Protocol 21 Upgrade Sets Critical April 6 Deadline
Pi Network has initiated its second migration phase, requiring all mainnet node operators to upgrade to Protocol 21.2 before the April 6 deadline to avoid network disconnection. This focuses on stability and efficiency to handle heavier traffic, with a roadmap scheduling Protocol 22.1 for April 22 and Protocol 23.0 for May 18, targeting smart contract support, a Pi DEX, and DeFi tools.
Node Compliance and Network Evolution
The April 6 deadline pressures approximately node operators to update, as failure could disrupt connectivity. This step is foundational for future features, aiming to improve transaction flow and expand use cases for the network’s user base.
Pi Price Analysis: Weak Momentum Amid Technical Progress
At reporting time, Pi coin traded at $0.174, which is 78% below its all-time high. The 24-hour trading range was $0.172857 to $0.181308, with a volume of $17,482,947 and a market cap of $1,793,474,348. Daily performance showed a 4.08% increase, but over 7 days, it declined by 9.54%.
Technical Indicators Signal Ongoing Seller Control
Technical analysis reveals weak momentum: the RSI stands at 45.29, below the neutral 50 and its moving average of 47.54. The MACD line remains below the signal line with a negative histogram, indicating seller dominance, though downside pressure is easing.
Broader Market Context: Altcoin Upgrades and Investor Strategy
In the broader crypto market, Bitcoin (BTC) trades at $66,895.00 and Ethereum (ETH) at $2,022.98, with Solana (SOL) at $83.37. Pi’s push for smart contracts positions it against established players, where protocol upgrades often drive volatility. Similar to Ethereum’s EIPs, Pi’s developments could impact its valuation, but current weak indicators suggest high risk in the $1.79B altcoin sector.
Investment Implications and Comparable Assets
Investors should monitor node compliance by April 6 and the May 18 smart contract rollout as key catalysts. Compared to major cryptos, Pi’s $0.174 price and $1.79B cap indicate it’s a speculative play, with network success hinging on execution amidst broader market trends like Bitcoin’s dominance and Ethereum’s DeFi ecosystem.
Investor Takeaway: Neutral to Bearish short-term due to weak technicals and selling pressure, but Bullish long-term if Protocol 23.0 delivers smart contracts by May 18 as planned. Focus on roadmap milestones for alpha generation in altcoins.
