Pi Network has completed preparations for Protocol 28 following the successful completion of Protocol 27, with a scheduled Mainnet update on October 16. The project announced on September 26 that Protocol 27 has been successfully completed on Mainnet, and Protocol 28 is already operational on Testnet after a successful test update this month. Currently, the PI token is trading at $0.0893, continuing to remain below the key mark of $0.10, which investors are watching closely. Over the past day, the token has lost about 2%, but gained approximately 2.3% over the week. According to CoinGecko, the market capitalization of Pi Network is nearly $1 billion, with around 11.24 billion PI tokens in circulation. The trading volume of the token is approximately $6.4 million over the past 24 hours.
Node operators are asked to install software updates for Protocol 28 by October 13 – three days before the scheduled Mainnet activation on October 16. The Protocol 28 update will change the way delays related to transaction data are handled. The team stated that developers will have the ability to update groups of smart contracts simultaneously, and the security of modifications for applications will also be improved. All Mainnet nodes must transition to version 28 before the update.
PI remains below the $0.10 level despite attempts to recover from September lows. The seven-day range has been approximately from $0.085 to $0.0945, keeping the token within the consolidation that has formed since July. The RSI is at 47.99, just below the neutral mark of 50, remaining outside the overbought and oversold zones.
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