Pi Network (PI) News Today: May 14
The group behind the controversial crypto undertaking Pi Network retains unveiling updates and bulletins in regards to the total ecosystem.
PI’s worth, although, hasn’t didn’t stage a comeback, whereas some essential components counsel {that a} extra substantial correction might be on the horizon.
All the New Stuff
Earlier this week, the Core Team revealed that greater than 18.1 million customers have now accomplished the great KYC verification, and over 16.7 million Pioneers have efficiently migrated to Mainnet.
Pi Network has repeatedly emphasised its core precept that one account represents one actual human being. The group believes this can be a important situation that retains the ecosystem functioning, as mining rewards stay honest whereas settlements depend on precise contributors.
Nonetheless, a number of customers proceed to complain on X that they’ve skilled issues with the required verification, with some claiming they’ve been ready for years to finish the method.
In addition to the frequent updates on the KYC entrance, Pi Network has been making important progress throughout the undertaking. In February, the group introduced protocol model 19.6, adopted by an improve to v19.9 and the extremely anticipated v20.2, which laid out the foundations for good contract capabilities.
At the beginning of the month, Pi Network disclosed the migration to protocol v22, with model 23 subsequent in line. Some neighborhood members not too long ago (*14*) that the deadline for that improve has been prolonged from May 15 to May 19.
Major Recognition for Pi Network
The undertaking served as one of many sponsors of the worldwide crypto convention Consensus 2026, whereas its co-founders Chengdiao Fan and Nicolas Kokkalis took the primary stage.
The former highlighted how Pi Network’s infrastructure and real-human identification system can assist the event of helpful merchandise within the AI period. She additionally identified that many crypto initiatives design tokens primarily for hype, however her entity focuses on cash that drive precise engagement and long-term worth.
Kokkalis’s speech was additionally centered on the development of Artificial Intelligence, extra particularly on the pressing challenges of sustaining belief and verifying actual human identification as AI techniques grow to be able to producing convincing bots, profiles, and interactions at scale.
PI is Still in Red Territory
Despite all of the aforementioned developments and upcoming developments, PI’s worth stays suppressed nicely beneath $0.20. As of this writing, it trades at round $0.17 (in keeping with CoinGecko), representing a 6% decline on a weekly scale.
Meanwhile, the rising quantity of PI tokens saved on crypto exchanges means that the pullback might intensify within the close to future. Data present that the overall variety of cash held by such centralized platforms has reached virtually 540 million, with over half on Gate.io.
Such a pattern signifies that traders proceed to shift from self-custody strategies towards exchanges, thereby rising speedy promoting stress.
The publish Pi Network (PI) News Today: May 14 appeared first on CryptoPotato.
