coin price drops further: Users have been told by the Pi Network to finish the mainnet migration and their KYC (Know Your Customer) verification by March 14, 2025. The price of the Pi currency has dropped precipitously since this news, which has alarmed investors.
coin price drops further, The data states that during the past 24 hours, the Pi Network’s trading volume has dropped by 24.08%, while its price has dropped by 2.34% to $1.38 per token. The market is clearly showing signs of weakness, as evidenced by the 20.43% decline in the Pi cryptocurrency over the past seven days.
On the occasion of the Pi Network’s sixth anniversary, a significant milestone for the network, the migration deadline has been established. In order to avoid losing the majority of their Pi tokens, users have been told to finish their KYC and mainnet migration by 3:00 AM Pakistan time on March 14, 2025. The only safe tokens will be those that were mined up to six months before to the migration.
Users’ Pi cryptocurrency will be moved from the testnet to the official blockchain (mainnet) as part of the Pi Network migration, allowing them to spend it on platforms other than the Pi app. The move will make it easier for Pi tokens to be incorporated into the larger financial system, claims Coin Park CEO Thangapandi Durai.
Pi Network has reportedly asked its users to complete KYC since it guarantees that users are authentic people, according to News18. Users’ unconfirmed tokens could be forfeited if they don’t finish KYC in the allotted period. Pi holders will be able to interface with external blockchains and possibly cryptocurrency exchanges after the transfer is finished by using their tokens for mainnet transactions.
Pi Network may soon be listed on Binance, according to rumors stoked by the company’s new token listing mechanism. Binance has not yet verified this, though, and has stated that Pi Network must adhere to stringent security, legal, and user engagement requirements.
Pi Network may potentially have difficulties due to the US’s murky cryptocurrency legislation, particularly in light of President Donald Trump’s suggestion of more stringent rules during his crypto summit. Stricter laws may have a detrimental effect on Pi Network’s acceptance and appeal.
coin price drops further, Though the ambiguity may postpone institutional trust and exchange listing, Pi Network’s KYC compliance and progressive mainnet migration may bring it into conformity with regulatory criteria. For small initiatives like Pi Network to stay out of trouble with the law and establish their position in the cryptocurrency market, they will have to manage the constantly shifting laws.
Please take note that this is not financial advice; rather, it is merely a news item that gives information about the state of the market.