Pi Network's PI Soars 5% as Blockchain Migrates to v26

The Pi Network's native token, PI, has defied the broader market slump by surging 5% in value. This unexpected move comes after the team announced that the blockchain is migrating to its next major protocol version, v26.

The Core Team emphasized the importance of Pi Validators completing the upgrade by August 11, as stated in the reminder on X. The new protocol version will improve contract safety, state management, interoperability, and cryptographic capabilities.

Despite the PI's daily price jump, it remains down by over 97% since its all-time high from February last year. Its market cap is below $1 billion, ranking it as the 68th-largest asset by that metric.