Pi Network has moved its mainnet to Protocol 20, with major nodes now running version 20.2. The change is being presented as a full protocol transition rather than a routine upgrade, opening the chain to smart contracts and decentralized applications.
Mainnet shifts to Protocol 20 with node upgrade completed
According to the report, the new protocol introduces support for self-executing contracts, allowing the blockchain to host services such as escrow-style functions and new onchain apps. The team said the rollout will be gradual, with new tools introduced in step with community demand. The update follows Pi Day 2026, when a Testnet Token Launchpad was launched. Pi Network also says more than 50 million people have mined on mobile since 2019.
Second migrations begin as 2FA becomes mandatory
Alongside the protocol shift, token movement rules are also changing. Second migrations have started, giving users a way to move additional Pi to mainnet. Before any transfer can be made, users must enable two-factor authentication, link a trusted email address, and complete wallet security setup.
Pi has also been listed on Kraken, bringing fresh attention to the project. Even so, the listing did not produce a stable rally. The report says the market instead saw weakness, with analysts pointing to low liquidity as the main reason price swings have been so sharp when sellers appear.
Price holds near $0.17 support as volume stays thin
CoinMarketCap data in the report shows Pi trading at $0.1736, down 6.11% over 24 hours. Market capitalization stands at about $1.69 billion, while fully diluted valuation is much higher at $17.34 billion. Its 24-hour trading volume is listed at $31.19 million, and the volume-to-market-cap ratio is only 1.91%, a sign of limited depth in the market.
Momentum readings remain weak. RSI is at 43.86, indicating neutral-to-bearish conditions, while MACD sits at -0.005576, suggesting sellers still control the short-term trend. The token is hovering near $0.17 support; if that level breaks, the report says price could test $0.15. A major token unlock is also expected, adding potential supply pressure in the sessions ahead.
The Protocol 20 rollout pushes Pi Network beyond its mobile-mining identity and toward a mainnet built for actual Web3 utility. In the market, though, thin liquidity, migration-related selling, and sensitivity to Bitcoin price moves are still weighing on short-term performance.