PI Network’s PI token rose on March 20 after a sharp three-day decline, as traders tracked the project’s next protocol update and the latest token activation data. The token traded above $0.19 after gaining more than 7% per day, placing it among the strongest performing altcoins during the session.
Summary
- The PI token rebounded above $0.19 after a three-day sharp correction erased almost half of its previous value.
- The upcoming v21 update for Pi Network has kept vendors focused after a recent update added the basics of smart contract support.
- Token launch data showed light daily releases earlier, with the exception of March 20’s scheduled 16 million coins.
The PI token (PI) entered March with a wide price swing. The token went from below $0.175 to above $0.23 on March 9. Market activity increased regarding protocol updates and developments related to the exchange, which brought more attention to the asset.
The rally increased after Kraken announced plans to list on PI on March 13. The token then rose to around $0.30, which marked a five-month high. After trading started in the trade, the trend reversed. PI has dropped significantly and moved back to around $0.175 earlier this week.
The decrease wiped out close to half of the token’s value in about 72 hours. The move matched the “buy the rumor, sell the news” pattern often seen in digital commodity markets. Buyers later returned, helping the token recover above $0.18 on March 19 and above $0.19 on March 20.
The rebound came at another active time for the Pi Network community. Price action remains sensitive to both technical updates and exchange-driven sentiment. Traders are also watching supply data closely as new tokens get closer to release.
The opening system remains fixed
PiScan data showed that the average number of tokens set to open in the next month remained below 5.5 million per day. March 20 is the highlight of the entire program, with around 16 million coins expected to be released. After that, the remaining days of the month seemed to be underweight in terms of supply.
Token unlocks often attract attention because they can affect short-term trading behavior. A larger release would increase the number of coins available in the market. A lighter schedule throughout the month may alleviate some of that pressure, although price direction still depends on demand and broader market performance.
The latest opening figures came as PI tried to recover from recent selling. Market participants appeared to be balancing two factors simultaneously. One was the recent drop after Kraken was listed. Another expectation was that a lower daily opening later in the month could limit further supply.
The development of the protocol is driving the market’s attention
The Pi Network has released several updates in recent weeks. Version 19.6 arrived on February 20, followed by version 19.9 on March 4. The team also finished version 20.2 before March 14, which the community marks as Pi Day.
Version 20.2 has attracted attention because it lays the foundation for smart contract capabilities. The team said the rollout will happen gradually and will focus on areas related to service-based product innovation and performance. That plan placed more attention on how the network could expand beyond its current structure.
The next step on the roadmap is version 21. The team has shared only limited details so far. However, it has asked node operators to keep their systems updated as maintenance continues. That message kept the upcoming release in focus as PI tries to stabilize after recent volatility.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
