Pi Coin Grace Period Extended to February 28, 2025: Price Surges by 10%

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Here We Go Again! Pi Network has extended the grace period deadline for KYC (Know Your Customer) verification and Mainnet migration to February 28, 2025. This is the third time the Pi Network has extended its grace period, it comes just a day before the highly anticipated Mainnet launch, originally scheduled for January 31, 2025. Despite the extension news, the price of the Pi coin has recorded a gain of 10% in a day. 

KYC Deadline Extended To Feb 28, 2025

In a recent blog post, Pi Network revealed that the grace period for KYC update and migration process extension has been extended until 28 Feb. 

However, This extension is all about fairness and making sure everyone gets a chance to join the Pi Network without losing their Pi coins.

The Pi Network has also clarified that this extension doesn’t affect the Open Network launch, which is still set for Q1 2025. The new deadline for the grace period won’t change the timeline for the launch, keeping everything on track.

If You Miss, You Loose 

However, the announcement also clarified that any Pi holders who fail to complete their KYC and migration by the new deadline will lose their coins. Only the Pi mined within the six months leading up to the migration will be kept. 

Older balances will be loose, so users need to act quickly to secure their holdings before the deadline ends.

Pi Coin Price Soars

Despite the extended grace period, Pi Coin has seen a significant price jump. In just 24 hours, Pi Coin’s price increased by 10%, reaching nearly $50, with a market cap of $3.38 billion

As the mainnet launch nears, Pi Coin traders are closely monitoring key price levels. If the mainnet launch occurs before the end of Q1, there’s potential for Pi Coin to hit $100. However, if delayed, it may see a bearish decline towards $28.

With the deadline extension, Pi holders have a little more time to secure their coins, but they should act quickly to avoid losing them.