Pi Network’s KYC Revolution: Can It Salvage the Flagging Token?

Pi Network announced a major protocol upgrade from Version 19 to 23, marking a pivotal step in its journey toward becoming a fully verified and compliant blockchain. The update, based on the Stellar v23 framework but customized for Pi Network, embeds Know-Your-Customer (KYC) verification into the protocol itself, shifting responsibility from a centralized authority to a decentralized, community-driven model [1]. This move aims to streamline the verification process, which has historically been a barrier for users, and enhance the network’s appeal to third-party services and businesses that prioritize compliance [2]. Nearly 15 million accounts have already undergone KYC verification, with the Core Team emphasizing that the upgrade will help the network meet regulatory standards and expand its utility for real-world applications [2].

The phased rollout of the upgrade may lead to temporary network outages, but the team has pledged to communicate these disruptions in advance to minimize impact. Partners and third-party services are being encouraged to prepare for the transition, which represents a strategic shift in Pi Network’s development roadmap [1]. Despite these advancements, Pi Network’s native token, PI, has struggled in recent months. After a brief rebound to $0.40 in late August, the token has since retreated to below $0.35, trading just 5% above its all-time low of $0.33 [1]. The token has lost over 88% of its value since reaching an all-time high in late February 2025. With over 12.3 million tokens scheduled to unlock on September 6 and another 9.9 million on September 11, market participants remain cautious about further downward pressure on the asset [1].

Chainlink (LINK) has shown signs of strengthening in September, with institutional activity and whale accumulation reaching an all-time high. According to on-chain data from Alphractal, wallets holding between 100,000 and 1 million LINK, as well as those holding over 1 million tokens, have surpassed 600 addresses, a new record for the altcoin. Whale activity has been particularly notable, with large holders acquiring 1.25 million LINK in early September, signaling growing confidence in the network’s long-term value [3]. Trading volume has also surged, averaging $1–$2 billion daily, significantly higher than the $500 million average in July [4]. The current price of $23 is well above the realized price of approximately $15.1, suggesting a strong support level for the token. Analysts have cited Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a major driver of this momentum, with the protocol facilitating over $130 million in cross-chain transfers in a single day—$106 million of which came from transactions related to World Liberty Financial (WLFI), a DeFi project linked to former U.S. President Donald Trump [4].

Meanwhile, Remittix (RTX) has emerged as a compelling alternative in the altcoin space, particularly among investors seeking projects with real-world utility. The project has raised over $23.7 million in its presale, selling 642.7 million tokens at a price of $0.1030 each. Analysts highlight its unique value proposition, including plans for a Q3 2025 beta wallet that will enable users to send cryptocurrencies like Bitcoin and Ethereum to 30+ traditional bank accounts globally. With real-time FX conversion, support for 40+ crypto and 30+ fiat currencies, and a mobile-first design, the Remittix wallet aims to bridge the gap between digital assets and mainstream finance [6]. Unlike many low-cap tokens, Remittix’s model offers tangible functionality in cross-border payments, a sector where existing cryptocurrencies like Pi Network and Litecoin have struggled to make a significant impact. As the project prepares for listings on BitMart and LBANK, it is expected to gain further exposure and liquidity, reinforcing its position as a potential high-growth opportunity in the DeFi ecosystem [6].