Pi Network price remained under pressure this weekend, even as the developers announced major announcements, including a strategy to compete with Worldcoin and Humanity Protocol.

Pi Coin (PI) token was trading at $0.1677 on Sunday, down slightly from the highest point this month. It remains 35% above its lowest level this year.

In a statement marking the first anniversary of its mainnet launch, Nicolas Kokkalis and Chengdiao Fan explained the key priorities to watch going forward. 

The top priorities include features like native token generation, decentralized exchange, and launching developer tools. Their goal is to create an active network where creators can launch apps and their accompanying tokens.

Most notably, the developers are aiming to accelerate the Know Your Customer (KYC) process. They recently launched an AI-powered upgrade that has boosted the number of verified individuals.

With this experience, the developers are now working on rolling out KYC-as-a-Service. Their goal is to have Pi Network provide these services to companies from around the world.

The service will compete with WorldCoin (WORLD) and Humanity Protocol. World, which was launched by Sam Altman, aims to provide these services through the World ID and World App. It has already enrolled millions of people globally. 

Humanity Protocol also aims to solve this challenge by leveraging the proof of humanity mechanism using palm recognition technology. The data is then converted into cryptographic hashes using zero-knowledge proofs.

Still, Pi Network price remains under pressure as the developers did not address key factors that have contributed to its underperformance. For example, they did not address the tokenomics, including the ongoing unlocks and potential token burns. Also, they did not address strategies to ensure more exchange listings.

Pi Network price technical analysis 

The daily chart shows that the PI price has remained under pressure in the past few days. It retreated from this month’s high of $0.2050 to the current $0.1677. 

The coin has remained below all moving averages, while the Relative Strength Index has turned around and moved below the neutral level at 50. 

The most likely scenario is where the Pi Network price continues falling, potentially to the psychological level at $0.1500. A move below that level will point to more downside, potentially to $0.1300.

Crypto investors are increasingly exploring beyond the top three cryptocurrencies as the market downturn continues, according to Robinhood’s head of crypto, Johann Kerbrat.

“I think what we see from our customers is that they actually see it as an opportunity,” Kerbrat told Cointelegraph during an exclusive interview, adding that they are seeing it as “an opportunity to buy the dip.”

“So we actually see a lot of customers continuing to trade crypto and diversifying, not just on the top two or three assets, but actually going pretty wide,” he said, referring to the largest two cryptocurrencies by market capitalization, Bitcoin (BTC) and Ether (ETH).

It signals that investors are potentially becoming more comfortable with crypto as an asset class, including its volatility and market swings.

Investors have a “very clear view” on Bitcoin and Ethereum

It comes just months after Coinbase Asset Management president Anthony Bassili told Cointelegraph in November that the average investor still hasn’t reached a clear consensus on what the third crypto asset beyond the top two warrants serious attention. 

“The market is very unsure as to what’s the next asset they want to own after that,” he said, adding that Solana (SOL) is “maybe” the third asset on the radar. Bassili said at the time that there is a “very, very clear view” in the community in terms of Bitcoin being the first priority, followed by Ethereum.

Institutional crypto asset trading platform MidChains CEO Basil Al Askari told Cointelegraph that “we’re seeing full-scale asset managers entering with very large block trades going into predominantly the top 20 assets.”

“Not necessarily smaller cap altcoins, or not necessarily into DeFi or yield products,” Al Askari said, adding, “it’s baby steps.”

“I don’t think it’s impossible to see large investment managers and funds build specific teams around strategies that do different things along the risk curve, and so I do think that’s very possible,” Al Askari said.

Crypto holders are looking for use cases

Meanwhile, Kerbrat said he’s also seeing more crypto holders on the platform not just holding their tokens, but actively using them.