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Pi Network Deadline Nears as Users Face KYC and Migration Hurdles
The crypto market is witnessing a crisis unfold at the hands of Pi Network, which is now just days away from its March 14 deadline for migrating tokens to the mainnet. The platform’s inability to resolve the ongoing issues with Know Your Customer (KYC) verification and token transfer has left thousands of users in limbo.
The situation has taken a turn for the worse as investors are struggling to complete the KYC process, which is now critical since the deadline is fast approaching. Many have reported that their accounts remain unverified, despite following all necessary steps, further fueling frustration within the community.
As Pi Network’s lack of communication continues, it’s no surprise that the market has responded negatively. The price of Pi Coin has dropped by more than 16% in just a week and shows little signs of recovering, with many analysts predicting further declines if immediate action is not taken.
Pi Network’s inability to resolve these issues may have severe consequences for its users. Those who fail to migrate their tokens before the deadline will suffer significant losses, losing most of their accumulated value.
It remains unclear whether Bybit’s CEO labeling Pi Network a scam will impact Binance’s listing decision, which has yet to be confirmed. The silence from both parties only adds to the uncertainty, further eroding confidence in the project.
To change the course of this downward spiral, Pi Coin must break through the resistance level at $1.74 and then climb even higher. If not, a bearish trend could push it as low as $0.99 or $1.20.
The current impasse is a stark reminder that the cryptocurrency market can be volatile, and even the most promising projects are not immune to turmoil.
Source: https://crypto-economy.com/pi-network-deadline-nears-as-users-face-kyc-and-migration-hurdles/
