Pi Network’s PI token climbed on March 20 after a sharp three-day drop, as traders tracked the project’s next protocol update and the latest token unlock data. The token traded above $0.19 after gaining more than 7% on the day, placing it among the stronger-performing altcoins during the session.
Summary
- PI token rebounded above $0.19 after a steep three-day correction erased nearly half its value earlier.
- Pi Network’s upcoming v21 upgrade kept traders focused after recent updates added foundations for smart contract support.
- Token unlock data showed lighter daily releases ahead, except for March 20’s scheduled 16 million coins.
PI token (PI) entered March with wide price swings. The token moved from below $0.175 to above $0.23 by March 9. Market activity increased around protocol updates and exchange-related developments, which brought more attention to the asset.
The rally extended after Kraken announced plans to list PI on March 13. The token then rose to nearly $0.30, which marked a five-month high. After trading began on the exchange, the trend reversed. PI dropped sharply and fell back to about $0.175 earlier this week.
The decline erased close to half of the token’s value in about 72 hours. The move matched a “buy-the-rumor, sell-the-news” pattern often seen in digital asset markets. Buyers later returned, helping the token recover above $0.18 on March 19 and above $0.19 on March 20.
Pi Network price chart — March 19 | Source: crypto.newsThe rebound came during another active period for the Pi Network community. Price action remained sensitive to both technical updates and exchange-driven sentiment. Traders also watched supply data closely as new tokens moved toward release.
Unlock schedule remains in focus
PiScan data showed that the average number of tokens set to unlock over the next month stayed below 5.5 million per day. March 20 stood out from the rest of the schedule, with about 16 million coins expected to be released. After that, the remaining days of the month appeared less heavy in terms of supply.
Token unlocks often draw attention because they can affect short-term trading behavior. A larger release can increase the number of coins available on the market. A lighter schedule across most of the month may reduce some of that pressure, although price direction still depends on demand and broader market activity.
The latest unlock figures arrived as PI tried to recover from the recent sell-off. Market participants appeared to balance two factors at once. One was the recent decline after the Kraken listing. The other was the expectation that lower daily unlocks later in the month could limit added supply.
Protocol upgrades drive market attention
Pi Network has rolled out several updates in recent weeks. Version 19.6 arrived on February 20, followed by version 19.9 on March 4. The team also completed version 20.2 before March 14, which the community marks as Pi Day.
Version 20.2 drew attention because it set the base for smart contract capabilities. The team said the rollout would happen gradually and would focus on categories tied to utility-based product innovation and operations. That plan placed more attention on how the network may expand beyond its current structure.
The next step on the roadmap is version 21. The team has shared only limited details so far. Even so, it asked node operators to keep their systems updated as preparation continues. That message kept the coming release in focus as PI attempted to stabilize after recent volatility.
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Source: https://crypto.news/pi-climbs-above-0-19-as-pi-network-eyes-v21-launch/
