The post Pi Network Coin Price Surges As Key Deadline Nears appeared on BitcoinEthereumNews.com.

Pi Network price rose for six consecutive days ahead of a key deadline scheduled for later this month. Can the Pi Coin sustain its momentum and retest its October high of $100? Pi Network KYC Grace Period Is Ending The Pi Coin IoU token has staged a strong recovery, rising to $80, which was 175% above its lowest level in September. This rally happened as the soaring cryptocurrency prices raised the expectation that its mainnet launch would happen in December. Pi Network also surged ahead of the November 30th deadline of ending the grace period of the Know Your Customer (KYC) verification process. The KYC process hopes to verify millions of pioneers who have been mining the coin in the last six years and removing bots. This verification is an important stage towards the mainnet launch, which is anticipated to take place in December. When it happens, all pioneers will finally be able to swap their tokens for fiat currencies and stablecoins. Pioneers who don’t complete their verification will lose all their mined coins. The KYC is part of three things that need to happen before the Pi Network mainnet launch happens. The other one is the existence of a vibrant ecosystem, which is expected to give the Pi coin utility.  Additionally, the developers hinted that the mainnet launch or the move to the open network would happen when market conditions are conducive. This criterion has been met because most cryptocurrencies are in a strong rally and regulations are expected to be friendly under the Trump administration.  Pi Coin Price Rally Could Continue Pi Coin is an IoU that is not affiliated with the real project and is only listed in HTX. It is often seen as a proxy for the coin, which explains why its price has jumped in…

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Filed under: News - @ November 23, 2024 1:19 am