Pi Network comeback stalls as KYC update meets weak PI price

Pi Network has returned to market attention after its team shared a new Know Your Customer update. 

The project said more than 18.1 million users have passed native KYC checks, while over 16.7 million Pioneers have moved to Mainnet. The update gives the network a new user-growth figure at a time when PI is trying to recover from recent price weakness.

The team has often linked KYC to its “one person, one account” model. The goal is to limit bots, fake users, and duplicate accounts before balances move to Mainnet. That system remains central to Pi Network’s pitch as a large identity-verified blockchain community.

You might also like: Square reaches 1m Bitcoin-enabled merchants in U.S. rollout

Tentative KYC keeps user concerns alive

The latest update also addressed users stuck in Tentative KYC. The team said this status “does not mean rejection”, but means some accounts need more checks before approval. That claim may ease some concerns, but it does not remove the long wait faced by users who say they have remained in that status for months.

Pi Network has also been working on AI-assisted verification tools. A January update said millions of Pioneers had been unblocked for Mainnet migration, while palm print checks were being tested as a possible extra security method. The project said such tools could support liveness checks, account recovery, password resets, and other safety flows.

PI price shows a limited rebound

The KYC update arrived while PI’s market setup remained weak. crypto.news price data showed PI (PI) trading near $0.172, with a market cap of about $1.79 billion and 24-hour volume near $13.82 million. The token was ranked #50 by market cap, but it was still down about 4.03% over seven days.

This means the latest recovery has not yet changed the wider trend. PI is still far below its February 2025 all-time high of $2.99. crypto.news data also shows the token remains above its February 2026 low of $0.131244, leaving traders focused on whether the market can hold the current range.

Unlocks and utility remain key tests

Recent crypto.news coverage warned that PI still faces selling pressure from token unlocks. A May 11 analysis said more than 174 million previously locked PI tokens were expected to enter circulation before the end of the month. It also said PI could revisit the $0.15 area if weakness continues.

Other related updates show why traders remain divided. crypto.news reported in April that Pi Network completed a mainnet v21 upgrade and launched a testnet RPC server to help developers test apps before mainnet deployment. Those upgrades may support future use, but price data shows PI still needs stronger demand to turn KYC progress into a lasting market recovery.

Read more: Japan Open Chain eyes B2B payments as EJPY plan takes shape