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Pi Network price outlook as it completes a major protocol upgrade

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Pi Network price has formed a descending triangle pattern on the daily chart.

Pi Network has completed a major protocol update that brings it even closer to launching full smart contract capabilities on the network.

Summary

  • Pi Network rolled out mainnet v21, moving closer to full smart contract support and improved network performance.
  • Launch of a testnet RPC server will allow developers to build and test dApps ahead of mainnet deployment.
  • Despite upgrades, Pi Network price remains under pressure, with a bearish breakdown pointing to a potential drop toward $0.131.

In an April 14 X post, the Pi Network team revealed that the Pi mainnet has successfully been upgraded to version 21, which introduces several critical performance enhancements.

This milestone is part of a series of strategic improvements intended to expand the ecosystem’s functionality. The most important one will be the introduction of smart contracts to the network, which will enable developers to build decentralized applications in a more efficient and scalable manner.

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As such, the Pi team urged node operators to update their systems to the latest software version immediately. It also promised to share more details regarding the upcoming version 22 update soon, which is expected to further refine the network infrastructure.

Another major development shared by the development team is the launch of an RPC server on the Pi Testnet. This tool will enable developers to build, test, and deploy smart contracts before they go live on the main network. Besides this, it will also enable smoother integration with third-party wallets and analytical tools.

Once fully implemented, the upgrade will make Pi Network a direct competitor to other popular chains such as Ethereum or Solana, with the aim of boosting Pi token utility over time as new applications continue to be built on the network.

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Pi Network (PI) price initially rose slightly higher to $0.167 on the day before paring off with all of its gains and settling at $0.165 at the time of writing. The token has been in a steady downtrend since late March, during which it fell by approximately 15%.

On the daily chart, Pi Network price has formed a descending triangle, a highly bearish pattern, over the past month. It confirmed a bearish breakout from the pattern as it fell below the lower horizontal trend line at $0.166.

Pi Network price has formed a descending triangle pattern on the daily chart.
Pi Network price has formed a descending triangle pattern on the daily chart — April 14 | Source: crypto.news

Hence the path of least resistance for Pi Network price suggests a move downwards towards the Feb. 11 low of $0.131.

Momentum indicators such as the MACD and RSI strongly support the bearish forecast as they pointed downwards, suggesting that selling pressure remains dominant for now.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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Crypto World

DOJ opens $40 million OneCoin victim claims after $4 billion global crypto fraud

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U.S. DOJ hits Paxful for $4 million in case tied to illegal sex work, money laundering

Victims of the OneCoin $4 billion fraud scheme can now seek compensation through a $40 million fund of seized assets, the U.S. Department of Justice (DOJ) announced on Monday.

Between 2014 and 2019, Ignatova and Karl Sebastian Greenwood, co-founders of OneCoin Ltd. (OneCoin), and others operated an international cryptocurrency investment scheme defrauding up to 3.4 million investors from around the globe, the DOJ said.

The Sofia, Bulgaria-based operation marketed and sold a fraudulent crypto by the same name through a global multi-level-marketing (MLM) network.

Victims worldwide invested over $4 billion worldwide in the fraudulent cryptocurrency which operated through a network of promoters, who solicited investments in return for purported tokens, but notably did not actually involve any cryptocurrencies nor did OneCoin exist on any blockchain.

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The ponzi scheme, which the DOJ called “one of the largest global fraud schemes in history”, collapsed in 2017, after Ignatova and her team were found to have manipulated OneCoin’s perceived value through the automatic generation of new coins.

In June 2024, the DOJ offered a new $5 million reward for the missing Cryptqueen. Greenwood, who allegedly called the investors “idiots”, admitted to federal wire fraud and money laundering charges in 2022.

“OneCoin’s founders sold a lie disguised as cryptocurrency, costing victims more than $4 billion worldwide,” said U.S. Attorney Jay Clayton for the Southern District of New York. He also said the DOJ would continue working to seize criminal proceeds and prioritize getting money back into the hands of victims.

The compensation process for OneCoin comes roughly four weeks after the FTX Recovery Trust announced it would distribute $2.2 billion to creditors in its fourth payout under the exchange’s Chapter 11 plan. Earlier rounds totalled more than $6 billion as part of a process aimed at recovering assets for users of the once-prominent crypto trading platform, which collapsed in November 2022, triggering a steep crypto bear market.

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Fed Chair Nominee Discloses Holdings in Crypto and AI

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Federal Reserve, Government, Donald Trump, Cryptocurrency Investment

Update (April 14 7:51 PM UTC): This article has been updated to with date of nomination hearing.

Kevin Warsh, US President Donald Trump’s pick to lead the Federal Reserve to replace Chair Jerome Powell, has reported millions of dollars in assets ahead of his confirmation hearing, including investments in crypto and AI companies.

In a filing with the US Office of Government Ethics, Warsh reported Excepted Investment Funds (EIFs) in Compound, Dapper Labs, Kinetic, as well as AI companies Delphi, Conversion, Factory, Glue and others ahead of his confirmation hearing in the Senate.

While the prospective Fed chair’s assets amounted to more than $100 million, none of his crypto and AI investments included a value range, Reuters reported on Tuesday.

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Federal Reserve, Government, Donald Trump, Cryptocurrency Investment
Sample of Kevin Warsh’s asset disclosure forms. Source: US Office of Government Ethics

It’s unclear why the value of the crypto and AI investments were not included in the disclosures, but the ethics’ office rules do not require reporting for assets under $1,000. Among the biggest disclosures were more than $50 million in the Juggernaut Fund and more than $10 million in income from consulting fees for Duquesne Family Office, the investment firm of Stanley Druckenmiller.

Trump announced Warsh as his pick to lead the US central bank in January, but only formally advanced his name to the Senate in March following numerous threats to oust Powell. Whoever heads the Fed has significant influence over US financial policy, including federal interest rates.

Related: Deutsche Börse invests $200 million in Kraken parent Payward

Powell’s second four-year term as chair ends on May 15. The Senate Banking Committee announced Tuesday afternoon that it will hold a hearing on Warsh’s nomination to replace the Fed chair on April 21.

Trump still hasn’t announced key nominations for financial agencies

While the Senate Banking Committee may soon consider Warsh’s nomination, Trump has not signaled that he plans to announce additional picks for commissioners at the Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission (CFTC), both of which have empty leadership seats at a crucial time for digital asset regulation.

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The SEC currently has only three out of five commissioners in its leadership — all Republicans — while another Republican, Michael Selig, is the sole commissioner at the CFTC, where four remaining slots are unfilled. Both regulatory agencies are expected to play significant roles in digital asset regulation should the Senate pass a crypto market structure bill that has been stalled in the chamber since July 2025.

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