Pi Network’s native token continues to defy the overall market moves, as the asset has charted gains even in the past 24 hours when bitcoin and most other altcoins have posted losses.
The most probable reason behind this disparity could be linked to the recent updates announced by the team, including a deadline for the next big one.
PI Rockets Above $0.20
It was less than a month ago, on February 11, when Pi Network’s token was digging new lows almost daily. The broader market’s crash pushed PI south hard, but it finally bottomed on that day at $0.1312. This meant that it had lost roughly 95% of its value since its all-time high marked on February 26, 2025.
However, PI reacted well to this crash and quickly jumped past $0.20. That level was too strong for the PI bulls, and it slipped back down to $0.16. Another leg up followed that culminated earlier today as the token skyrocketed to over $0.20 once again, charting a new three-week high. As of now, it trades over 50% above its all-time low seen less than a month ago.
Its market capitalization has climbed to well over $1.9 billion, which makes it the 44th-largest cryptocurrency by that metric. However, it’s worth noting that there are some worrying signs about its future price performance that could jeopardize its rally. Some of those include the massive number of tokens scheduled to be unlocked tomorrow and the RSI, which is now within an ‘oversold’ territory.
New Deadline Approaches
PI has demonstrated in the past that it tends to move mostly in line with some big announcements or updates from the team. Just earlier this week, it jumped by 9% daily after the implementation of the v19.9 protocol update. Now, they have set their sight to the next one, which they claim is currently in progress and could be the driver of PI’s latest gains.
At first, the team said they wanted to complete the v20.2 update by Pi Day 2026 (March 14), but they have moved up the timeline to March 12.
Protocol upgrades in progress (Step 3 – Deadline: March 12): The Pi Mainnet blockchain protocol continues to undergo a series of upgrades. All Mainnet Nodes are required to complete this step before the deadline to remain connected to the network. Details here:…
— Pi Network (@PiCoreTeam) March 5, 2026
The post Pi Network’s PI Surges Past $0.20 Ahead of Key March 12 Deadline: Details appeared first on CryptoPotato.