Pi Network’s PI Token Dumps 13% Weekly as Team Announces Crucial Deadline Ahead

The Core Team behind the controversial blockchain project has outlined the deadline for the completion of the next major upgrade, which should take place in the next week or so. However, the protocol’s native token continues to bleed, dropping over 3% in the past day and dumping by double-digits weekly.

Key takeaways

Quick scan — what you need to know:

• The Core Team behind the controversial blockchain project has outlined the deadline for the completion of the next major upgrade, which should take place in the next week or so.
• However, the protocol’s native token continues to bleed, dropping over 3% in the past day and dumping by double-digits weekly.
• It has erased essentially all gains charted during the post-Kraken-announcement rally.
• Next Update Deadline The big protocol updates for Pi Network began in late February when the team announced the migration to version 19.6.

Background

What led here, in plain terms:

• The next one, v19.9, followed suit in early March.
• The most anticipated upgrade was version 20.2, which drew significant attention as it laid the groundworks for smart-contract capabilities, which would allow Pi Network to become a fully functional…
• After it was successfully upgraded by Pi Day (March 14), the team set its sights on the next big move – moving to protocol 21.
• However, it didn’t initially provide a specific timeframe for completion, which led some community members to question the actual implementation.

Why it matters

Why readers and decision-makers should care:

• Pi Token Unlock Schedule.
• Source: PiScan The post Pi Network’s PI Token Dumps 13% Weekly as Team Announces Crucial Deadline Ahead appeared first on CryptoPotato.
• Recall that PI traded close to $0.30 just a few weeks ago.