In a recent announcement, Pi Network Coin has revealed an extension of its KYC (Know Your Customer) process and the mainnet transition until February 28, 2025. This news came just before the expected launch of the mainnet. Despite some uncertainty surrounding the timeline, the price of Pi Coin surged by 10% within a day.
What is the New KYC Deadline?
The Pi Network team explained that the new deadline aims to enhance accessibility for users. This extension allows users to transition to the mainnet without risking their Pi Coins.
Why Did the Price of Pi Coin Increase?
Following the announcement, there was a notable increase in the price of Pi Coin, which climbed nearly 10% to approach the $50 mark, resulting in a market valuation of approximately $3.38 billion.
As the mainnet launch nears, market speculation surrounding Pi Coin intensifies. Industry experts suggest that if the launch occurs in the first quarter of 2025, the price could soar to $100, whereas delays might bring it down to $28. Notably, users who fail to complete the KYC process will forfeit their coins, adding urgency to the situation.
- New KYC deadline extended to February 28, 2025.
- Price of Pi Coin increased by 10%, nearing $50.
- Market valuation reached $3.38 billion.
- Mainnet launch anticipated for the first quarter of 2025.
- Potential price volatility expected based on KYC completions.
The extension of the KYC process signals an effort to safeguard users while maintaining momentum for the upcoming mainnet launch. As developments unfold, stakeholders in the Pi Network will need to stay vigilant regarding price fluctuations and compliance requirements.
