Pi Network Bulls Defend Key Support After Node 0.6.2 Upgrade

TL;DR:

• The Pi Network technical team released version 0.6.2 of its software after completing distributed computing tests.
• Open interest in PI futures contracts dropped to $8.81 million compared to $9.12 million recorded the previous Friday.
• The price trades around the 78.6% Fibonacci retracement level located at $0.0839 after two consecutive downward sessions.

This Monday, the price of Pi Network advanced slightly after holding at the $0.0839 support level, putting an end to two consecutive sessions of declines across major cryptocurrency exchanges.

This stabilization coincides with the core development team’s recent release of version 0.6.2 of the node operator software. The technical update was rolled out after validating the network’s distributed computing capabilities, a step designed to expand node utility beyond basic block validation.

The broader crypto market environment shows caution over the last 24 hours. The Fear and Greed Index stands at 38 points on Monday, reflecting a moderate risk appetite among retail and institutional traders.

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