Pi Network’s native token (PI) experienced a significant surge, rising nearly 22%, adding over $350 million to its market cap in just one day. This unexpected rise came despite a downturn in the broader crypto market on October 29th. However, recent rumors about the network transitioning from Testnet v19 to mainnet have been refuted by community developers and independent trackers. Despite this information, Pi Network’s community remains positive as they await the upcoming mainnet launch and continue to make progress with their KYC verification rollout. The team recently announced that millions of users will be able to fully participate once the network launches. The anticipated v23 upgrade is viewed as a major step towards building a Stellar SCP-compatible blockchain infrastructure, offering smart contract (Soroban) and DeFi integration, crucial for Pi’s future development. Once implemented, all nodes will transition to protocol v23, enabling developers and users to access advanced Web3 tools, deploy smart contracts, and participate in decentralized applications. The new version will also bring governance improvements, updated monitoring tools, and expanded APIs. This anticipated upgrade has sparked renewed investor interest, as trading volume for PI has surged by nearly 128% in the past 24 hours, reaching $112 million. Despite recent momentum, the token remains about 90% below its all-time high of $2.98 from February.