Pi Network Nears Protocol 23 Upgrade as Price Stay Weak

• Pi Network nears Protocol 23 rollout as most nodes upgrade while price stays under pressure.
• Over 18M users verified, but market weakness continues despite steady trading activity and volume.
• PI remains in a long downtrend, with lower highs signaling weak recovery despite ecosystem expansion.

Pi Network has moved closer to completing a major system upgrade after most Mainnet nodes shifted to Protocol 23 on May 20. The Pi Core Team confirmed the rollout in an update on X and said most operators have already completed the migration. The upgrade comes at a time when PI token prices remain weak in broader crypto trading.

The transition involves a full backend overhaul across the network. Besides moving from Protocol 22 to 23, operators also upgraded Ubuntu systems from version 20 to 24. The database layer also shifted from PostgreSQL 12 to PostgreSQL 16.

As a result…

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