Pi Network Coin Goes Live: Everything You Need to Know

Pi Network Coin plummeted 62.63% after its much-anticipated exchange listing, largely due to early miners cashing out and the absence of a Binance listing. Despite this, the coin’s open mainnet launch marks a milestone, allowing transactions beyond its closed ecosystem. Experts remain optimistic about its long-term potential, with predictions of significant value growth if mainstream adoption increases.

CONTENT:

• Pi Network Coin Plunges 62% After Listing—What’s Behind the Drop and What It Means for Crypto Investors

Pi Network Coin Goes Live: Everything You Need to Know

The Pi Network Coin has officially launched on its Mainnet, making its debut on the cryptocurrency market. This digital currency, which can be mined directly from mobile devices, is now available for trading on major crypto exchanges, including OKX, Gate.io, Bitget, and CoinDCX.

Pi Network Mainnet Launch

On February 20, 2025, at 08:00 AM UTC, Pi Network transitioned from its enclosed mainnet phase—active since December 2021—to an open Mainnet, allowing users to trade their mined Pi Coins on global exchanges. With this move, over 10 million users can now migrate their Pi holdings from the testnet to the mainnet, marking a significant milestone for the project.

The Pi Network app has already surpassed 110 million downloads, gaining an average of 110,000 new users daily. On February 17 alone, over 540,000 new members joined, pushing the app to the #4 spot in the Social category on the Google Play Store, just behind Facebook and Instagram.

What is Pi Network Coin?

Launched in 2019 by Stanford graduates, Pi Network enables users to mine cryptocurrency through a mobile-friendly, energy-efficient process. Unlike Bitcoin, which requires specialized mining hardware, Pi allows users to earn rewards by verifying their daily presence within the app.

The network aims to establish a decentralized Web3 ecosystem, ensuring easy access to digital currency without significant technical barriers. Pi’s mining method is designed to be lightweight, requiring minimal battery usage. The network also integrates Know Your Customer (KYC) verification to enhance security and user authenticity.

How Does Pi Network Work?

Since its initial launch, Pi operated in an “enclosed” mainnet phase, where users had to complete KYC verification before transferring mined Pi to the blockchain. With the new open mainnet, external transactions are now possible, expanding Pi’s utility as a tradable asset.

Pi rewards users in different ways:

• Pioneers earn basic rewards for daily check-ins.
• Contributors gain additional rewards by forming security circles with trusted contacts.
• Ambassadors earn bonuses by referring new users.
• Node Operators run full nodes to help maintain the network.

To further support its ecosystem, Pi also offers incentives for app engagement and Pi lockups.

How to Buy and Trade Pi Coin?

To get started with Pi Coin, follow these steps:

1. Download the Pi Network App – Available on mobile platforms.
2. Start Mining – Tap the lightning bolt icon daily to earn Pi.
3. Build a Security Circle – Add 3-5 trusted contacts after three days to boost your mining rate.
4. Refer Friends – Increase earnings by sharing a referral code.
5. Engage in App Features – Participate in chats, polls, and other activities.

Pi Coin Price Today

As of 8:50 PM on February 20, Pi Coin was trading at $0.91, with a 24-hour trading volume of $811.77 million and a fully diluted valuation of $8.91 billion, according to Coingecko. The coin previously hit an all-time high of $1.97 at 2:25 PM before dropping below the $1 mark.

While Pi’s future market value remains uncertain, its transition to an open network marks a crucial step in its evolution, potentially increasing adoption and mainstream usability.

The highly anticipated Pi Network has officially opened for external trading on February 20, 2025, marking a significant milestone for the project. Unlike traditional cryptocurrencies that rely on energy-intensive mining processes, Pi Coin allows registered users to mine coins for free using a mobile-friendly Web3 ecosystem.

Pi Network Overview

Founded in 2019 by Stanford Ph.Ds Nicolas Kokkalis and Chengdiao Fan, Pi Network now boasts over 60 million members worldwide. The platform has gained widespread adoption due to its accessible mining method, which does not require expensive hardware.

Several major centralized exchanges, including OKX, Bitget, Bitrue, HTX, and BitMart, have confirmed their support for Pi Coin and listed the token at launch. However, Binance has taken a different approach, opting for a community vote to decide whether Pi should be listed, with results expected on February 27, 2025.

Airdrops and Promotions

To celebrate Pi Coin’s launch, exchanges have introduced promotional campaigns:

• Bitget is offering a $60,000 Pi airdrop pool, running until March 3.
• BitMart has announced a $3,000 USDT giveaway for 300 selected users participating in Pi trading.

Mainnet Launch and Exchange Listings

The Open Mainnet officially launched at 8:00 AM UTC (1:30 PM IST), bringing an end to the enclosed mainnet phase that had been active since December 2021. With this transition, Pi Coin is now available for trading on global exchanges.

Market Reactions and Price Fluctuations

The launch has triggered major price movements in Pi Coin’s value:

• The token recently surged to $92, generating excitement among traders.
• However, its value dropped by 55% and is now trading around $30, as reported by Fortune.
• The price drop is partly attributed to HTX delisting Pi’s IoU (I Owe You) token, which was previously used for speculative trading before the official launch.

Despite this volatility, Pi Network continues to gain traction, with over 110 million app installations and an average of 110,000 new downloads daily. The app currently ranks #4 in the Social category on the Google Play Store, further cementing its growing popularity in the crypto space.

Pi Network Coin Plunges 62% After Listing—What’s Behind the Drop and What It Means for Crypto Investors

Pi Network Coin, a cryptocurrency mined via smartphones, witnessed a dramatic 62.63% drop in value shortly after its much-anticipated listing. Despite this setback, the coin has garnered support from major exchanges and boasts a user base exceeding 110 million. Analysts remain hopeful about Pi’s long-term prospects, with some predicting it could surpass $500 by 2030.

Pi Coin’s Steep Decline—Key Factors Behind the Crash

Following its exchange debut, Pi Coin peaked at $1.97 before plummeting to $0.737 in just a day. Several factors contributed to this decline:

• Early Miners Cashing Out: Since 2019, millions of users have mined Pi for free via the mobile app. With the coin now tradable, many early adopters have chosen to sell their holdings, leading to increased selling pressure.
• Absence of a Binance Listing: While exchanges such as OKX, CoinDCX, and Bitget support Pi, its lack of a listing on Binance, the world’s largest exchange, has limited its exposure and liquidity.
• Concerns Over Utility: Unlike Bitcoin or Ethereum, Pi Network’s ecosystem remains underdeveloped, with few real-world applications to drive demand.

Despite the dip, crypto analyst Kim H Wong remains optimistic, suggesting that once early sellers exit the market, new buyers could drive prices upward.

Industry Reactions—Is Pi a Scam?

Bybit CEO Ben Zhou has openly criticized Pi Network, labeling it a scam and confirming that Bybit will not list it. He cited his experience in forex trading as a reason for avoiding projects with potential refund disputes.

However, Pi Network maintains its legitimacy, emphasizing its goal of creating a widely accessible digital currency. The platform, developed by Stanford graduates, enables users to mine Pi by simply tapping a button daily, with minimal battery or performance impact.

The Significance of Pi’s Mainnet Launch

For over 10 million Pi users, the transition to an open mainnet is a major milestone. It allows them to transfer mined coins to external exchanges, expanding the cryptocurrency’s reach. Pi Network’s popularity has surged, with daily installations averaging 110,000 and over 540,000 new users joining on February 17, 2025, alone.

Future Outlook—Can Pi Network Succeed?

Despite its rocky start, some analysts believe Pi has strong growth potential. If it secures mainstream adoption and businesses begin accepting it for transactions, its value could rise significantly.

Meanwhile, Bitcoin has surged past $98,000, strengthening its dominance in the market, while Ethereum struggles below the $3,000 mark.

The coming years will determine whether Pi Network can evolve beyond speculation and establish itself as a viable digital currency for everyday use.