Altcoin
Pi Network Adds 2FA for Wallet Security, How It Will Affect Pi Coin Price?
The Pi Network core team has made a major announcement adding two-factor authentication (2FA), mandatory for the Pioneers to implement for a successful migration to the mainnet blockchain. Amid this announcement, the Pi Coin price has bounced back from the crucial support of $1.0, in a relief recovery for investors.
Pi Network Introduces 2FA Security for Wallet Confirmation
To further enhance the security of its wallets, Pi Network has introduced two-factor authentication (2FA), which will allow for a smooth migration for the mainnet blockchain. The new feature requires selected Pioneers to complete 2FA via a trusted email before their Pi balance is successfully migrated to the Mainnet.
The Pi Core team stated that the 2FA security aims to secure Pioneers’ wallets and accounts by adding an extra layer of protection. For Pioneers who recently migrated their Pi but remain within the 14-day pending period, completing 2FA is now mandatory.
In the case, the Pioneers fail to complete the 2FA process, Pi Network will securely return the Pi Coins to their mining app. However, on successfully completing the 2FA process, the user balance will be re-migrated to the Mainnet without any loss. The official announcement from the Pi Core team reads:
“2FA and the Pi “return” features are meant to ensure, as much as possible, the security of Pioneers’ Pi and accounts. Due to the nature of blockchain where transactions are immutable and the Pi Wallet is noncustodial, these features provide extra caution and make sure that Pi is sent to the rightful Wallet owner”.
Will Pi Coin Price Regain $2 Very Soon?
Over the last week, the Pi Coin price has come under severe selling pressure down y 23% on the weekly chart. With its market cap slipping under $8 billion, the altcoin has now slipped from the 11th spot to now at the 16th spot. Also, the daily trading volume for Pi Coin is up by 15.87% to $600 million.
Despite this development, market analysts continue to be bullish about the altcoin. Pi Coin’s 15-minute price chart displays a symmetrical triangle pattern, thereby hinting at an imminent breakout.
Bullish Scenario: A breakout above the key resistance level at 1.2 could propel Pi Coin’s price toward the 1.25–1.30 range in the short term. Strong buyer volume could further amplify momentum, leading to higher gains.
Bearish Scenario: If Pi Coin fails to breach the resistance and drops below the support level near 1.10, the price may revisit lower levels around 1.05–1.02.
Token Unlock and Listing Delays
The price of Pi Network’s native token is experiencing heightened volatility as data from PiScan reveals that nearly 129 million Pi Coins—valued at approximately $175 million— will be released this month. Such large unlock events often lead to increased selling pressure, sparking concerns that Pi Coin could drop below the critical $1 threshold.
Furthermore, the community is still waiting for big exchange listings for PI. Binance has not confirmed any plans to list Pi Coin, leaving speculation and market unease to dominate discussions.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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