Key Highlights
- Pi Mainnet has completed the Protocol 23 upgrade and is now moving toward Protocol 24.1, with a hard deadline of June 2.
- The Pi Core Team is warning the community against fake “Global Consensus Value” narratives.
- Pi is currently trading at $0.143, facing downward pressure from nearly 187 million tokens set to unlock.
Pi Network has made significant development within its own infrastructure. The network managed to roll out Protocol 23 across its mainnet. After this successful rollout, the network is now set to roll out Protocol 24. Node operators have until June 2 to complete the upgrade, or they risk losing their connection to the network entirely.
The team confirmed on May 27 that all mainnet nodes must update to version 24.1 before that deadline.
What Is This Upgrade About?
These protocol upgrades are like updating your phone’s operating system. Each new version makes things run smoother, faster, and more reliably behind the scenes. The full upgrade path currently looks like this:
19.1 → 19.6 → 19.9 → 20.2 → 21.2 → 22.1 → 23.0 → 24.1 → 25.1 → 26.0
is mainly about improving the ledger structure and strengthening the overall network foundation. For most node operators, the upgrade should take less than 15 minutes. Windows and Mac users mostly receive these updates automatically through the Pi Desktop app. Linux users now have a new command-line tool that simplifies the process. After June 2, the next milestone is June 15, when the network begins moving toward Protocol 25. Protocol 26 follows after that.
How to run a Pi Node?
To get started, one needs to download and install the Pi Node software on a desktop or laptop, fill out the application inside the app, and install the required technical packages. The software can run quietly in the background.
From there, the Pi Core Team reviews applicants and selects nodes on a rolling basis. What they look for is mainly reliability like being online as close to 24/7 as possible, having a stable and reasonably fast internet connection; the ability to open ports on a local router; and a computer with enough processing power and memory to handle the workload. A Pioneer’s history within the Pi community also matters, things like security circles and past contributions factor into the decision.
Once shortlisted, an applicant gets invited to complete KYC verification. Clearing that step means getting officially enrolled as a Node or SuperNode on the network.
Scammers Are Riding the Hype
Alongside the technical work, Pi’s community moderators have been dealing with a growing wave of misinformation. Viral posts across social media have been pushing what’s called the “Global Consensus Value” or GCV claiming Pi has some officially recognized price target tied to sky-high numbers.
The Pi Core Team has never endorsed any fixed GCV pricing model. Community leaders have been vocal about this, banning accounts that aggressively pushed these narratives and calling out streamers and influencers who’ve been misleading users with unrealistic price expectations.
There were also rumors circulating about a “Shanghai Pi Pioneer Building” event supposedly involving Pi’s founders, Nicolas Kokkalis and Chengdiao Fan. Moderators say there’s no official confirmation of any such event.
Pi Network Price Action
As of now, Pi is trading around $0.143, down about 2.7% in the last 24 hours as per CoinGecko. That’s slightly worse than the broader crypto market, which also dipped Bitcoin, which fell around 1.36% in the same window.
The main drag on price right now is supply. Roughly 185 million PI tokens are expected to unlock in the next 30 days, and over 1.65 billion more are scheduled to unlock over the next year. When more tokens keep entering circulation, it naturally puts downward pressure on price.The key level to watch is $0.14. If Pi holds above that, there’s a chance prices stabilize. If it breaks below, analysts point to around $0.12 as the next support level.
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