Pi Network Upgrades for KYC Control Amid Price Stagnation

Pi Network, the mobile-based cryptocurrency project, is preparing to implement a major protocol upgrade from Version 19 to Version 23, as disclosed by the project’s Core Team. The update is based on the Stellar v23 protocol but has been customized to meet Pi Network’s unique requirements, with the aim of enhancing user control and introducing new functionalities such as decentralized Know-Your-Customer (KYC) processes. This move is expected to improve account verification and compliance, addressing a long-standing issue for users who have faced difficulties in completing identity verification steps [3].

The new version will allow Pi Network to maintain KYC verification at the protocol level while also enabling users to opt for third-party verification services. The team emphasized the importance of KYC for network integrity, regulatory compliance, and readiness for integration with services that require identity checks. Currently, Pi Network has verified approximately 15 million users, a key milestone in its journey toward broader adoption [3].

The upgrade will be rolled out in phases, including Testnet1, Testnet2, and eventually the Mainnet. During this transition, the network may experience temporary outages. The team has pledged to inform the community in advance to minimize disruption and allow partners and third-party services to prepare accordingly [3]. Despite the technical advancements, the upgrade has yet to translate into a significant boost for the price of Pi (PI), which continues to trade below $0.35 as of the latest data [2].

Pi Network’s native token, PI, has struggled in recent months, hitting an all-time low of $0.33 on August 26 before staging a brief rebound. However, the recovery was short-lived, and the token has since fallen back below $0.35, remaining just 5% above its historical low. The coin has also declined by over 88% from its peak in late February 2025, which reached $2.90 per coin [1].

One of the reasons cited for the token’s underperformance is the lack of significant demand to support a substantial price increase. Analysts have highlighted that for Pi to reach $10 or even $100, it would need to achieve returns of 2,800% and 29,000%, respectively, from its current level [1]. Prediction platforms such as CoinCodex do not project Pi reaching these levels anytime soon, estimating that the token will remain below $10 even by 2050 [1].

Despite the price stagnation, Pi Network continues to make quiet progress in its infrastructure and community development. The project has expanded its node network to include Linux support and is working on a decentralized identity system, which could help attract traditional investors. Additionally, a firm named Valour is preparing to launch a Pi Exchange-Traded Product (ETP), allowing investors to gain exposure to Pi through regulated stock markets. This could help bridge the gap between Pi’s existing community and a broader investor base [1].

The project’s user base remains one of its strongest assets, with over 65 million users spread across more than 200 countries [1]. This extensive user base, combined with ongoing technical developments such as the Linux node release and upcoming protocol upgrades, suggests that Pi Network is taking a long-term approach to building a sustainable and compliant ecosystem. However, whether these efforts will be enough to translate into meaningful price appreciation remains uncertain.

Source:

[1] Can Pi Network Price Hit $100? (https://coinpedia.org/news/can-pi-network-price-hit-100-2/)

[2] Pi Network Adopts Stellar 23 With Little Market Impact (https://www.cointribune.com/en/pi-network-adopts-stellar-23-with-little-market-impact/)

[3] Massive Pi Network Update Drops: What Every PI User ... (https://cryptopotato.com/massive-pi-network-update-drops-what-every-pi-user-needs-to-know/)