PI Surges 5% Despite Market Slump After Important Pi Network Reminder

The cryptocurrency market is back in the red after bitcoin’s rejection on Friday and a subsequent drop to a multi-week low, but, as usual, there are some exceptions.

Pi Network’s native token is among those, which might sound surprising given its recent calamity. Nevertheless, PI is up by 5% daily after an important reminder was issued by the team.

The Reminder

The Core Team announced on X that the blockchain has already begun the process of migrating to the next major protocol version, 26. As with previous similar statements, the post highlighted the importance of Pi Validators having to complete the upgrade by the deadline of August 11 to remain connected to the network.

Protocol version 26 will be among the biggest updates implemented by the team, and perhaps the most significant one since v20.2, which laid out the fundamentals for smart contract building. It’s designed to improve contract safety, state management, interoperability, and cryptographic capabilities.

Moreover, it comes before the final planned upgrade, protocol version 27, which is likely to be introduced in late August or September.

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