- The Pi Network price is currently in the negative zone, with the token down by 94% from its ATH.
- The platform is gearing up for a major protocol upgrade.
- The network has hit 18 million verified users, with 526 completing KYC checks.
Pi Network has been making big moves lately, hitting 18 million verified users and completing over 526 million KYC checks. Today’s protocol upgrade is another major event. But these developments failed to push the Pi Network price upward.
Despite these milestones, the Pi Coin price is struggling to maintain momentum. The token is currently showing bearish signals, down by about 94% from its all-time high. While the network is advancing with upgrades and planning future releases, the market sentiment remains cautious.
Pi Network Price Struggles Below $0.2
The Pi coin price is currently struggling to move above the critical $0.2 level. Currently, staying around $0.17, the token is down by 0.9% in a day. While the token has dipped by a marginal 2% over the past week, it has seen a more notable 24% over the past month.
Amid this negative trend, the traders’ sentiment is largely positive. This is understood from the 12.5% surge in the 24-hour volume, currently at $13.77 million. This suggests that the community is increasingly dumping its tokens, feeling pessimistic about its future.
It is also concerning that the Pi Network price remains significantly low from its previous highs. The token has been experiencing a clear bearish trend over the past few months. While the crypto saw short-term rebounds, the overall sentiment remains cautious.
The current slump is even more concerning as the broader crypto market has shown positive signals. While the global industry has surged by 3.59% to $2.39 trillion, the Pi Coin is still caught within its consolidation period.
Pi Network Sets Hard Deadline for Protocol Upgrade
The Pi Network is gearing up for a major protocol upgrade. The platform has set a hard deadline on April 6, 2026, to roll out its Protocol V21.2 upgrade. But this is not a simple upgrade. This is a required hard fork whose goal is to enhance security and ensure that all parts of the network are synchronized to operate on the latest software version.
The key difference about this upgrade is that the node operators do not get any say in whether to upgrade or not. If any node operator does not perform this action, then the system will disconnect them from the mainnet and remove their node from the network. Only those who upgrade and synchronize will continue operating. This will help Pi Network maintain its integrity and avoid any division.
This will also serve as the foundation for the platform’s future plans. Pi Network is preparing for future features like decentralized exchanges (DEX), on-chain transactions, and broader DeFi tools.
There will be upcoming updates later in April and May. These updates are expected to improve performance further. The network will also eventually introduce smart contracts. This signals a move toward real-world utility and Web3 adoptions.
Unveiling Major KYC Milestones
In addition to the upgrade, the Pi Network has also achieved impressive performance milestones. The platform reportedly crossed an impressive 526 million KYC checks. This shows steady growth in its user base. Over 18 million users have now completed the process, while more than 1 million validators are actively helping to review and confirm user identities.
Despite these developments and acquisitions, the Pi Network price remains under pressure. As the token failed to mirror the broader market’s positive trend today, experts remain less optimistic about its imminent rebound.
GoogleNews