Pi Network’s native token PI was among the strongest-performing cryptocurrencies on August 12, rising 4% over 24 hours to almost $0.09 and outperforming most top 100 digital assets, including Bitcoin, Ethereum, Ripple and Solana. The move pushed its market capitalization to just below $1 billion, ranking it as the 65th-largest cryptocurrency. The catalyst remains uncertain, but attention has centered on rumors that protocol version 26 has already been deployed after Pi Network previously asked mainnet node operators to complete the upgrade by August 11 to stay connected. The Core Team has not officially confirmed the rollout, though X users including Rizo and amrOnChain said v26 is in effect, with amrOnChain adding that Testnet 2 is now on protocol v26 and calling version 27 the last step before the network is fully updated. Some market watchers said the chart setup could support further gains, with one analyst arguing that a breakout above $0.10 may open the way to $0.15, a level last seen at the end of May. Even so, the token has faced repeated rejections after earlier rebounds, and downside risk remains amid a broader bear market.