Pi Network's Native Token Surges 5% Amid Blockchain Upgrade
Despite the broader cryptocurrency market's decline, Pi Network's native token, PI, has surged by 5% in the past 24 hours. This uptick comes after an important reminder from the Core Team that the blockchain is migrating to protocol version 26.
The team announced on X that all Pi Validators must complete the upgrade by August 11 to remain connected to the network. Protocol version 26 is a major milestone, designed to improve contract safety, state management, interoperability, and cryptographic capabilities.
PI's price has jumped after the announcement, reaching $0.086, despite the broader market weakness led by BTC's dip to $62,400. However, the asset remains down by over 97% since its all-time high from February last year, with a market cap well below $1 billion.