Pi Network Upgrades to Protocol v23, Enhancing Transaction Support

Pi Network Protocol Upgrade

The Pi Network has upgraded its Testnet 1 blockchain to protocol version 22, with plans for further upgrades to version 23 and the mainnet.
Protocol v23 successfully validated block 20,824,824 without failed transactions, supporting up to 1,000 transactions per block.
The upgrade aligns Pi Network with Stellar's infrastructure, aiding developers in testing applications before mainnet deployment.
A decentralized KYC system is planned, which will support national ID verification and open infrastructure for external projects.

Pi Coin is consolidating within a descending parallel channel, currently priced at $0.3586.
The RSI is at 49.82, indicating neutral conditions; the MACD suggests a possible trend reversal if buying volume increases.
A breakout above channel resistance could lead to prices of $0.65, $1.00, and $1.67.
Failure to break above resistance might result in a drop to $0.32, with potential further decline to $0.18.

A 100x increase to $36+ is unlikely soon due to the current $2.9 billion market cap.
If Protocol v23 transitions successfully to the mainnet and adoption grows, long-term potential remains significant.