol v27, which will bring more flexible and secure smart-contract authentication. The team initiated the upgrade on Testnet 2 environment, with a maximum of 250 transactions per block without any recorded failures, demonstrating its ability to handle higher traffic.

This development follows several previous protocol updates, including versions 19.6, 20.2, 25, and 26, which laid the foundation for smart contract capabilities. The new protocol is expected to be transitioned to Mainnet in the coming days.

Despite this progress, PI remains deep in the red on a weekly basis, trading at around $0.09 with an 8% drop from last week's prices. This is concerning given the broader cryptocurrency market's recent surge, with Bitcoin (BTC) reaching nearly $87,000 and Ethereum (ETH) nearing $2,800.

However, some believe that PI may soon regain its bullish momentum as it has been holding onto the $0.07-$0.08 support zone, suggesting buyers are defending the lows. A breakout above the $0.10-$0.11 resistance could trigger a stronger upside move towards the projected target.