Pi Network Volume Jumps $20M Amid Delays and 3.14 Transfers

Pi Network has delayed KYC approvals and reward payouts to curb mass selling and protect the token price. The Pi Core Team aims for a market value above $10 before enabling full peer-to-peer transactions and is considering token burning or long-term locking to strengthen the ecosystem. During this price discovery phase, Pi Network’s token slipped 6% to $0.46 as trading volume surged 80% to $20 million. On-chain data show a weekly gain of 1.1% and a brief push above $0.48. Two identical 3.14 PI transfers and over 10 million PI withdrawals in six days have sparked speculation of institutional interest or an imminent mainnet launch. Technical indicators remain bearish and the Fear & Greed Index sits at 79 (Extreme Greed), with forecasts warning of a 25% drop to $0.35 by August 11. Traders should watch for KYC progress, network milestones and token-locking measures before engaging, given mixed signals from volume spikes, symbolic transfers and looming sell pressure.