Pi Network recently upgraded its blockchain protocol to version 20 on Testnet, resulting in a 3% increase in Pi Coin price. This upgrade has also attracted institutional interest.
Protocol Upgrade and Its Impact
The Pi Network's blockchain protocol was upgraded to version 20 on Testnet, marking an important milestone towards the Mainnet launch. This event coincided with a 3% rise in the price of Pi Coin. The primary goal of the upgrade is to enhance blockchain functionalities, which will increase system stability and improve account mapping.
Institutional Interest and ETP Launch
Institutional interest in Pi Network has grown with the launch of an Exchange Traded Product (ETP) by a major firm. This event highlights the growing interest from institutional investors, despite overall market volatility.
Market Prospects and Expectations
While the price of Pi Coin saw an uptick, the broader cryptocurrency market, including major coins like ETH and BTC, remained relatively stable. Technological changes are expected to be closely monitored as the Mainnet launch approaches. According to Dr. Altcoin, 'Pi Network has upgraded its blockchain protocol from version 19 to 20, currently on Testnet. This process is expected to be a gradual upgrade leading up to version 23.'
The protocol upgrade of Pi Network creates positive market sentiments, but uncertainty surrounding the Mainnet launch timeline and regulatory responses remain significant factors for future growth.
