Pi Network Gains 5% over Upgrade Hype
Pi network gained 5.13% to $0.198 over the past 24h, riding fresh altcoin momentum after its protocol upgrade, significantly outpacing a broader crypto market performance.
Traders said the price move is primarily driven by a rotation of capital into altcoins, supported by moderate volume growth. Traders reported that Pi Network is gaining momentum from key technical upgrades, though its price remains volatile.
Pi trading volume increased by less than 1% on the day to $37 million, driven by buy activity amid progress on regulatory clarity and the Federal Reserve decision to maintain the status quo on rates.
The total crypto market cap increased 0.37% over the same period. Pi’s stronger performance shows positive alpha, not just market tracking. The move was accompanied by a 4.72% rise in 24h trading volume to $37.5 million, providing confirmation.
The immediate trend hinges on whether the altcoin rotation continues. The key metric is the Altcoin Season Index holding above the neutral 50 level.
If it does, Pi may challenge the psychological resistance at $0.20. However, with overall market sentiment in “Fear” territory (index 32), a sudden shift back toward Bitcoin dominance could see Pi retreat to test support around its recent trading range near $0.19.
Pi’s gain is part of a broader risk-on move into altcoins, supported by rising volume. The trend remains fragile, tied to fleeting sector rotation.
Pi Network released the first version of its Token Launchpad on the testnet. Accessible via the Pi Browser, it lets developers create and test tokens in a risk-free environment.
The platform emphasises real utility, requiring a working app before a token launch, and integrates with Pi’s DEX for future trading.
This is bullish for Pi because it directly fuels ecosystem growth by lowering the barrier for developers to create utility-driven projects, which could increase network activity and demand for PI tokens over time, according to CoinMarketCap.com.
The Pi Core Team confirmed the successful Mainnet upgrade to Protocol 20, which lays the technical groundwork for smart contract functionality. Node operators were instructed to update their systems in preparation for the next phase, Protocol 21.
PI’s price jumped nearly 10% to above $0.20, driven by optimism around the Protocol 21 upgrade and the recent Token Launchpad release. This rebound followed a sharp correction after its Kraken listing, a classic “buy-the-rumour, sell-the-news” pattern.
The recovery shows sustained trader interest in Pi’s development roadmap, but the volatility highlights its status as a speculative asset where news-driven rallies can be fleeting. BTC Hits $75k as Hedging Activity Creates Forced Demand
