Pi Network has taken a big step to strengthen its ecosystem by completing full KYC verification for 3.36 million users. This follows the launch of a new AI-based system that reviews pending KYC cases. Despite this progress, the Pi token’s price continues to fall, raising questions about the project’s stability.
Pi Network: From Peak to Bottom
Pi Network was once one of the fastest-growing names in crypto. In February, its token hit an all-time high of $2.98, with $3 billion in daily trading volume and a market cap near $20 billion.
Since then, its value has dropped sharply. The token now trades around $0.20, ranking 49th on CoinMarketCap, with daily volume below $13 million. Many early users, called Pioneers, are frustrated and uncertain about what comes next.
Supporters have raised concerns about leadership and transparency. Some say the core team lacks a clear roadmap and keeps control too tightly held, which limits decentralization and growth. Adding to the tension, reports surfaced that the team sold 1.2 million Pi tokens, possibly to secure funds.
Pi Team Continues Building
Despite criticism, the Pi team continues to develop its network. The goal remains to build a functional Web3 ecosystem with real users. So far, 2.69 million verified users have migrated to the mainnet, showing steady engagement even as prices fall.
Pi Network reported that 3.36 million users have now passed full KYC, after the new system reevaluated 4.76 million tentative cases. The update shows that, while market momentum has slowed, the project is still pushing forward on its technical foundation.
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