What Does the Next Big Update Mean for the PI Token

PI has a history of gaining traction ahead of major announcements and updates – will it happen again now?

The team behind the controversial project has outlined the new deadline for the completion of the latest protocol update, version 23.

At the same time, the native token has calmed at around $0.18 after the most recent volatility, but history shows that its fluctuations could return once the community anticipates new updates.

V23 Is Coming

Pi Network’s major protocol upgrades began in late February with the introduction of version 19.6. The following one, v19.9, arrived in early March, while perhaps the most significant, v20.2, which laid out the foundations for smart contract capabilities, was implemented by PiDay (March 14).

The team continues with frequent protocol upgrades in April as well, with version 21 deployed at the beginning of the month, while, as reported earlier today, version 22 came at the end of the month, even though it was confirmed on May 1.

The Core Team first only hinted at the next in its roadmap, version 23, and told the vast number of Nodes to wait for more information on the matter and it didn’t take long before it was announced.

Earlier today, the only official X account linked to Pi Network said protocol update 23 will be implemented by May 15. As usual, all Nodes have to complete the necessary steps to ensure they are not disconnected from the network.

The Pi Mainnet is upgrading to Protocol 23 – Deadline: May 15.

All Mainnet nodes are required to complete this step before the deadline to remain connected to the network. This upgrade takes longer to complete, so plan accordingly.

Details here: https://t.co/9VehO7hhj1

— Pi Network (@PiCoreTeam) May 2, 2026

Will PI Pump in Anticipation?

The project’s native token has performed somewhat differently from the rest of the market, as it seems that it’s influenced mostly by internal activities rather than the overall crypto trend. Last week, while BTC and most alts stood still and even charted some losses, PI went on an impressive run, surging from $0.17 to $0.20.

As the market began its post-FOMC recovery on Thursday, PI was rejected at that monthly high and slumped to $0.17. The gains coincided with growing anticipation for the announcement of the new protocol update, alongside another team statement regarding the completion of over 526 million tasks from a million verified users.

As such, the question now is whether PI will outperform in the following weeks before version 23 is officially deployed.