What a volatile ride it has been for Pi Network’s native token after the calmness experienced during the December holidays. The asset was charting severe losses for several consecutive weeks, but the past few days have been a lot more positive.
This resurgance comes after the team issued an important reminder about a deadline for today.
PI Rockets
As mentioned above, PI was consistently one of the worst performers in the cryptocurrency markets ever since the last correction began in mid-January. The asset marked consecutive all-time lows, with the latest being at $0.1312 on February 11. As the community was lashing out against the project behind it and there were calls for further decline, the trend reversed in the past few days.
PI’s price went on a wild run, gaining more than 30% in the past day alone, and over 55% since its all-time low seen just a few days ago. As such, it now trades above $0.20, which has prompted many Pioneers to celebrate the move and call for further gains.
“Huge congratulations to all Pioneers who recently DCA’d at the bottom around $0.13 – that decision is paying off nicely right now. A special shoutout and big thanks to PiBridge – a project that truly listens to the community and delivered one of the most useful features yet: USDT loans collateralized by PI. Thanks to this, anyone who urgently needed cash but didn’t want to sell their PI at the painful $0.13-$0.14 levels can now avoid massive regret,” commented Cryptoleakvn.
It’s worth noting that today’s surge comes just a day after a popular crypto analyst, Captain Faibik, said they added PI to their portfolio and predicted a massive 500% surge.
Deadline Approaches
Separately, but perhaps somehow related to the recent pump, is the deadline ending today that concerns Pi Network’s “4th role” – Pi Nodes. As reported earlier this week, the Pi Mainnet blockchain protocol is undergoing a series of upgrades, and the deadline for the first one is February 15.
It requires all Mainnet nodes to complete this important step to remain connected to the network. In this article, we reiterated the Core Team’s explanation that nodes must run on laptops or desktop computers, which would allow them to help power PI decentralization by validating transactions, strengthening network security, and supporting global consensus and trust.
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