The Pi Network has announced a significant milestone in its mainnet migration, unblocking approximately 2.5 million user accounts that were previously stalled due to enhanced security and compliance checks. This update addresses long-standing community criticism regarding delayed onboarding and opaque KYC procedures.
The Core Team clarified that the issues were not uniform, requiring different technical fixes for various user groups. The unblocking and migration process will continue in batches. Additionally, over 700,000 new users will soon be eligible to submit KYC applications for the first time. Eligible users are encouraged to complete KYC promptly to prepare for future migration phases.
This development is part of Pi Network's broader push to enhance real-world utility following its recent open mainnet migration. The project, which launched in 2019 and boasts over 50 million users, emphasizes mobile-first, accessible cryptocurrency mining. Platforms like Mobix are now enabling Pi payments for goods such as gadgets and vehicles, particularly in markets like Nigeria, aiming to improve financial inclusion and reduce cross-border transaction friction.
Concurrently, the PI token is experiencing market volatility. The price is down 7% over the past week, trading around $0.1583. Analysts note a descending channel pattern on charts, with key resistance near $0.175-$0.180. A break above could target $0.21 or even $0.25, while support lies at $0.150-$0.152. Market concerns are partly driven by upcoming token unlocks, with an average of nearly 7 million PI tokens scheduled for daily release over the next month, including a 24 million token unlock on February 13.
