Pi Network Price Soars 28% Following KYC Milestone That Enhances Investor Confidence

Price Surge: The Pi Network price has increased by 28.74% in the past week, driven by positive investor sentiment and significant progress in KYC verification and network migration.

KYC and Migration Updates: Over 3.36 million new users have completed KYC, with a total of 2.69 million accounts migrated, although the core team cautions that migration is not yet complete.

Community and Market Confidence: A strong majority of Pi investors (88%) are bullish, and derivatives data shows rising confidence, with increased open interest and a positive funding rate indicating more traders are taking long positions.

Future Potential and Risks: While the Pi Network faces challenges such as lack of listings on major exchanges and high token unlock rates, successful completion of migration and decentralization efforts could significantly boost its market position.