The recent updates from Pi Network have attracted considerable attention, with its token PI maintaining a price above $0.3400 per unit on Wednesday, rising by 1.23%. Everyone is watching the upcoming Stellar protocol 23, which is the voting for Whisk, as it may bring new momentum to Pi Network and activate the entire Pi ecosystem. In addition, Onramp Money officially announced on Monday that it will support the PI token, which has also become a significant highlight.

Pi Network is based on a modified Stellar protocol and is currently undergoing a technical upgrade in preparation for the upcoming Stellar protocol 23. This upgrade is expected to have a vote on Wednesday at 17:00 GMT, focusing on key enhancements for blockchain development, including unified events and parallel transactions. Pi Network stated that it will draw on the upgrade experience from the improved Stellar program to promote the launch of the Pi node Linux version and the development of the Pi ecosystem.

The planned upgrade will first be tested on two testnets before being rolled out to the mainnet, which may result in unexpected network outages. In addition, Pi users, also known as pioneers, will need to go through a decentralized KYC process to join the mainnet. This protocol upgrade will support the transfer of authorization for the Pi KYC solution to other entities.

Alongside technological reforms, Onramp Money announced the integration of the PI Token on Monday. The deposit protocol has urged users to ensure they use the Pi mainnet wallet address instead of the testnet address to ensure that the service is restricted to addresses verified through KYC.

In terms of price, Pi Network remains above the key support level, located above $0.3400, consolidating Tuesday's rise. As one of the largest KYC-based crypto projects, Pi faces minimal resistance but still carries the risk of dropping to the $0.3220 support level, which is the record low set on August 1.

However, the trend of the Relative Strength Index (RSI) shows an upward trend, reaching 43, which coincides with multiple supports above the price trend at $0.3220, suggesting a bullish divergence.

To confirm the rising trend, the Supertrend indicator needs to make a clear close above its red line at $0.4100, which will prove that the daily average chart's downward channel pattern since May has been broken. Conversely, if it falls below the $0.3220 level, PI may continue to decline to the psychological barrier at $0.3000.🙌