The Pi Network token surges up 15% with Protocol v23 going live on Testnet, enabling smart contracts and increasing the trust of holders with 3.36M KYC verified.
It makes Pi Network a step closer to its vision of a decentralized digital economy where anyone is able to create, trade, and innovate without restrictions.
This technical advancement enables the vision of Pi Network, which is to be a community-driven blockchain that combines DeFi and Web3 utilities.
The current developer tools and ecosystems are more encouraging of wider participation and innovation.
These verified users have already migrated to the Mainnet (around 2.69 million of them). Additionally, users moved more than 10 million PI tokens out of centralized exchanges. And this October, reducing liquidity and showing confidence in long-term holding over trading.
The increasing market confidence due to token withdrawals and the increasing completion of KYC underpins increased preparation by Pi.
The trading volumes increased drastically to a value of approximately 100 million. And the market capitalization reached 2.2 billion during the developments.
This indicates that the network is moving to a higher degree of decentralization, which is shown by the decreased exchange supply.
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