Pi Network Upgrade Fails to Lift Token From Near-Record Lows

Pi Network has successfully upgraded to protocol version 22, marking a critical step in its gradual transition from version 19 to 23. The upgrade enhances blockchain APIs, Core functionalities, and overall network stability, laying groundwork for a scalable mainnet launch. Despite these developments, Pi coin remains dangerously close to its all-time low, trading at $0.3558—a mere 2.9% weekly gain—with daily volume shrinking to $32 million.

The team introduced new features to drive adoption, but planned service interruptions during the upgrade process may test user patience. Further upgrades to Testnet1 (version 23) and subsequent migrations of Testnet2 and Mainnet are underway, with potential outages to be announced. Market sentiment remains skeptical as Pi struggles to capitalize on technical improvements.