Pi Network Hits 16.2M Mainnet Users, 148K Merchants One Year After Launch
Pi Network marked one year since its Open Network mainnet launch with notable growth across users, KYC, nodes and merchant adoption. The project reported 16.2 million mainnet users and 17.4 million KYC completions, a 60% rise in mainnet migrations over 12 months. Active network nodes rose to over 420. Merchant acceptance expanded to more than 148,000 stores (up from ~70,000 a year earlier), with 2.1 million local commerce users. Founders Nicolas Kokkalis and Chengdiao Fan outlined near-term priorities: increase utility, boost investments, introduce validator rewards and develop KYC-as-a-Service; an AI feature was added to speed identity checks. The update did not detail token burns, further decentralization, or new exchange listings. Pi Coin price hit $0.2067 on Feb 15 before pulling back to about $0.1615; technicals show a potential short-term rebound target near $0.2057. Primary keywords: Pi Network, Pi Coin, mainnet users, KYC, merchant adoption. Secondary/semantic keywords: validator rewards, KYC-as-a-Service, node growth, token price action.
Bullish
The update is broadly bullish for Pi Coin and trader sentiment because it reports concrete user and merchant adoption gains, active nodes growth, and product roadmap items that increase utility (validator rewards, KYC-as-a-Service). Rising KYC and merchant counts reduce utility friction and support on‑chain activity and real-world use cases — factors that historically help token demand and listing interest. The recent price pullback from $0.2067 to ~$0.1615 alongside positive fundamental news creates a setup for short-term recovery toward prior highs if volume confirms. In the short term, traders may respond with renewed buying on milestone headlines and technical reversal signals (hammer/doji, Supertrend support). However, upside depends on liquidity and broader crypto market conditions; absence of new exchange listings or decentralization details limits immediate institutional demand. Long term, continued growth in KYC, merchant adoption and developer activity could underpin sustained demand and network value, especially if utility features (validator rewards, KYC-as-a-Service) are implemented and lead to higher on-chain usage. Comparable cases: token projects that coupled merchant integrations and identity services often saw improved market sentiment and price performance, but results varied when listings or protocol-level incentives lagged. Key risks: overall crypto downturn, failure to deliver roadmap items, or lack of broader exchange access.