Pi Network Update Looms, But Price Remains Flat

The Pi Network ecosystem has been quiet lately as it awaits a major protocol update scheduled for mid-September. The update, version 27, will add flexible and secure smart-contract authentication to the network, allowing accounts and apps to authorize transactions more efficiently.

Despite the anticipation surrounding the update, the price of PI has barely moved, trading below $0.10 and up approximately 7% over the past two weeks. This is in contrast to the broader crypto market, where Bitcoin (BTC) soared by 22%, and Ethereum (ETH) spiked by 30% during this period.

However, some analysts believe that PI may experience a short-term surge once the protocol update is deployed. In fact, X user Crypto With Gopal argued that the price is currently 'squeezing around the $0.09 zone' and could break out above to reach $0.15.