The Pi Network team has announced a significant technical upgrade that has more than doubled the speed of user migration to the Mainnet blockchain. This development is expected to accelerate the project's progress towards full decentralization, potentially reaching the ambitious target of 10 million Pioneers sooner than anticipated.

However, despite the positive news, the market's response has been lukewarm. The IOU for the Pi coin has seen a modest increase of just over 5% against the dollar in the past week, trading at $42.18. This lackluster performance suggests that the market remains skeptical about the project's long-term viability, despite the technical advancements.

While the Pi Network team continues to work towards their goal, it remains to be seen whether these improvements will translate into substantial user growth and market acceptance. As the industry continues to face regulatory scrutiny and market volatility, the path to success for projects like Pi Network remains fraught with challenges.