Pi Network development team releases ecosystem data on the first anniversary of mainnet launch, showing significant growth in migrated users, KYC completion rates, and merchant acceptance, with technical indicators also indicating potential bullish signals. However, PI tokens have fallen more than 20% from the February 15 high of $0.2067, down over 90% from their all-time high.
Mainnet Anniversary Report: Ecosystem Metrics Show Significant Growth
(Source: Pi Network)
In a statement posted on X, Pi Network developers emphasized several growth metrics over the past 12 months:
Mainnet migrated users: up 60% year-over-year, surpassing 16.2 million
KYC completed users: over 17.4 million, with developers exploring AI features to accelerate verification
Network nodes: increased to over 420
Merchants accepting Pi Coin: doubled from about 70,000 last year to over 148,000, an increase of more than 100%
Local e-commerce users: exceeded 2.1 million
The developers mentioned considering launching a “KYC as a Service” feature, which would position Pi Network in a competitive identity verification race alongside Sam Altman-led projects like World and Humanity Protocol. Analysts believe that as AI application demand expands, the on-chain digital identity market potential will continue to grow.
Co-founders Nicolas Kokkalis and Chengdiao Fan listed future priorities including enhancing network utility, attracting external investment, increasing verifier rewards, and advancing the implementation of KYC as a Service.
However, the statement did not mention token burn mechanisms, further decentralization plans, or efforts to list on more mainstream exchanges—areas some analysts see as critical gaps affecting PI’s long-term valuation.
Technical Analysis: Hammer Pattern and Key Support Levels
(Source: TradingView)
From the daily chart, Pi Network recently formed a small hammer or dragonfly doji candlestick pattern, characterized by a long lower shadow and small real body, which is a common potential bullish reversal signal in technical analysis.
Currently, PI token price is slightly above the Super Trend indicator, indicating short-term bullish dominance. The token also remains above the strong reversal point of the Murray Math Line tool, providing technical support in the short term.
If the bullish pattern is confirmed, the most optimistic technical target is around $0.2067, representing approximately a 30% increase from the current level of $0.1615, aligning with this month’s high.
Frequently Asked Questions
Can user growth data directly support a price increase for Pi?
User growth and price movement are not directly mechanically linked. Increased migrated users indicate higher ecosystem participation, and more merchants can boost actual demand for Pi Coin, but ultimately, price is determined by market supply, demand, and liquidity. The token burn mechanism and listing on additional exchanges are key uncertainties, as developers have not yet provided clear plans, which remain major market factors.
What is the market significance of Pi Network’s consideration of launching KYC as a Service?
If successfully implemented, KYC as a Service would open Pi Network’s identity verification infrastructure to third parties, directly competing with projects like World (Worldcoin) and Humanity Protocol. This shift could add practical value to Pi’s valuation logic, but it remains in the consideration stage with no clear launch timeline.
What are the key technical supports and target prices for PI tokens?
Technical analysis suggests short-term support around the weekly low of $0.1564. If bullish momentum continues, the upside target is approximately $0.2067, about 30% above current levels. However, given that the token is still in a deep correction zone over 90% below its all-time high, any technical rebound signals should be cautiously evaluated within the broader market environment.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pi Network Agreement 23 Targets the Institutional Market, Smart Contracts, and RWA Tokenization to Launch in Early May
Pi Network officially went live with Protocol 23 on May 18, bringing smart contracts, real-world asset tokenization, and the AI App Studio, enabling Pi to transform from a payment token into a programmable blockchain infrastructure. The protocol covers four major functions, similar to Ethereum, and is expected to attract institutional investors. The upgraded node milestones signal market confidence and may affect Pi’s price performance.
MarketWhisper16h ago
Pi Network 18 million users complete KYC, and 26.5 million PI are issued to verifiers
Pi Network distributes 26.5 million PI tokens to more than 1 million community members who have completed KYC verification, to accelerate user identity verification and strengthen the decentralized model. 18 million already-verified users have laid the groundwork for the ecosystem’s development, but the key lies in how to convert these users into active participants. With the protocol upgrade, Pi Network is moving toward the open network phase, and smart contract support signals richer application scenarios.
MarketWhisper04-14 05:07
Pi Network price hits a new 7-week low as a wave of 60 million token unlocks comes in
Pi Network's native token PI fell to $0.165 in April, hitting a 7-week low and leaving market sentiment weak. The unlock peak will release more than 60 million PI, adding downward pressure. Despite the core team recently publishing technical updates, it failed to improve market confidence and instead drew community criticism due to KYC access issues and the ongoing slide in price. Increased future supply could further drive prices lower.
MarketWhisper04-14 02:50
Pi Network Distributes 26.5M PI to 1M KYC Validators
Pi Network has taken another step forward in building its ecosystem. The project recently distributed 26.5 million PI tokens to more than 1 million KYC validators.
These rewards were given to users who helped verify identities on the network. This process is important. Because it ensures that
Coinfomania04-13 13:30
Pi Network PIRC baseline protection mechanism sparks controversy, implying a “quasi-stablecoin” logic
Pi Network member Daniel F raised a logical contradiction in the PIRC token design, noting that if it has a 23.8% floor protection, it would need to behave like a stablecoin, which conflicts with its high volatility on CEX. This floor is based on Pi’s price calculations; if Pi itself fluctuates significantly, it will be unable to effectively protect holders. Daniel emphasized the importance of transparency, but the project team did not respond to it, leading the community to continue speculating about the reasons for its silence.
MarketWhisper04-13 02:23
