Pi Network Launches New KYC Synchronization Feature Ahead of Pi2Day

Pi Network has introduced an important update to its Know Your Customer (KYC) verification process. The network has added a new feature that allows users to synchronize their KYC status with the mining application in case of any discrepancies.

This update comes as excitement builds around the upcoming Pi2Day event. Pioneers are eagerly awaiting a major announcement, with speculations ranging from Pi Network's potential Binance listing to the launch of new ecosystem applications.

Pi Network Introduces New KYC Feature

The new KYC feature is activated through the 'Synchronize Status on Mining App' button. This addresses a long-standing data synchronization issue that the Pi Core Team has been working to resolve.

"The purpose of the new button: To allow Pioneers to synchronize their KYC status between PiApp and PiBrowser. If your KYC status in the KYC app shows 'KYC Passed' but your mining app does not reflect this, use this button to synchronize the status. It benefits many users to complete KYC if there are any synchronization issues," a user posted.

After initiating the process, the user's KYC status will receive a "Temporary Approval." This means the KYC process is still under review and requires additional verification before final approval.

This new feature coincides with increased anticipation around Pi2Day. Pi2Day is held annually on 06/28. It builds on Pi Day (03/14), doubling Pi's value from 3.14 to 6.28.

This is a significant event for the Pi Network community focused on the network's progress and development. With less than 10 days left until Pi2Day, the Pi community is increasingly optimistic about a breakthrough.

A poll conducted on X (formerly Twitter) by a Pioneer revealed that over 40% of participants believe Pi Coin (PI) will be listed on Binance during Pi2Day. PI users have been waiting for this since the Open Network launch.

Despite a community vote where 86% of users support Pi's listing on Binance, the exchange has not yet taken action to add PI to its platform. If this occurs, it could significantly increase the token's liquidity and market presence.

Besides speculation about a Binance listing, there are rumors that new ecosystem applications will be launched on Pi2Day.

"According to confirmed sources, Pi2Day (06/28) is being prepared. A series of new ecosystem applications will be launched. Some of the most anticipated announcements will be revealed!" Pi Barter Mall wrote.

Can Pi2Day Trigger a Price Recovery for Pi Coin?

While these predictions remain speculative, Pi Coin could benefit from any positive sentiment, especially given its recent market performance. Over the past 30 days, PI's price has dropped 27%.

At the time of writing, PI is trading at $0.54, down 3.3% in the past day. The coin is just 32.8% away from its All-Time-Low.

BeInCrypto also reports a 30% increase in Pi token supply on centralized exchanges (CEXs) in Q2 and a 90% decrease in trading volume since mid-May. This has raised concerns about supply exceeding demand and potential selling pressure. Despite these challenges, Pioneers remain hopeful about a price recovery.

"The current price drop is a blessing in disguise. While some feel disappointed, I feel very optimistic because I can see that strong resistance levels at $0.6 - $0.8 have now been diluted by the price drop. The recovery will be spectacular, along with the major revelations about the upcoming Pi2Day for PI," Woody Lightyear stated.

Meanwhile, Pi Barter Mall predicts that Pi2Day could trigger a price surge for the altcoin. Users expect PI to recover from its current low, potentially rising to around $1-3 or even reaching a new all-time high.