The Pi Core Team reminded Pioneers who have not yet migrated to Mainnet to review step three of the Mainnet checklist. The team urged users to ensure they have enabled two-factor authentication (2FA) for their Pi Wallet, calling it an essential requirement for migration.
This announcement follows ongoing reports of community members struggling to transfer tokens from the testnet to the mainnet. After the reminder, speculation grew within the Pi Network community about a possible major update.
Community Speculates on Upcoming Update
Following the post, several prominent community members fueled speculation about potential developments. Influencer Woody Lightyear asked on X if “a major update is on the horizon,” while another member, Notorious, declared that “something big is about to happen” and advised Pioneers to prepare.
One of the most anticipated updates among users remains a listing on a leading cryptocurrency exchange. Recently, CoinGape highlighted that Pi Network’s wallet update introduced “Binance Connect” and “Binance P2P” features, sparking further listing rumors.
In the meantime, US-regulated exchange Swapfone officially listed Pi Coin. The token also remains available on platforms including MEXC, OKX, Gate.io, and LBank.
Security Concerns Over Pi Wallet Access
Security concerns also surfaced this week. Influencer Dr. Altcoin addressed reports of compromised wallets and stolen passphrases, calling the issue “valid” and urging the Pi Core Team to strengthen protections.
He suggested introducing multi-factor authentication (MFA) for Pi Wallet access. According to Dr. Altcoin, requiring biometric or fingerprint verification after entering the passphrase would provide a critical safeguard against unauthorized access.
“Even if a passphrase is stolen, MFA would prevent outsiders from draining the wallet,”
he said, adding that the team should prioritize this feature to protect user funds.
Pi Network (PI/USDT) Shows Bearish Trend with Weak Momentum
Pi Network (PI/USDT) is trading at $0.4391, slightly below the 50-hour Exponential Moving Average (EMA) of $0.4434, signaling persistent bearish pressure. The price declined from highs near $0.51, followed by a short rebound to $0.47 on July 28, before sellers regained control and pushed it lower.
The Relative Strength Index (RSI), currently at 39.19, remains close to the oversold region, reflecting weak buying momentum and ongoing selling dominance. However, being near oversold levels could indicate the possibility of short-term stabilization if buyers step in.
Trading volume has also decreased significantly compared to earlier spikes, highlighting reduced market activity and weaker support for price movement. With the price holding below the Exponential Moving Average and low volume confirming limited participation, Pi Network continues to show a bearish outlook. A clear shift in momentum with stronger trading volume would be required for any potential upward reversal.
