Today marks the end of the extended grace period for completing KYC and Mainnet migration within Pi Network.
End of Mainnet Migration Deadline
Today, March 14, is the last chance for Pi Network users to complete KYC and migrate to Mainnet. Those who fail to do so will lose most of their mobile balance except for PI mined in the last six months. The Pi Network team extended the deadline multiple times, but today finalizes this opportunity to verify balances and proceed to the next phase of the project.
Current PI Price Situation
Despite the significance of the Mainnet migration, the PI price has been struggling. PI is currently trading at $1.52, down 6.87% in the past 24 hours and 16% over the past week. Bearish sentiment is dominating, with traders positioning for further price decline. Futures market data shows skewed short positions, indicating sellers are in control. PI faces strong resistance at $1.54.
Future Prospects for PI
For PI to regain momentum, it needs to break the resistance at $1.54. Success in this could set the next target at $1.5980. The broader cryptocurrency market's sentiment impacts PI's price; improvements could lead to buying support, while poor conditions might keep pressure on PI. Completing migration positively could enhance trust in PI, whereas a problematic transition could increase selling pressure.
The closure of the Mainnet migration is a significant step for Pi Network and its community. PI's price continues to face challenges, and the market eagerly awaits the potential for PI to overcome resistance and gain support moving forward.
