Pi Network has once again postponed the last date of the KYC verification process and disappointed its investors. After the postponement in November, December and January, additional time until 28 February was granted. This strengthened the possibility that the Mainnet launch could be postponed once again.
Pi Network The KYC process was postponed again
Pi Network developers announced that they have extended the deadline to 28 February to complete the KYC process. This development has been a great disappointment for the Pi community, which has long been waiting for the completion of the transition to the main network.
The KYC process was initially planned to be completed on 30 November 2023. However, he was later postponed to 31 December 2023 and then to 31 January 2024. Now it was given to the signal that the process could hang in March by giving additional time for one month.
Pi Network Is a new postponement for Mainnet?
The developer team says that the extension of this process will allow more users to complete the KYC verification. However, investors and analysts think that these postponements produce an excuse to delay the Mainnet launch of the Pi Network team.
Developers, despite the extension of the KYC process, continues to claim that the Mainnet launch will take place in the first quarter of 2025. However, users approach these statements with suspicion because Pi Network team does not keep their promises in the past.
Critical levels for Pi Coin price
In the last few months, the price of Pi Coin has lost a significant value. Pi Token has decreased by 57 percent since 2024, when it reached its highest level, and is currently traded at $ 42.75.
According to technical analyzes, Pi Coin fell below the 50 -day moving average and continued a decline trend. In addition, the bear flag formation by creating a potentially signaled.
If sales pressure continues, the Pi Coin price may decrease to $ 29.15, the lowest level of 2024. This level is about 31 percent below the current price level.
Risks for investors are increasing
The biggest concern of the Pi Network community is whether these postponement will cause the main network to be delayed again. The extension of the KYC process and the fact that more than 100 mainnet ready -to -apply application needs are still preparing the ground for a new postponement.
This uncertainty environment may continue to print the price of Pi Coin and lead to loss of confidence of investors. In the coming weeks, the Pi Network team will be the most important factor to determine the direction of the market.
