Pi Network (PI) Coin Price Prediction: PI/USD Forms Double-Bottom Pattern as KYC Deadline Nears

Pi Network's KYC deadline is nearing. The Pi Network (PI) coin, which is available only on HTX, was trading at $43.22 on Sunday.

The price of Pi Network’s IoU price, a token or coin that is promised or owed, is set for a big week as the grace period for Know Your Customer verification ends.

Pi Network’s KYC deadline is nearing

The Pi Network (PI) coin, which is available only on HTX, was trading at $43.22 on Sunday, a few points above the double-bottom point at $38.

According to the Pi Network’s developers, the KYC deadline for the pioneers will end on January 31. Verified pioneers hope that the deadline will not be extended again since it has already been postponed two times.

The extensions were because, while over 13 million pioneers were verified, only 8 million of them had transferred their coins to the mainnet. As such, the KYC verification will likely end if at least 10 million of these members have moved their coins to the mainnet.

The KYC verification is an important process since it is one of the three conditions that needs to happen before the mainnet launch. The other condition is that the network needs to have at least 100 mainnet-ready applications.

In the last update, the developers noted that there were about 80 apps, meaning that 20 more needs to be ready before the mainnet launch happens. The third condition on the external environment has already been met.

Therefore, the Pi coin price will likely surge if the developers confirm that the mainnet launch will happen this quarter. This launch will be important because it will let pioneers who have been mining the coin for over six years sell their holdings for fiat.