Pi News: Pi Network Shares Mainnet Announcement, PI Coin Price Shows Minor Response

Key Takeaways:

• Pi Network has asked users to start the migration to start their KYC and mainnet migration.
• PI coin price had a minor reaction to the news.

NEW DELHI (CoinChapter.com) — Mobile-based crypto mining platform, Pi Network, shared an update regarding its much-awaited and often delayed Pi Network open mainnet launch.

In a tweet, the Pi Network team asked its users to file their KYC applications to allow the platform’s verifiers to review users’ application data. The Pi Network open mainnet launch has been a bone in the platform’s neck for some time now, with users still awaiting any launch date confirmation.

The Pi Network team also asked users to “remind” their security circle and referral team members to “start their KYC and Mainnet Migration process.”

However, several users complained of facing difficulties in completing the KYC process. One user stated that he could not get past the seventh step of the 10-step KYC process and that the Pi Network team has not helped despite several messages.

Another user complained about getting an “unexpected error” message during his KYC process over the past month.

Meanwhile, some users complained about not getting an invite for KYC. Pi Network founder Dr. Nicolas Kokkalis stated that the system might have marked some users as being associated with multiple fake accounts or other policy violations.

Kokkalis stated that the Pi Network team had, “unfortunately,” postponed applications of such users for a later date.

We are prioritizing getting people who have already submitted KYC to get fully reviewed and verified first. Thanks for your understanding patience and best regards

Nicolar Kokkalis assured users.

PI Coin Price Has Meek Response To Pi Network News

PI coin price failed to react strongly to the Pi Network news of an update regarding the open mainnet launch. On July 31, the Pi Network token price spiked 4.3% to reach a daily high near $25.87 before correcting.

PI coin price continued its horizontal movement. However, if the Pi Network token price builds up on July 31’s gains to start a rally, the PI coin price might rise to its 100-day EMA (blue wave) resistance near $27.

Moreover, breaking and consolidating above the immediate resistance level might help the PI coin price target the resistance near $29.5 before downside corrections pare gains.

Conversely, if July 31’s gains turn out to be a flash in the pan, the PI coin price might drop to the 50-day EMA (purple wave) support near $23.7. Failure of the immediate support level could force the Pi Network token price to test the support near $21.4 before recovering.

The RSI for the PI coin remained neutral, clocking at 58.68 on the daily charts.