Pi Token Surges 5% on Protocol Version 26 Upgrade Reminder
The Pi Network's native token has defied the market slump, surging 5% in value over the past 24 hours. This unexpected move comes despite the broader cryptocurrency market being in the red due to Bitcoin's rejection on Friday and subsequent drop to a multi-week low.
The reason behind PI's resilience lies in an important reminder issued by the Core Team regarding the upcoming protocol version 26. The team announced that the blockchain has begun migrating to this major update, which will improve contract safety, state management, interoperability, and cryptographic capabilities.
As part of the upgrade process, Pi Validators must complete the transition by August 11 to remain connected to the network. The deadline was set earlier this week, with protocol version 25 successfully deployed in the background.