Pi Network’s IoU Price Awaits a Crucial Week as KYC Deadline Nears

Pi Network’s IoU price, a token or coin that is promised or owed, is set for a pivotal week as the Know Your Customer (KYC) verification grace period comes to an end. The Pi Network (PI) coin, available exclusively on HTX, was trading at $43.22 on Sunday, slightly above the double-bottom point at $38.

KYC Deadline and Its Impact on Pi Network

According to Pi Network’s developers, the KYC deadline for pioneers is nearing, with an end date of January 31. Verified pioneers hope that the deadline will not be extended again, as it has already been postponed twice. The extensions were due to the fact that, while over 13 million pioneers were verified, only 8 million of them had transferred their coins to the mainnet.

The KYC verification process is a crucial step, as it is one of the three conditions required before the mainnet launch. The other conditions include having at least 100 mainnet-ready applications and a favorable external environment. With 80 apps already available, 20 more need to be ready before the mainnet launch can occur.

What to Expect from the Mainnet Launch

If the developers confirm that the mainnet launch will happen this quarter, the Pi coin price is likely to surge. This launch will be significant, as it will allow pioneers who have been mining the coin for over six years to sell their holdings for fiat.

In preparation for the Open Network in Q1 2025, Pi Network has made Mainnet Pi apps accessible through the Ecosystem Interface on the Pi Browser. An initial 20 Pi apps are included, with more to come in the future.

Pi Network Price Analysis

Historically, most tap-to-earn tokens, including Pi Network, have dropped after their airdrop. However, the daily chart shows that the Pi coin price has formed a double-bottom pattern, a highly popular bullish reversal sign. If the developers confirm the mainnet launch, the Pi Network price may jump by over 110%.

On the other hand, another deadline extension could lead to a strong breakdown, potentially to $30, the lowest swing in September.

Key Points to Consider:

  • The Pi Network’s IoU price is set for a crucial week as the KYC deadline nears.
  • The KYC verification process is a key condition for the mainnet launch.
  • The mainnet launch will allow pioneers to sell their holdings for fiat.
  • The Pi Network price may jump by over 110% if the mainnet launch is confirmed.

It is essential to note that Pi Network’s IoU is not affiliated with the real Pi project. Instead, it is an ERC token available only on HTX and is often seen as a proxy for the main project.

Stay updated on the latest cryptocurrency news and market trends on Global Crypto News.

Post Views: 0