Pi Network’s native token has been on a spectacular run lately, defying the overall market-wide trend by registering consecutive double-digit gains that drove it to a fresh three-month peak of over $0.23 earlier today.
The most probable reasons behind these gains are related to protocol updates and the latest Pi Node case study published by the team earlier this week.
The Case Study
The team’s statement indicated that they are exploring how the global network of distributed nodes could support decentralized AI training and computing tasks, which could unlock a new layer of utility beyond securing the Pi Network blockchain.
They claimed that the network itself is relatively energy efficient and does not require the full computational capacity of its worldwide node community. Consequently, a large portion of that unused computing power remains available across thousands of machines running Pi Nodes.
The team believes this untapped capacity could be utilized by third parties requiring larger-scale computing resources, especially for AI model training and inference workloads. Pi Node operators who choose to participate in such a system could lend their computing resources and receive cryptocurrency-based compensation for completing computational tasks.
With over 421,000 Pi Nodes globally, representing more than a million CPUs, the network already operates as a large distributed computing environment, continued the statement. Its ecosystem includes tens of millions of claimed KYC-verified users who could potentially provide human-in-the-loop input for AI training tasks.
“This, in addition to the computing power from Pi nodes, can offer a unique resource for scalable, authentic human input in AI systems, and further complete the one-stop service to AI clients.”
The team said they already ran a pilot with 7 volunteer Pi Node operators. The results were quite promising, as tasks were “correctly pushed to the external testers (volunteer Pi node operators) and valid results were sent back to OpenMind.” They added that the use case was proven: Pi Nodes can opt in to run computations defined and requested by a third party, unrelated to their blockchain obligations, and return meaningful results to a third-party client.
PI’s Rally
In addition to the promising news for the vast Pi Node community, another possible reason behind the underlying token’s massive run lately could be related to the successful implementation of the protocol v19.9 upgrade and the approaching next one – v20.2, which should be completed by March 12.
PI continues to be the top performer from the larger-cap alts, surging by 16% daily to over $0.23. This is its highest price tag in roughly three months. The asset is now the 40th-largest, according to CoinGecko, with a market cap of over $2.2 billion.
Even the substantial number of unlocked tokens today (almost 21 million) couldn’t shake it off. However, the upcoming schedule shows that more similar days are ahead, which could lead to an upcoming correction.
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