Pi Network Passes 18.1 M KYC Checks While Migration Backlog Persists and Token Stalls Near $0.17

Pi Network reported that more than 18.1 million users have completed identity verification, with over 16.7 million pioneers already migrated to the mainnet. The figures reveal a backlog of roughly 1.4 million verified users still awaiting migration, many of whom have been in a “tentative approval” KYC status for months. The project’s core team has not set a timeline for resolving these legacy cases, prompting growing community frustration.

Technical progress includes the release of the v23 node pre‑release upgrade (mainnet‑v1.1‑p23.0.1) addressing database permissions and statistical anomalies, and the upcoming Testnet 2 and Pi DEX launch. An ecosystem milestone saw CiDi Games roll out a beta version of its Pi ELF clicker game in South Korea, marking one of the first compliant DApp activations after a recent ecosystem purge.

Despite the user‑growth headlines, Pi’s market performance remains weak. The PI token traded around $0.17, down about 4 % over the past week and far below its February 2025 peak of $2.99. Traders are also watching a scheduled influx of roughly 174 million previously locked PI tokens slated for release by month‑end, which could pressure the price further.