- Following Pi Network’s mainnet launch, major exchanges like OKX and Bitget have already announced listings for Pi Coin, fueling excitement, though Binance has yet to confirm its position.
- Pi coin’s IOU contracts experienced extreme volatility leading up to the mainnet launch, with prices surging to $200 before crashing to $30.99.
It has taken nearly seven years of waiting, but the Pi Network mainnet goes live today, February 20, 2025, at 8 AM UTC. The much-anticipated move means users can now finally trade, send, and use their Pi coins in the open market. With millions of users on the network, this development has been the center of attention in the crypto space.
Pi Network’s Transition to Open Mainnet
Pi Network, also based on a tap-to-earn scheme like Hamster Kombat and X Empire, has attracted notice with its straightforward mining process, as outlined in our recent blog post. The users get paid in Pi coins for opening the app every day and getting other people to participate in the network. These coins had no value in the marketplace before, but the recent launch of its mainnet indicates they are now a part of the trading economy.
Post-launch, Pi Coin will become transferable and tradable, allowing holders to engage in transactions across various platforms. Several prominent exchanges, including OKX and Bitget, have already announced listings, boosting investor confidence. However, Binance has yet to confirm its stance.
While there is increasing excitement, there are still doubts regarding the long-term viability of Pi Network. Some have questioned its economic model, with others likening it to Ponzi schemes because it depends on referrals. Market analysts are keenly observing Pi coin, especially considering the failure of Hamster Kombat, which initially received huge hype but failed to sustain momentum.
Pi Coin Market Trends & Volatility
The run-up to the mainnet release has witnessed huge price fluctuations for Pi Coin’s IOU (I Owe You) contracts, as we discussed earlier. The price of IOU recently jumped to $200 on bullish sentiment. The price was short-lived, though, and fell sharply to about $30.99 after a 52% drop within a day, which indicates extreme volatility.
Pi Network’s native crypto Pi coin is now officially tradable, but its price trend is still unclear. Experts predict three scenarios based on existing market conditions.
- Possible Price Rally: If the strong investor demand persists and leading exchanges like Binance and Coinbase provide support, Pi coin might see a boom, possibly to $120 or higher.
- Mass Sell-Off Risk: Those long-term investors who accumulated Pi coins year after year may opt to take the money off the table, resulting in a major price slump. Some analyses project a drop as low as $17 if overall selling pressure overwhelms markets.
- Stable Price Range: When selling and purchasing pressure offset one another, Pi coin could stabilize near its present values until further information pushes new energies.
Further, it’s important to note that though there’s uncertainty, Pi Network remains popular, with an increasing user base. The total installations of the app have surpassed 110 million, according to The Economic Times report. On February 17 alone, some 540,000 new users registered on the network, a testament to continued demand for the platform.
Moreover, the upcoming Binance listing vote on February 27, may have an important role in determining subsequent price action. For now, however, Pi coin will likely go through increased volatility as the market responds to its highly anticipated release.
