Crypto World
Pi Network Activates Protocol 24 as PI Price Hovers Near All-Time Lows
Pi Network just hit a significant technical milestone, but it has not helped the price of $PI at all.
Pi Network officially began rolling out its Protocol 24 upgrade on June 3, designed to enhance core network performance, improve node synchronization, and strengthen overall system stability.
What Protocol 24 Actually Does For Pi Network
The Pi Network upgrade has been one of Pi’s most technically complex updates so far, involving multiple subsystem improvements, internal data reprocessing, and major infrastructure upgrades.
It also includes a move from Ubuntu 20 to 24 and PostgreSQL 12 to 16. All mainnet nodes were required to complete the upgrade by June 2 or risk being disconnected from the network.
Protocol 24 was first completed and synchronized on Testnet 2 before the mainnet rollout, with the next expected step being the full V24 deployment across the live network.
The upgrade is part of a rapid sequencing through June. Protocol v25.1 follows on June 8 and v26.0 on June 22, with the releases targeting node performance, scalability, and smart contract maturation.
For Pi Network, a protocol that has been building toward smart contract functionality for years, three protocol upgrades in a single month represent a significant acceleration.
The Price Is Not Following the Progress
As of June 4, PI trades at $0.127, with a market cap of $1.36 billion. PI has slumped 27% this year, with the token sitting at its lowest level since February 14. It has fallen below all moving averages, a sign that bears remain in control.
The supply pressure is not helping. The Pi network is set to unlock over 174 million tokens worth over $26 million in June alone, adding to ongoing sell pressure in an already thin market.
The Protocol 24 upgrade opens a door for utility-driven demand later in 2026, but in the near term, it unlocks and thins liquidity, favouring continued price pressure.
To read the latest cryptocurrency news from BeInCrypto, click here.
The post Pi Network Activates Protocol 24 as PI Price Hovers Near All-Time Lows appeared first on BeInCrypto.
You must be logged in to post a comment Login