After several weeks of little to no updates from the Core Team regarding the status of the upcoming version 25, they finally announced the completion deadline.

The question now is whether the next major upgrade can provide some relief for the underlying asset, which has been the most volatile token in the past few days – mostly in the wrong direction, though.

Next Update Date

Pi Network’s team has been trying to improve the overall ecosystem for months. The protocol updates began in mid-Q1 with the introduction of version 19.6. Several others followed suit, with v20.2 perhaps being the most important since it laid out the foundation for smart contract capabilities.

The speed at which the new upgrades were deployed slowed down in Q2, but the team still migrated to v22 and v23 in May. The last and current version 24 was implemented in early June, but it came with a slight delay.

It has been six weeks since then, and there was no major clarification on when version 25 will be deployed. However, the team changed that hours ago by outlining that it should be completed by July 22. They noted that the new update will focus mostly on “improving network stability and reliability.” It will also support new capabilities for “more efficient, privacy-preserving smart contracts.”

PI Craters Again

The project’s native token has been on nothing short of a painful rollercoaster ride in the past several days. It broke down below the key $0.10 support, and the bears managed to control almost all moves, which included setting consecutive all-time lows. The latest came two days ago at just over $0.07.

That level managed to act as a strong support at first and provided a major rebound yesterday. As reported, PI rocketed by over 15% at one point and jumped past $0.085. However, another rejection followed suit, and the token nosedived again. It’s down by 8% in the past 24 hours and struggles below $0.074.

PI continues to trade more than 97% away from its all-time high from February last year. Moreover, it’s down by over 35% in the past two weeks alone.

Source: CryptoPotato