Pi Network has recently entered its second migration phase, simultaneously launching an initial version of the Pi Launchpad on its testnet. This update offers users a new avenue to transfer more Pi to the mainnet and introduces a token launch model distinct from standard Web3 launch platforms. The rollout is particularly significant as Pi continues to build its ecosystem around applications, developer tools, and user engagement.
The Pi core team stated that the second migration will be gradually expanded, while eligible users can still proceed with the first migration. For qualification, users must complete dual authentication for their Pi wallet via the mainnet checklist. The team indicated this step is necessary as blockchain transfers are irreversible, and stronger wallet protection helps mitigate security risks.
The migration process also covers referral mining bonuses associated with team members who have completed KYC. This implies users may need to encourage their referred teams to complete verification to transfer these balances to the mainnet. This update focuses more on utility and access rather than just exchange trading.
Despite these product updates, the price of PI has not seen new buying momentum. The token is currently trading near $0.201, showing an 8.9% weekly decline despite its recent listing on Kraken. This price action suggests that the ecosystem's progress has not yet translated into a significant bullish reaction in the market.
Community accounts still regard Pi Day as a significant moment for the network. Pi News Media reported millions of users commemorating the event as the project continues to push for a more inclusive digital economy. Its messaging emphasizes user growth and network participation over short-term market fluctuations.
The same update noted that over the past year, the Pi ecosystem has expanded with more applications, robust developer activity, and broader global recognition. This trend supports the view that Pi is still in its growth phase. Nevertheless, traders appear to be waiting for clearer signs that network progress can translate into stronger demand for the token.
Pi News Media also mentioned that the token recently approached $0.29 but subsequently pulled back. It described this retracement as typical volatility for a young digital asset. Even after the decline, holding near $0.20 indicates the token continues to attract attention, although current price strength remains limited.
PI price predictions show signs of key support tests. Daily PI/USD charts on OKX indicate the token is attempting to stabilize after facing strong rejection at recent highs. The price climbed from the $0.14 to $0.15 region into the $0.26 to $0.27 range, but sellers regained control. Long upper wicks near the top suggest buyers attempted to extend the rally, but the move failed to sustain.
Momentum indicators also show a reset after the latest rally cooled. The Relative Strength Index is hovering near 49.75, in neutral territory. This reading suggests the market is no longer overbought but also indicates that buyer activity remains insufficient.