Pi Network’s Testnet Upgrade Introduces New Features,But Price Remains Stagnant
Pi Network’s price hovered around $0.2735 on October 1, despite the developers unveiling new features on the testnet.This price is significantly lower, about 90% below its all-time high, indicating considerable losses for investors.
The recent upgrade aligns with Stellar’s Protocol 23, introducing parallel processing and live state prioritization. The team also launched a decentralized exchange and automated market maker tools on the testnet. These features allow developers and users to experiment with token swaps and liquidity pools.
These upgrades aim to make Pi Network a major player in the Web3 industry. However, the price remained muted as the developments haven’t addressed core challenges. Pi is highly inflationary due to substantial token unlocks and centralized, with the Pi Foundation controlling billions of tokens.
Most exchanges have avoided Pi due to its centralization. The four-hour chart shows a bearish flag pattern, suggesting a potential drop to $0.20. A move above $0.3300 would invalidate this bearish outlook.
- New decentralized exchange and automated market maker tools on testnet
- Price remains stagnant despite upgrades
- Core challenges like inflation and centralization persist
For more details, check the official Pi Network tweet.
