PI recovers upon Protocol 26 upgrade
Pi Network's native token PI gains over 6% in 24 hours as bullish sentiment builds around the Protocol 26 upgrade, the last major update before the final Protocol 27.
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Protocol 26 Signals a Network Milestone
Pi Network's (@PiCoreTeam) native token $PI is trading higher, posting gains of over 6% in the past 24 hours as bullish sentiment builds around the project's latest technical upgrade. Pi Network has launched Protocol 26, requiring Mainnet node operators to upgrade before August 11 as the blockchain prepares for its final planned protocol update, with the Pi Core Team announcing the rollout as part of the network's ongoing Mainnet transition.
The Core Team noted that the blockchain has now completed eight successful protocol upgrades, with Protocol 26 serving as the ninth, and only one more major upgrade, Protocol 27, remains before the current protocol transition is complete. That makes Protocol 26 a meaningful marker on the network's roadmap, and markets appear to be pricing in the progress.
According to community discussions, the V26 upgrade introduces multiple improvements including stronger security systems, enhanced scalability, better network performance, and expanded support for developers building within the ecosystem.
Price Bounces But Context Matters
The live price of $PI sits at $0.08182, with the token up 6.12% in 24 hours and a market cap of approximately $897 million. That brings it close to, but still short of, the $1 billion market cap threshold once again.
The short-term bounce comes against a challenging backdrop. As recently as July 28, PI was just 6% above its record low, pressured by massive daily token unlocks and weak demand, with community sentiment described as deeply negative despite ongoing protocol upgrades. Pi Network's current circulating supply stands at 10.94 billion PI out of a maximum supply of 100 billion, with the yearly supply inflation rate running at 61.21%.
For now, the Protocol 26 announcement has provided a catalyst for a short-term recovery. Whether that momentum holds will likely depend on how quickly the network can translate technical progress into broader utility and demand ahead of the final Protocol 27 upgrade.
Sources:
Crypto Times: Pi Network Starts Protocol 26 Rollout Ahead of August 11 Deadline
CoinMarketCap: Latest Pi Network News and Market Insights
OKX: Pi Network Live Price
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UC HopeUC holds a bachelor’s degree in Physics and has been a crypto researcher since 2020. UC was a professional writer before entering the cryptocurrency industry, but was drawn to blockchain technology by its high potential. UC has written for the likes of Cryptopolitan, as well as BSCN. He has a wide area of expertise, covering centralized and decentralized finance, as well as altcoins.