Pi Network’s PI token climbed 5% in 24 hours to $0.086, briefly touching $0.088, even as Bitcoin slid to $62,400. The move came as the Pi Core Team announced the blockchain is migrating to protocol version 26 — one of the biggest updates since v20.2, which laid the groundwork for smart contract building. All Mainnet node operators must complete the upgrade by August 11 or risk losing connection to the network.
The v26 upgrade
Protocol v26 brings improvements to contract safety, state management, interoperability, and cryptographic capabilities. The Core Team described it as a major milestone. The update follows v25, which was deployed earlier this week without official confirmation — the team’s announcement of the v26 deadline implies v25 went through successfully. A further upgrade, protocol v27, is already planned for late August or September 2026, and is expected to be the final planned protocol update.
Token price action
PI’s 5% gain stands out against a broader market slump. But the token remains down more than 97% from its all-time high in February 2025. Its market cap sits below $1 billion, ranking it as the 68th-largest cryptocurrency. The timing of the upgrade announcement may have given traders a reason to buy, though the long-term picture remains bleak for early holders.
Deadline and deployment
The Core Team set the August 11 deadline the same week it announced v26. That means node operators have just over a week to update their software. Anyone running a Mainnet node who misses the cutoff will be disconnected from the network. The team hasn’t said whether there will be a grace period or what happens to nodes that don’t upgrade in time.
What’s next
With v26 rolling out now, the Pi Core Team is expected to share more details on v27 later this month. For node operators, the immediate task is clear: upgrade by August 11 or get left behind. For PI holders, the upgrade is a technical milestone, but the token’s price is still a fraction of what it was 18 months ago.
