Recently, the price of Pi Network's PI token has experienced significant volatility, dropping by over 10% again in the past 24 hours to reach a two-week low, falling below $0.18. Despite the highly anticipated Pi Day (March 14th), the asset has cumulatively declined by approximately 40% since that date, even as the project team has released new updates and made commitments during this period.
PI Token Sees Another Downturn
Second Migration Wave Launched
The project team explained that the second migration aims to allow users to transfer additional PI tokens to the mainnet and "further engage with the ecosystem." This move coincides with the gradual rollout of Phase 2, while the process for the first batch of eligible Pioneers for migration will "continue as usual."
To participate in the second migration wave, users must ensure their Pi wallet has two-factor authentication (2FA) enabled in Step 3 of the mainnet checklist and has a trusted email added to their account. Additionally, the second migration wave will include referral mining rewards distributed to referred team members who have successfully passed KYC verification.