Pi Network Token Continues Downturn Amid Upcoming Upgrade

The Pi Network, a blockchain project with a native token called PI, has been experiencing a significant downturn in recent weeks. Despite efforts by the Core Team to complete the next major upgrade, which is expected to bring new features such as smart contract capabilities, the PI token has dropped by 13% in the past week.

The team has announced that the deadline for completing the upgrade is April 6th, and they have urged all Mainnet nodes to complete this step before the deadline to remain connected to the network. However, it remains to be seen how this will impact the token's value.

According to data from PiScan, there are several days with over 10 million PI tokens set to be released in the next month, which could intensify selling pressure and lead to further declines.