PI Token Makes Comeback After Nearly 50% Price Drop
The Pi Network's token, PI, made a significant comeback after plummeting nearly 50% in three days. According to Yellow.com, PI surged more than 7% to trade above $0.19 on March 20. This rebound comes after the token had corrected from its five-month high near $0.30 to $0.175 earlier this week.
The price whiplash was triggered by a sell-the-news event after Kraken listed the token on March 13. However, attention is now turning to the project's upcoming v21 protocol upgrade. The Pi Network Core Team has been rolling out protocol upgrades at a steady clip, with Version 20.2 completed before March 14. This update laid the groundwork for smart contract support, which will be rolled out gradually.
The next upgrade, v21, has been announced but details remain thin. In a recent post on X, the team urged node operators to keep their systems current: 'Node operators, please ensure your systems are up to date and stay tuned for instructions regarding the upcoming v21 upgrade.'