Pi Network launches V23 and the market remains unfazed
11:25 ▪ 5 min read
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Altcoins
Despite a major update to version 23 of its protocol, Pi Network struggles to ignite market enthusiasm. In a sector where every innovation is scrutinized to reignite bullish momentum, the announcement of technical advancements inspired by the Stellar Protocol 23 and the integration of new functionalities have not been sufficient to boost the price of its token. This dissonance between technological progress and market inertia raises doubts about the project's ability to convert its developments into real value.
In summary
Pi Network rolls out its V23 update, a key step based on the Stellar Protocol 23.
The transition occurs in several stages, moving from Testnet1 to Testnet2 before a complete switch to Mainnet.
The price of the PI token stagnates at $0.34, below its 20-day exponential moving average situated at $0.36.
The risk of a drop to $0.32 is real, unless a sustained breakthrough above the resistance at $0.36 could reactivate the price towards $0.40.
A significant but discreet technological evolution
While the crypto was close to a new collapse followed by a massive outflow of investors, Pi Network announced on August 27 the gradual launch of its update to version 23 of its protocol, a strategic step built on the Stellar Protocol 23.
This new version introduces new layers of functionality and control for the blockchain. The goal is to strengthen the network's structure while preparing the ecosystem for its future opening to the general public.
