Top Highlights
- Pi Network’s latest protocol update, version 23, is still pending, with most major nodes upgraded but not all, despite the original deadline passing.
- The upgrade process is highly complex, involving multiple subsystem optimizations, making it one of the most challenging updates so far.
- PI’s price has plummeted below $0.15 again, with over 18% weekly losses, reflecting ongoing market struggles despite some minor recoveries.
- The native token’s market cap remains below $1.6 billion, ranking it 54th among cryptocurrencies, as its recovery efforts continue to falter.
Breaking Pi Network News: New Update Delayed as PI Price Recovery Stalls
Update on Protocol Progress
Pi Network’s new software update has faced delays. The team announced that most main network nodes upgraded to version 23. As of now, some nodes have yet to complete the upgrade. The team described this update as very challenging because it involved many subsystem improvements. They initially planned to finish the upgrade by May 15, but that date passed without full implementation. Recently, the team confirmed that the upgrade is still ongoing but expected to happen soon.
Despite the delay, the team successfully launched version 22 in early May, followed by versions 21, 20.2, and earlier updates. These updates aim to improve the network’s stability and performance. However, the delays have caused some frustration among community members. The progress appears steady, but the timeline remains uncertain.
PI Price Struggles and Market Impact
The native token of Pi Network has faced ongoing trouble. Its value dropped below $0.15 again in recent hours. After trying to recover yesterday, the price briefly increased to $0.155, but this rally did not last long. Now, the token has fallen back below the key support level. Over the past week, PI’s value has decreased by more than 18%. Its market capitalization is under $1.6 billion, ranking it as the 54th-largest cryptocurrency by market cap.
The price decline reflects the market’s disappointment over the delayed update and overall investor sentiment. Although some short-term rebounds occurred, they failed to reverse the downward trend. As a result, traders continue to watch PI’s next moves carefully, with no clear signs of an immediate recovery.
Continue Your Tech Journey
Learn how the Internet of Things (IoT) is transforming everyday life.
Access comprehensive resources on technology by visiting Wikipedia.
Disclaimer
This content is for informational and entertainment purposes only and does not constitute financial or investment advice. Cryptocurrency is highly speculative and carries significant risk, including the potential loss of your entire investment. This information may be outdated or incomplete. Do not make financial decisions based on this information. Consult a licensed financial advisor before investing. This site does not offer, sell, or advise on cryptocurrency, securities or other regulated financial products in compliance with SEC and applicable laws. Please do your own research and seek professional advise.
CryptoV1
