Quickly understand the history and background of various well-known coins

Pi Network Extends KYC Deadline, Pi Coin Surges 10% Ahead of Mainnet Launch

Coin WorldFriday, Jan 31, 2025 1:32 am ET

1min read

The Pi Network, a decentralized digital currency project, has extended its Know Your Customer (KYC) deadline to February 28, 2025. This extension, the third of its kind, comes just a day before the highly anticipated Mainnet launch, originally scheduled for January 31, 2025. Despite the extension, the price of the Pi coin has surged by 10% in a single day.

The Pi Network announced the extension in a recent blog post, stating that the grace period for the KYC update and migration process has been extended until February 28, 2025. This extension is aimed at ensuring fairness and providing everyone with an opportunity to join the Pi Network without losing their Pi coins. The new deadline for the grace period will not change the timeline for the Open Network launch, which is still set for Q1 2025.

However, the Pi Network has clarified that any Pi holders who fail to complete their KYC and migration by the new deadline will lose their coins. Only the Pi mined within the six months leading up to the migration will be kept. Older balances will be lost, so users need to act quickly to secure their holdings before the deadline ends.

Despite the extended grace period, Pi Coin has seen a significant price jump. In just 24 hours, Pi Coin's price increased by 10%, reaching nearly $50, with a market cap of $3.38 billion. As the mainnet launch nears, Pi Coin traders are closely monitoring key price levels. If the mainnet launch occurs before the end of Q1, there's potential for Pi Coin to hit $100. However, if delayed, it may see a bearish decline towards $28.

With the deadline extension, Pi holders have a little more time to secure their coins, but they should act quickly to avoid losing them. The Pi Network's extension of the grace period demonstrates its commitment to ensuring that all users have the opportunity to participate in the Pi Network without losing their Pi coins.

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.