Pi Network (PI) Upgrade Delay Weighs on Price; PI Falls to ~$0.15
Pi Network (PI) remains under pressure as protocol version 23 is still not fully deployed, despite most major Nodes upgrading. The Core Team said v23 is “one of the most challenging” upgrades because it requires multiple subsystem upgrades plus internal data reprocessing. In the meantime, Pi Network is pushing an ecosystem push via Pi App Studio and Pi Launchpad to help creators distribute and monetize AI-created apps and gain real users with token utility.
Security also became a focus: Pi’s official X account warned of scammers impersonating co-founders Nicolas Kokkalis and Dr. Chengdiao Fan, urging users to use the verified accounts.
Price action: PI slid from ~$0.175 (May 13) to a multi-month low near $0.145, later recovering to around $0.15. Despite OKX saying PI is available in the US market, PI is still down about 13% over the past two weeks and has dropped out of the top 50 alts by market cap before lingering around that level.
Bearish
This is likely bearish in the short term because the PI protocol update (v23) remains delayed/unfinished, which can increase trader uncertainty and reduce near-term catalysts. The market reaction is consistent with past crypto patterns where core-network delays often lead to profit-taking and weaker momentum, even when ecosystem initiatives are announced. Although OKX’s US availability headline could support sentiment, the article highlights that PI is still down ~13% over two weeks and has recently tested multi-month lows.
Longer-term, Pi’s emphasis on app creation/distribution (Pi App Studio, Pi Launchpad) and token utility could become a constructive narrative if v23 ultimately stabilizes and adoption grows. However, until the upgrade is fully deployed and sustained demand appears, traders may treat current strength as corrective bounces rather than a confirmed reversal.