Pi Network Faces Backlash as Users Struggle with Mainnet Migration

Feb 11, 2025

As the March 14 deadline approaches, Pi Network users, known as Pioneers, are growing increasingly frustrated over difficulties in migrating their mined Pi Coins (PI) to the Mainnet. The situation has sparked backlash, with many calling the project overhyped and raising concerns about its credibility.

Migration Challenges Ahead of Deadline

The Pi Network has set 8:00 AM UTC on March 14 as the final deadline for completing Know Your Customer (KYC) verification and migration. Failure to meet this deadline could result in users losing most of their Pi holdings, except for coins mined within the past six months. Despite a Grace Period aimed at providing additional time, many users continue to face unresolved technical issues preventing them from transferring their balances.

Community Outcry and Calls for Extension

Many crypto analysts and community members have taken to social media, urging the Pi Network team to extend the migration deadline until all technical issues are resolved. Users report that their balances remain unverified despite successfully completing KYC and following the Mainnet checklist. Others have submitted support tickets but claim they have received no response, fueling frustration and skepticism about the project's transparency.

Price Decline Amid Migration Issues

As migration challenges persist, Pi Coin has suffered a steep decline, dropping 16.3% this week to trade at $1.40. In the past 24 hours alone, the coin has seen a 12.2% loss. While some analysts remain optimistic that Pi Day on March 14 could serve as a catalyst for a price rebound, technical indicators paint a bearish picture. Pi recently broke below a key support level at $1.43, with the 50-day EMA at $1.74 now acting as significant resistance. If the downtrend continues, Pi could test support at $1.20 or even drop to $0.99. To regain upward momentum, it must reclaim the $1.74 level.

Market uncertainty and the lack of confirmation from Binance regarding a potential listing have made investors increasingly cautious about Pi’s short-term outlook.

Uncertainty Over Binance Listing

The long-anticipated Binance listing remains uncertain despite a community vote in which 86% of users favored Pi being listed on the exchange. However, Binance has yet to make an official announcement, adding to user frustration. Many Pioneers have turned to review platforms to express their dissatisfaction, leading to a surge in one-star ratings for both Binance and Bybit. The situation was further aggravated when Bybit’s CEO previously labeled Pi Network a scam, further deepening concerns over the project's legitimacy.

Mounting Pressure on Pi Network

With the deadline looming and no clear resolution in sight, Pi Network faces mounting pressure to address user concerns. If the team fails to resolve migration issues and improve communication, confidence in the project could take a serious hit, potentially impacting its long-term viability.