Pi Network Adopts Stellar 23 With Little Market Impact

Despite a major update to version 23 of its protocol, Pi Network struggles to spark market enthusiasm. In a sector where every innovation is scrutinized to revive bullish momentum, the announcement of technical advances inspired by Stellar Protocol 23 and the integration of new functionalities were not enough to boost its token price. This dissonance between technological progress and stock market inertia raises questions about the project’s ability to convert its evolutions into real value.

A major but discreet technological evolution

While the crypto came close to a new collapse followed by a massive investor exodus, Pi Network announced on August 27 the gradual launch of its upgrade to version 23 of its protocol, a strategic step built on the basis of the Stellar Protocol 23.

This new version introduces new layers of functionality and control for the blockchain. The goal is to strengthen the network structure while preparing the ecosystem for its future public opening.

The deployment of this update follows a progressive logic. According to official information, the transition has three stages :

• Testnet 1 : already active at the time of the announcement, serving as the initial testing ground ;

• Testnet 2 : the next phase scheduled in the coming weeks, which will expand testing to a second layer of validators ;

• Mainnet: the final stage of switching to version 23 across the entire network.

By integrating the Stellar Protocol 23, Pi Network aims to enhance stability, improve scalability, and increase cross-chain compatibility. Yet, despite the scale of the technical project, no significant market reaction has been recorded, and communication about the precise migration schedule remains limited.

This relative silence contributes to a mixed perception of the update, which so far remains confined to the technical sphere and is hardly visible to the general public.

Price inertia revealing skepticism

On the crypto market side, the conclusion is clear: the PI price remains frozen at $0.34, below its 20-day exponential moving average at $0.36, which now constitutes a technical resistance.

This configuration reflects increasing selling pressure that prevents any significant rebound, despite the announcement of the update. Worse, the Chaikin Money Flow (CMF), a capital flow indicator, stands at -0.11, a clearly bearish signal indicating more outflows than inflows. In other words, investor confidence remains insufficient to restart upward momentum.

This technical weakness, combined with the absence of a strong narrative catalyst, poses a real risk of a return to the historical floor of $0.32. If this level breaks, new lows could be reached, further compromising the short-term credibility of the token.

However, in case of sentiment turnaround and a clear breach above $0.36, a bullish target around $0.40 could become feasible again. This would imply a reversal of the current on-chain data, which is far from starting.

This dichotomy between technical progress and market inertia raises questions about the perception of Pi Network. The real adoption of the protocol, the clarity of its tokenomics, and above all the full opening of its Mainnet, which could unlock frozen Pi bonuses and balances, remain necessary conditions to hope for a change of trajectory. As things stand, the evolution towards V23 appears as a discreet, technologically relevant advance but still disconnected from the expectations of the crypto market.