With the continuous development of blockchain technology and the cryptocurrency market, Pi Network, as a crypto project featuring lightweight mobile phone mining, is also entering a critical period of transformation. This article will provide you with a comprehensive summary and analysis of project development, price and market performance, application scenarios, exchange listing progress, and the recently-concerned identity verification (KYC) issue.
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1. Introduction to Pi Coin and Pi Network
Pi coin was launched in 2019 by graduates from Stanford University. Its goal is to allow more users to easily participate in cryptocurrency mining through mobile phones and lower the threshold for participation. Compared with traditional mining methods, Pi Network adopts a low-energy consumption mechanism and uses the Stellar Consensus Protocol (SCP) to implement network operation, attracting a large number of early users to participate. As the project gradually moves from closed testing to public operation, its ecosystem is gradually expanding.
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2. Mainnet Launch and Market Price Fluctuations
Mainnet Open:
According to the latest news, Pi Network officially opened its mainnet on February 20, 2025, marking an important milestone in the transition from the testing phase to public operation and the beginning of entering a broader application and trading environment.
Price and market performance:
Since the launch of the independent network, the price of Pi coins has experienced large fluctuations. It was reported that the price reached US$2 at the beginning of listing, but then briefly fell to US$0.60, and recently rebounded to around US$1.59. According to data from some exchanges, the current price of Pi coin is around US$1.78, with a market value of billions of dollars, and the 24-hour trading volume remains at an active level. This price fluctuation reflects the market's different views and speculative sentiments on the future development of the project.
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3. Application scenarios and exchange listing progress
Application scenario expansion:
In addition to being an investment target, the application scenarios of Pi coins are also expanding. Recently, there have been reports that Pi coins have begun to appear as a means of payment in real estate transactions in the United States, indicating that its practical application potential in daily life is being gradually developed.
Exchange listing and community support:
Pi coins have been listed on many exchanges including OKX, Pi.com and MEXC. In addition, according to Binance community voting data, Pi Network received up to 88% support, paving the way for listing on more mainstream exchanges in the future. These developments will help improve the liquidity and market acceptance of Pi coins.
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4. Identity verification (KYC) issues and risks of clearing unauthenticated coins
A recent piece of news that has attracted much attention stated that the Pi Network team plans to clean up users who have not completed KYC (identity verification) in the next few days. The main contents include:
Official announcement highlights:
According to some sources, Pi Network has made it clear that users who fail to complete identity verification by the specified deadline (some reports indicate January 31, 2025) will risk losing most of the mined Pi coins.
Grace period arrangement:
To prevent users from losing assets due to negligence, the official also provides a final 14-day grace period. During this period, users who have not completed the verification can still complete KYC to retain their Pi coins; but once the grace period ends, users who have not completed the verification may face the risk of having their Pi coins deleted.
Suggestions for investors and users:
In view of the above situation, it is recommended that all users who have not completed KYC certification should complete the verification process as soon as possible to ensure that their assets are not affected. At the same time, investors should also pay close attention to official announcements, keep abreast of the latest developments, and make investment decisions prudently.
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V. Conclusion
Since the project was launched in 2019, Pi Network has gradually developed from an innovative project with mobile phone mining as its highlight to a crypto ecosystem with diverse application scenarios and wide market attention. With the progress of the mainnet launch and exchange listing in 2025, Pi coin has experienced significant fluctuations in price and market performance; and the recent cleanup of users who have not completed KYC certification has reminded all 66
Participants must take identity verification seriously. In the future, as application scenarios continue to expand and exchange support increases, Pi coins will have both development potential and risks. Investors should participate prudently and pay attention to the latest official announcements based on their own risk tolerance.