Pi Network Shifts to Email Verification: A Safer Future?

Today's Pi news has been exciting as there have been updates regarding the migration process and also some bullish predictions.

Today's Pi news has been exciting as there have been updates regarding the migration process and also some bullish predictions.

Pi Network Shifts to Email Verification: A Safer Future?

According to a post on the official Pi blog, developers have been testing the email verification systems during the past days. This blog also explained that this change was made because the phone number verification system was unreliable and expensive. The Pi team also acknowledged that the system had not always worked correctly, as servicing the global userbase proved challenging. Some problems that were mentioned include "telecommunication regulations, carrier policies, individuals' service subscriptions and costs, and more."

The blog then mentioned that the Pi Network is currently using KYC and liveness checks. As such, it mentions that now it is safer to use email-based two-factor authentication for verifying users. Additionally, it is also mentioned that the team will be trying to provide passkey and biometric authentication in the future. However, to first establish the email-based authentication, all the users need to provide a secure email address. However, it is stressed that this process will not be easy, as many users have not recorded an email yet.

Securing the Future: Why Pi Had to Delay Token Migration

The PI team also listed some of the challenges in the way of including the email-based verification system. Some examples included the process of using 2FA or the process of email verification. As such, they argued that the process of Pi token migration had to be paused. This gave the team the necessary time to create and implement the essential systems and features. At the end, the blog announces the continuation of the migration process.

Pi Coin Eyes $1.19 as Bullish Wedge Pattern Emerges

In today's Pi news, we also saw some bullish technical indicators. As of writing, the Pi coin price stands at $0.8020, showing a 3.8% daily value decrease. Today's fall in value has been attributed to the general pullback in the market as Bitcoin also fell. However, a falling broadening wedge has been observed in the price movement of this crypto, increasing the chance of a rally.

As seen in Chart 1, the Pi token's 4-hour price chart now shows a falling broadening wedge pattern. This usually means an upcoming breakout, which can turn the market sentiment from bearish to bullish. A successful turn in sentiment can catapult the Pi coin's value to $1.19, which is an over 45% increase. Additionally, this bullish perspective can also be supported by other technical indicators.

Another technical indicator has also turned bullish as the volume histogram bars are now green. This shows that the buying activity has increased, and some investors might be buying in the dip. The RSI for the Pi token is below 40, which shows a near-oversold condition for this token. As such, we can expect an upcoming bullish movement in the price. The Average Directional Index also supports this prediction as it has now tipped to the south. As such, we can also see that the current bearish price trend is weakening.