The price of Pi Network’s native token, PI, has surged to nearly $0.185, marking its highest level in about two weeks. This gain of over 14% in the past month comes amid a broader market rally and follows the project’s Core Team announcing the successful completion of a major protocol migration. However, data shows a significant volume of tokens is scheduled for unlocking soon, with nearly 21 million PI set to be released on March 7.
The price of Pi Network‘s native token, PI, has rocketed to almost $0.185, reaching its highest point in about two weeks. This performance stands out even as the entire cryptocurrency market charts gains.
Despite upcoming massive token unlocks, PI’s recent gains place it among the top-performing altcoins. This surge could be driven by factors like the most recent technical updates.
According to an announcement, the Core Team indicated the protocol v19.9 migration was successfully completed. This milestone came just weeks after the project updated to v19.6.
The team stated that the next protocol version is v20.2, which they hope to implement before the 2026 Pi Day on March 14. They reminded once again that all node operators who must use desktop computers and laptops instead of mobile devices have to upgrade to the current protocol version.
PI’s monthly gain of over 14% contrasts with declines for other major cryptocurrencies. Assets like BTC, ETH, SOL, and XRP are all down over the same period.
Data from PiScan shows an average of around 6.8 million coins are scheduled to be released daily in the coming weeks. Several days will see more than 11 million tokens unlocked.
March 7 is projected to be a record-setting day with almost 21 million coins scheduled for unlocking. This could intensify selling pressure if investors decide to dispose of their tokens.
