Pi Network unveils PiVerify and faces token unlock pressure

Pi Network announced a suite of new tools at its Pi2Day event, most prominently PiVerify, a KYC service that lets third‑party businesses verify users and pay fees in Pi coin. The rollout also included Pi Sign‑In, enabling Pi accounts for log‑ins on external sites, and SoloHost, an open‑source platform for running AI and distributed‑computing apps locally.

Despite the ecosystem expansion, Pi coin’s market price continued to decline, slipping about 6% in 24 hours to roughly $0.1125, more than 95% below its all‑time high. Analysts note that the upcoming token unlocks in July – between 76 million and 103 million Pi, worth roughly $8‑12 million at current prices – will increase supply at a time of weak trading volume (about $17 million daily) and waning demand, adding further downward pressure. Recent network upgrades aim to make Pi quantum‑resistant and enable smart contracts, positioning the platform for future DeFi and DEX applications.