Pi Network Price Eyes Major Breakout Amid v23 Upgrade & Pi ETP Optimism

The Pi network is back in the spotlight and could be about to kick off September on a bullish note. The network has finally announced some major changes after months of barely any network-related communication.

Pi network is now available across three major operating systems. The network announced the release of Linux nodes, meaning the protocol is now available across three operating systems.

The expanded support was part of the Pi network team’s push towards more accessibility. According to the official release, this move will reportedly make automatic updates easier to manage.

Pi Network Reveals Upcoming Protocol Upgrade from Version 19 to Vversion 23

The Pi network team also revealed that it had another major upgrade in the pipeline. This one would be even bigger than the operating system expansion.

The protocol version 23 will reportedly introduce improvements such as smart contracts without intermediaries. The upgrade also aims to align Pi network with key narratives of the current market cycle.

For instance, version 23 will introduce support for real-world assets on the network. This will span across different industries, including stocks, real estate, and commodities. The upgrade also targets AI integration into the Pi network.

Also worth noting was that the version 23 protocol upgrade was expected to nudge Pi network towards more decentralization.

Based on the data, it was clear that the Pi network core team finally responded to criticism. They previously faced backlash for failing to provide development updates.

This latest information dump may thus have a significant influence on the Pi community.

Valour Announces New ETPs for 8 Cryptocurrencies, Including Pi Coin

Digital assets ETPs issuer Valour Funds recently announced the launch of 8 new cryptocurrency ETPs.

Pi coin was one of the cryptocurrencies that made the list, which meant that the cryptocurrency could be headed for exciting times ahead.

Pi coin ETPs will be on track to access more liquidity through the stock market. In other words, the Pi coin ETP may pave the way for mainstream adoption, which could translate to a massive wave of liquidity inflows.

The development also underscored potential exposure to institutional investors. This could place Pi network on the fast-track for recovery after an overall bearish trend since late February this year.

Pi coin Makes Another Bullish Attempt, but Will it Stick This Time?

The crypto market experienced a significant pullback in the last 7 days. A 3.6% retracement occurred across the total crypto market cap, confirming the overall market direction during the week.

Interestingly, Pi coin was up over 9% during the same week, indicating that it was able to decouple from the rest of the crypto market.

This was an important observation because Pi coin was previously at the mercy of the bears since February this year.

Pi coin’s bullish performance was not a fluke but mostly the market’s reaction to the aforementioned developments.  The cryptocurrency exchanged hands at $0.38 at press time.

Both the RSI and the MFI achieved significant upside in the last 4 weeks. A sign that the cryptocurrency was gaining momentum and more liquidity inflows.

Pi coin price was still heavily discounted from its historic top by about 87%. This means the cryptocurrency could be on track to make a robust comeback if the recent developments shift the tides in favor of the bulls.