Pi Network comeback stalls as KYC update meets weak PI price

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Pi Network comeback stalls as KYC update meets weak PI price

Pi Network has returned to market attention after its team shared a new Know Your Customer update. 

Summary

  • PI reclaimed top-50 attention as KYC progress met weak price action and fresh supply concerns.
  • Over 18.1 million users passed KYC, but tentative checks still keep some Mainnet migrations pending.
  • Crypto.news data shows PI near $0.17, with weekly losses still keeping traders cautious for now.

The project reports over 18.1 million users have completed identity verification, and more than 16.7 million ‘Pioneers’ have transitioned to the main network. This update highlights user growth as the project works to regain momentum after a recent drop in price.

The team frequently connects Know Your Customer (KYC) procedures to their principle of one person having only one account. This is done to prevent bots, fake accounts, and multiple accounts from being created before Pi Network’s balances become transferable. This system is a key part of what makes Pi Network unique as a blockchain community where users are verified.

Tentative KYC keeps user concerns alive

The recent update also helps users who are currently in “Tentative KYC” status. The team clarified that this doesn’t mean their application is denied, but rather that some accounts require additional verification before being approved. While this explanation might reassure some, many users are still frustrated by the lengthy wait – some have been stuck in this status for months.

Pi Network is developing AI tools to improve security and make it easier for users to join the Mainnet. Recent updates revealed that millions of users have been cleared to move to the Mainnet, and the team is testing palm print verification as an additional security measure. These tools could also help with things like confirming users are real (liveness checks), recovering accounts, and resetting passwords.

PI price shows a limited rebound

Despite a generally sluggish market, PI was trading around $0.172. According to crypto.news data, its market capitalization was approximately $1.79 billion, with $13.82 million traded in the last 24 hours. While ranked #50 by market cap, the token had decreased by roughly 4.03% over the past week. This update came as PI was undergoing a KYC process.

While the recent price increase is positive, it hasn’t reversed the overall downward trend. The token is still significantly below its peak value from February 2025 ($2.99), but remains above its low from February 2026 ($0.131244). Traders are now watching to see if the price can stay within its current trading range.

Unlocks and utility remain key tests

Recent reports from crypto.news indicate that Pi Network’s token price may continue to fall due to the release of previously locked tokens. An analysis on May 11th estimated that over 174 million Pi tokens would become available for trading before the month’s end, potentially pushing the price back down to around $0.15 if selling pressure persists.

Recent developments highlight the differing opinions among traders regarding Pi Network. In April, crypto.news reported that Pi Network finished upgrading to mainnet v21 and introduced a test server for developers to try out applications before they’re fully launched. While these improvements could be beneficial in the future, current price trends suggest Pi Network needs increased interest and demand to ensure that completed KYC verifications translate into a sustained positive change in the market.

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2026-05-13 12:45