Pi Network reminder missed deadline as PI token rebounds 40% weekly
Pi Network’s core team reminded node operators of a February 15 deadline to run nodes on laptops/desktops (the protocol’s “fourth role”) ahead of planned protocol upgrades; the deadline has passed with no published participation numbers or extensions. Community criticism is rising over perceived lack of transparency, slow KYC/mainnet progress, and limited real‑world utility. Social posts blamed the team for PI’s recent crash to a new low at $0.1312. Despite that, PI staged a sharp recovery over the weekend, topping $0.20 before settling under $0.19 and finishing the week up roughly 40%. PiScan data shows daily unlocks falling to under ~6.2M PI from >7.5M last week, which could reduce short‑term selling pressure. Traders should watch node rollout updates, KYC/mainnet milestones and the token unlock schedule as catalysts for further volatility.
Neutral
The news contains mixed signals for traders. Negative elements: missed/publicly unquantified node participation and ongoing criticism about lack of KYC/mainnet progress increase execution risk and long‑term uncertainty, which can weigh on sentiment. Positive elements: a strong short‑term price rebound (≈40% weekly) and a meaningful drop in daily unlocked PI supply (from >7.5M to <6.2M) reduce immediate selling pressure and can support further rallies. Absent concrete node rollout numbers or KYC/mainnet milestones, the story is unlikely to drive a sustained bullish trend; instead it increases short‑term volatility. Therefore the net expected market impact is neutral — potential for short‑term trading opportunities but with elevated risk until clearer technical and on‑chain progress is published. Historical parallels: tokens with prolonged mainnet/KYC delays often see volatile relief rallies tied to supply changes or speculative buying (similar to lockup-driven pumps), but sustained gains require concrete development or adoption news.