PI Coin Eyes Big Breakout as Protocol Introduces Enhanced Process

The Pi Coin unveiled new Pi web browser and app features. These new features aim to improve the network’s Know Your Customer (KYC) process. They come ahead of the upcoming Pi 2 Day, slated for June 28.

These developments put PI Coin in a positive light. Traders and analysts now expect a bullish price breakout ahead.

Pi Network New KYC Features

Crypto community member Mahidhar shared details about Pi Network’s new KYC features in an X post.

The new features effectively resolve the long-standing data synchronization issue encountered by Pioneers. Notably, this new sync move allows users to enjoy a more robust and user-friendly experience.

Specifically, the new features allow Pioneers to synchronize their KYC status between the PiApp and PiBrowser.

Many users have expressed frustration over the delay in their KYC approval. Some have had their applications stuck in “review in progress” or “tentative approval” status for over two years without resolution.

Some reports claim the new KYC feature resolves these issues and endless migration status loops.

The approval status shows that the review is ongoing, and additional verification is required for final clearance.

More Disruptions to User Migration

Notably, the KYC update arrives at a crucial time, as the platform navigates recent migration issues ahead of the Pi2Day.

The Pi Network recently received complaints about stuck KYC verifications, disappearing wallet balances, and broken two-factor authentication (2FA).

Many users reported not receiving confirmation emails or encountering error messages when attempting to verify their accounts.

Another set reported that their wallet balances are displaying zero. Users also expressed dissatisfaction about bugs and delays, disrupting the migration process.

Users who face delays due to system issues feel penalized unfairly, especially those who have mined consistently for years.

A major grievance is the risk of losing mined Pi coins. Furthermore, Pi Network faces allegations of deceptive practices and a lack of transparency in its operations.

Despite these migration challenges and allegations, many community members are increasingly excited about the upcoming Pi 2 Day.

This occasion, celebrated on June 28, commemorates the Pi Network crypto community. They anticipate the Pi Network team launching new updates and appealing projects.

PI Coin Price Set for New Highs

As of this writing, the price of PI Coin was trading at $0.53, down 0.43% over the past day. The daily trading volume surged by 3.2% to $84.9 million.

This uptick indicates traders actively scooping PI as they anticipate a big breakout.

The Pi Day 2 event and the new KYC feature have helped to increase investors’ interest in Pi coin. Crypto analyst Moon Jeff predicted that PI could hit $2 if it overcomes the $1.2 resistance level.

However, the market analyst noted that user utility is critical for PI Coin to regain momentum.

If more valuable decentralized applications or DeFi projects adopt PI, it could reclaim its previous level and even hit new highs.

For now, the future appears bright for PI Coin token holders, considering the Network seeks to prioritize user experience.