*Pi Network Unveils AI-Powered KYC 🤖 – Whales Accumulate Amid Consolidation*
- *AI Integration*: Pi Network has integrated AI into its KYC process, significantly speeding up verification.
- *Community Event*: On Monday, Sign Protocol hosted the first Pi Network gathering in Seoul.
- *Market Behavior*: Despite a drop in Centralized Exchange (CEX) wallet balances, the PI token is holding steady above 0.3500, showing signs of consolidation.
*Investor Activity*:
A high number of PI token transfers in the past 24 hours suggests increased accumulation by investors.
*Price Action*:
PI has been consolidating above0.3500 for six straight days. Investor sentiment remains cautious following the rollout of AI-based KYC. Decreased CEX wallet balances and whale activity suggest that large investors are buying the dip.
*Fast-Track KYC Launched*:
Pi Network has introduced a *fast-track KYC feature*. Eligible users can now activate their Mainnet wallet *without waiting for 30 mining sessions*. However, this feature allows *wallet activation only*, not token transfers.
*Sign Protocol Partnership*:
[9/20, 12:40 PM] ChatGPT: At Monday's Seoul event, Ethereum-based Sign Protocol announced a partnership with Pi Network. Sign’s CEO, Xin Yan, and a Pi Network co-founder held a discussion at 10:30 GMT.
*Whale Accumulation*:
According to PiScan data, there's been a *net outflow of 1.08 million PI tokens from CEX wallets*, indicating accumulation. In four out of the five highest-volume transactions, whales withdrew nearly *3.40 million PI tokens*, showing rising demand.
*Trend Reversal Potential*:
Whale activity typically signals a potential trend reversal.
With PI consolidating between *0.3220 and0.4000*, a breakout above *0.4000* could push the price to *0.5032* (the closing price on June 22).
The Accumulation/Distribution line has improved from *-289 million to -283 million*, further confirming reduced selling pressure.
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