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- Pi Network verified 3.36M users using a new AI-based KYC system.
- The Pi token has fallen from $2.98 to around $0.20 since February.
- Despite price woes, 2.69M users have migrated to the mainnet, showing continued activity.
Pi Network has achieved a major milestone by completing full KYC verification for 3.36 million users. The process was accelerated by the rollout of an AI-driven review system designed to clear backlogged applications. This development marks a critical move toward expanding the network’s real-user base — a key element of Pi’s long-term vision for a decentralized ecosystem.
However, while KYC progress signals growth in infrastructure and compliance, Pi’s market performance tells a different story.
From Peak Hype to Price Collapse
Earlier this year, Pi Network was among the most talked-about crypto projects. In February, its token reached an all-time high of $2.98 with nearly $3 billion in daily trading volume and a market cap close to $20 billion. Today, that optimism has faded.
Back in February, $Pi was the top traded coin worldwide. $Pi's marketcap reached almost $20B coins with a daily trading volume of more than $3B for several days in a row. Nowdays, nothing is left from the shinny time of this project. $Pi was making headlines in many news… pic.twitter.com/eyTn3a9qMb
— Pi Crypto News (@pinetwork_world) October 23, 2025
Pi now trades near $0.20, ranking 49th on CoinMarketCap with daily volumes under $13 million. Many early adopters, known as Pioneers, have voiced frustration over the project’s unclear roadmap and limited communication. Concerns have also grown after reports that the team sold 1.2 million Pi tokens, allegedly to raise funds — a move that added to doubts about transparency.
Continued Development Despite Market Pressure
Despite criticism and price declines, the Pi Network team continues to build. The project’s focus remains on creating a real-world Web3 ecosystem, and progress is visible. Out of the verified users, 2.69 million have already migrated to the mainnet, showing that engagement persists even amid volatility.
Also Read: Pi Network Unveils AI-Powered App Studio Upgrade to Boost Pi Coin Utility
The completion of millions of KYC verifications demonstrates the network’s ability to scale and refine its systems — a key sign that Pi isn’t standing still. Whether this renewed push can restore confidence and revive the token’s momentum remains to be seen.
Pi Network’s future hinges on execution. Completing 3.36 million KYC verifications proves strong technical progress, but restoring market trust will require transparency, leadership, and tangible ecosystem growth. For now, Pi’s foundation looks stronger — even if its price doesn’t.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
