The native token of Pi Network reached over $0.23 before retracing, buoyed by recent protocol upgrades and anticipation for Pi Day on March 14. The completion of the v20.2 protocol upgrade is expected by March 12. Despite a broader market downturn, PI has gained over 6% in 24 hours and 56% monthly, though upcoming token unlocks present a potential supply pressure.
The PI token briefly surpassed $0.23 today before pulling back slightly. Recent and upcoming updates from the team continue to benefit Pi Network’s underlying asset, making it one of the few altcoins trading positively.
The community anticipates the completion of the protocol v20.2 upgrade by March 12, as well as Pi Day on March 14. They explained at the time that the v20.2 update was next in line, with initial deadline expectations set for March 14, which was later moved to March 12.
Protocol migrations to v19.6 and v19.9 were completed on February 21 and March 4, respectively. Each was followed by significant price gains for PI, and hype surrounding the next upgrade appears to be sustaining momentum.
Anticipation for Pi Day, celebrated for its resemblance to the mathematical constant π, may also be boosting the token. The community expects major announcements, potentially including a listing on a top-tier exchange such as Binance.
PI has defied a market correction, gaining over 6% in the past day and 56% over the past month. It has risen 73% from its all-time low of $0.1312 recorded on February 11.
Factors for future price moves include a token unlock schedule. Over 13.5 million coins will be unlocked over three days starting today, with 17 million more unlocked on March 17. The token has a history of performing well ahead of announcements before declining in a sell-the-news event.
