The Pi Network has introduced version 20 on its testnet, a development that has coincided with a price increase of about 3% for Pi Coin (PI). This release represents the opening stage of a structured upgrade plan that is expected to progress steadily toward version 23 in the coming months.
Observers within the community described this step as an important milestone in strengthening the project’s blockchain framework. The new version is viewed as laying the groundwork for future Mainnet activities, an area where users have long awaited broader implementation. With millions of participants active in the ecosystem, each technical enhancement has been met with heightened attention and anticipation.
Growing recognition and institutional entry
Pi Network initially gained traction through its mobile-first mining concept, which enabled users across the globe to mine coins without advanced equipment. Despite its ongoing status as an enclosed ecosystem, the project has recently witnessed expanding interest from institutional investors. A billion-dollar asset management firm recently launched the first Pi Network exchange-traded product (ETP), underscoring the fact that traditional finance is beginning to acknowledge its potential.
Industry analysts noted that steady upgrades to blockchain protocols usually demonstrate long-term commitment from the developers. However, they also emphasized that while technical milestones are encouraging, the project’s ultimate success depends on how effectively it builds real-world utility, secures adoption, and completes its Mainnet transition.
Market response to the upgrade
The impact of the upgrade was also visible in trading activity. Data from TradingView showed that Pi Coin rose 2.46% over the past 24 hours to $0.3537, up from a previous close of $0.3452. Over the last week, the token registered a 2.70% gain, reflecting short-term market enthusiasm.
Pi Network has upgraded its blockchain protocol from version 19 to 20, currently on Testnet. This process is expected to be a gradual upgrade leading up to version 23. @PiCoreTeam @nkokkalis @Chengdiao pic.twitter.com/EY0kuEjyyh
— Dr Altcoin (@Dr_Picoin) September 12, 2025
However, the longer-term performance has been less favorable. The token declined nearly 10% over the past month, while six-month losses have been reported at over 75%. Despite these setbacks, Pi Coin still records cumulative gains of more than 253% since its launch. Market watchers suggested that these fluctuations reveal how broader conditions in the crypto sector continue to influence newer digital assets, even when specific projects announce progress.
Expanding ecosystem utility through domain auction
In parallel with the protocol upgrade, Pi Network has also introduced a domain name auction designed to extend the utility of its ecosystem. Reports indicated that the auction would run until September 30, allowing users to acquire preferred digital domains connected to Pi. The initiative aims to encourage the community, often referred to as pioneers, to establish digital identities and services within the network. Supporters view this as a step that could enrich the ecosystem’s functional layer while motivating engagement beyond simple token speculation.
Balancing progress with volatility
The shift to version 20 represents an important technological achievement for the Pi Network. For its user base and potential investors, the key challenge remains aligning their expectations of structured growth with the realities of a volatile cryptocurrency market. As the upgrade plan advances toward version 23, the community will likely continue monitoring both the pace of technical progress and its potential influence on the token’s standing in the broader digital asset landscape.