Pi Network’s Latest Update Sparks Backlash

The post Pi Network’s Latest Update Sparks Backlash appeared first on Coinpedia Fintech News The Pi Network’s latest update about its .pi domain auction has sparked criticism from its users. While the Pi Core Team introduced a new app to manage domain bids, with features like stats tracking and email alerts, many in the community feel this isn’t the major progress they were waiting for, especially ahead of Pi2Day 2025 . No Major Update? Pioneers, who support and use the Pi Network, had hoped for stronger announcements that could help the Pi token gain real value . Instead, many see this domain auction update as underwhelming and out of touch with what users actually want. However, Pi network failed to impress the crypto community, and now they doubt Pi’s future, which seems bleak and dark. Users also see a severe bloodbath in Pi price if they don’t come up with new announcements. If the Pi2Day announcement consists only of Pi domains and there is no further major news on #Pi2Day , a very dark cloud will arise over Pi Network. Pi domains are not a bad thing, but it would be very bad if it stayed with this outdated announcement. Just give us the smart… — Pi Network News Global 𝛑 (@PiNewsGlobal) June 15, 2025 Auction Sees Low Interest Amid Price Crash Since the auction began three months ago, around 3 million PI tokens (worth $1.8 million) have been spent on domain bids, according to Piscan . But this is small compared to Pi’s daily trading volume of over $100 million. The update hasn’t done much to boost interest or price. Pi is now trading at around $0.60, down 35% in the last week and 60% for the month. Early hopes that businesses would rush to buy branded .pi domains have faded. Even Pi’s founder Nicolas Kokkalis once compared them to regular internet domains, but that excitement hasn’t shown up in real numbers. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : Can Pi Network Price Hit $100? , Calls for Real Updates Grow Louder Users are now demanding more meaningful progress. Many are still stuck in the KYC (Know Your Customer) process, and only six businesses have completed KYB (Know Your Business). The $100 million Pi Network Ventures fund , launched last month, has yet to announce any startup investments. One frustrated user wrote on X, “Great, but when will you fix KYC delays and deliver real tools?” Great, but when will you fix KYC delays and deliver real tools? Tired of hype with no substance — MOON CRYPTO SIGNAL PREMIUM (@cryptosignal666) June 15, 2025 More Pressure on the Team Ahead The team now faces added pressure. Over 248 million PI tokens will unlock next month, which could lead to even more selling. Without clear steps like exchange listings, ecosystem tools, and faster KYC processing, the network risks losing its community’s trust. 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