Pi Network (PI) News Today: February 18

We will also take a look at the PI token’s latest price performance, which was quite impressive after last week’s crash.

We will also look at some of the criticisms of the project, as well as the revival of the PI’s prices.

Latest deadline of Pi Network

Recall that at the end of last business week, the team behind the protocol issued an important reminder for Pi Network nodes, describing them as the “fourth role” in the ecosystem. The reason for the February 15 deadline is because the team promised that a new set of upgrades would be introduced soon. Nodes had to meet the requirements by that date; otherwise they risk being disconnected from the network.

All nodes were asked to use laptops or desktops instead of mobile phones. Although the deadline has now passed, the team has yet to publish additional information on the number of nodes that have completed the necessary step or are offering extensions.

Criticism is growing

On the first Friday of February, the core team said they were celebrating Pi Network moderators. They published a special video praising this crucial part of the overall ecosystem, indicating that moderators are volunteers not employed or paid by the official Pi Network team, who help moderate chats, answer Pioneers’ questions, monitor Pi apps and products, report bugs, and test new features.

The project’s community, however, was not in a celebratory mood. Many criticized the core team for a lack of transparency, clear planning and an inability to implement working KYC solutions. Some urged the team to “accelerate progress” and stop messing around with “all that superficial nonsense.” Others said they had been waiting for more than seven years to migrate their Pi coins to no avail.

Separately, a user using the They blamed the team for failing to introduce a “functioning mainnet after years of promises, no practical use other than ‘keep the app open’, and a whole lot of mobile mining theatrics.”

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The revival of PI

As mentioned above, the project’s native token was hit hard last week during the broader market correction, falling to a new low. Although the cards were stacked, PI made an impressive run over the next few days, rocketing to over $0.20 over the weekend, prompting other Pioneers to celebrate the revival.

One popular analyst predicted a massive 500% upside and hinted at buying PI “for the medium term.” At the time of writing, PI remains the top performer on a weekly basis, up 40% despite returning to below $0.19.

PiScan data shows a significant reduction in the number of coins to be unlocked on average in the following month, to less than 6.2 million per day, compared to over 7.5 million last week. This could further alleviate immediate selling pressure on the asset.