Despite significant ecosystem progress, including protocol upgrades and major conference sponsorship, the price of Pi Network’s PI token continues to struggle. The project reports over 18.1 million users have completed KYC verification and 16.7 million have migrated to Mainnet, though user complaints about verification delays persist. As of the latest data, PI trades around $0.17, down 6% weekly, with rising exchange balances suggesting potential increased selling pressure.
The team behind Pi Network continues to announce updates for its ecosystem while its token price remains under pressure. Recent data shows over 18.1 million users have completed KYC verification, with more than 16.7 million Pioneers migrated to Mainnet.
The project emphasizes its core principle that one account represents one real human being. Nonetheless, multiple users continue to complain on X about problems with the required verification process.
The network has progressed through several protocol version upgrades this year, laying foundations for smart contract capabilities. A community member recently noted the deadline for migrating to version 23 was extended from May 15 to May 19.
Pi Network served as a sponsor for Consensus 2026, where its co-founders Chengdiao Fan and Nicolas Kokkalis spoke. Fan highlighted how Pi Network’s infrastructure and real-human identity system can support useful products in the AI era, focusing on coins that drive actual engagement.
Kokkalis’s speech, also centered on AI, addressed the challenges of maintaining trust and verifying real human identity as AI systems become more capable.
Despite these developments, PI’s price trades at around $0.17, representing a 6% weekly decline. Data indicates the total number of PI tokens held on centralized exchanges has reached almost 540 million, with over half on Gate.io.
This trend suggests investors are shifting tokens to exchanges, which can increase immediate selling pressure. The price remains well below $0.20 as the ecosystem expands.
