The Pi Network Core Team has rolled out a series of technical upgrades, including the successful implementation of protocol version 21 and the launch of a Remote Procedure Call (RPC) server on its Testnet. The RPC server is described as an "important infrastructure milestone" that supports the development, testing, and future deployment of smart contracts. It enables two key interactions: free, instant read-only calls for querying data and state-changing transactions that require fees.
Despite these developments, the project's native token, PI, has failed to rally. Data shows it is declining on daily, weekly, and monthly scales, struggling below the $0.17 resistance level. This weakness is compounded by a significant upcoming token unlock schedule, where nearly 8 million PI tokens are set to be released daily on average over the next month. A concentrated unlock of roughly 62 million tokens is scheduled between April 15 and 17, which could intensify selling pressure.
Meanwhile, community sentiment remains mixed. While the team announced the conclusion of the first distribution of KYC validator rewards—covering over 526 million validation tasks—many users reported not receiving their rewards. A broader frustration persists over the perceived slow progress and PI's continued absence from major centralized exchanges.
In broader market news, Bitcoin (BTC) rebounded to near $73,000 following a temporary US-Iran ceasefire, but has since hovered around $71,700. Several prominent analysts, including Ali Martinez, Ted, and Lofty, have issued bearish predictions, suggesting BTC could still see a significant correction. Martinez forecasted a potential decline to almost $35,000, while Lofty envisioned a crash to $30,000. However, Martinez also noted such a pullback could present a "generational buying opportunity."
For Ethereum (ETH), analysts point to a key technical formation. Ali Martinez argued that if ETH holds above its "line in the sand" at $1,800, it could be poised for a massive surge, with price targets ranging from $4,000 to $4,900.
