Pi Network Fans Dreaming Of Mainnet Launch Due To Vague Aug. Updates Read CoinChapter.com on Google News
NOIDA (CoinChapter.com)— Pi Network’s August updates have stirred the crypto community, reporting over 13 million users completing KYC and 6 million transitioning to the mainnet. Despite these milestones, the network’s open mainnet launch remains without a clear timeline.
The community’s anticipation grows as the Sept. 30, 2024, deadline for KYC and migration approaches. The upcoming PiBridge talk show on August 30, which aims to shed light on these issues, has added to the buzz. However, skepticism persists, driven by the network’s history of delays and ambiguous communication.
Pi Network Sees Progress Amidst Uncertain Timelines
August has seen Pi Network reporting progress, with over 13 million users completing KYC and 6 million moving to the mainnet. While these figures indicate some forward movement, the lack of a concrete timeline for the open mainnet launch remains a critical concern.
The Pi Core Team has set Sept. 30, 2024, as the deadline for completing KYC and migrating to the mainnet, urging users to act within this Grace Period. However, the team has not provided a specific launch date, leaving many in the community questioning when—or if—the open mainnet will truly materialize.
PiBridge plans to hold an event to discuss Pi Network mainnet launch date.
Meanwhile, the PiBridge talk show scheduled for Aug. 30 aims to address these ongoing concerns. Hosted by Wesley Rocha, the event promises to offer insights into the network’s current status, with participation from figures like Victor Nguyen and Woody Lightyear.
However, given the network’s history of delays and vague timelines, it is unclear whether this discussion will provide definitive answers. Though the community’s anticipation is palpable, skepticism remains high. Many users are wary of expecting clear resolutions from this event.
Pi Network’s user engagement and migration progress is evident, yet the overarching uncertainty about the mainnet launch continues to fuel doubt. As the Grace Period deadline looms, the network’s ability to meet expectations remains questioned.
z`Price Action Continues To Be Crabby
Meanwhile, the Pi Coin IOU price dropped nearly 3.5% on Aug. 25 to reach a daily low near $35.5 before recovering.
PIUSDT daily price chart with RSI. Source: Tradingview
Following the PI USD pair’s recent rally, the Pi Network token’s price action seems to have reentered its consolidation phase. Despite being short-lived, the rally was a welcome departure from the usually horizontal PI coin price action.
Even trading pairs like the PI-INR pair had been crabbing, refusing to provide the drama some traders crave.
The PI network token has support near the $35.4 and $33.3 price levels. Moreover, if the Pi Network token price starts a rally, PI coin price could rise to the resistance near $39. Flipping the immediate resistance might help PI USD pair reach the resistance near $41.5 before recovering.
The RSI remained neutral, with a score of 47.3 on the daily charts.
The post Pi Network Fans Dreaming Of Mainnet Launch Due To Vague Aug. Updates appeared first on CoinChapter.
