Pi Network Finally Goes Live for External Trading — What’s Next?

[Aykizcrypto]

 

After years of anticipation, the Pi Network has officially opened its doors to external trading, marking a significant milestone in its development. On February 20, 2025, at 8 AM UTC, the network transitioned from its “Enclosed Mainnet” phase — initiated in December 2021 — to a fully open Mainnet, enabling users to trade Pi coins on major cryptocurrency exchanges.

While this moment was met with enthusiasm, it also triggered a rollercoaster of price fluctuations as early excitement quickly gave way to sell-offs.

Despite these market jitters, interest in the Pi Network remains strong. Designed as a mobile-friendly cryptocurrency, Pi allows users to mine coins directly from their smartphones, eliminating the need for energy-intensive mining rigs. Moreover, this upgrade now facilitates transactions beyond the Pi ecosystem, opening doors for greater adoption and exchange listings. Let’s delve into the impact of this launch and what it means for Pi coin holders and investors moving forward.

The Mainnet Launch and Market Reaction

Pi coin debuted at a price of $1.45 and surged by more than 35% within the first hour of trading, peaking at $2.10. This impressive rally reflected the excitement surrounding the launch, with trading volumes skyrocketing by an astonishing 1,700%. However, the initial surge was short-lived. Within hours, Pi coin tumbled to a low of $1.01, dragging its market capitalization down to $7.02 billion.

Although the speculative hype led to an over estimation of the coin’s value, Pi enthusiasts remain hopeful that upcoming developments — such as the introduction of decentralized applications (Dapps) — could drive future rallies.

The availability of Pi on centralized exchanges (CEXs) has played a major role in its initial success, with platforms like Bitget, BitMart, Gate.io, MEXC, Bybit, HTX, and OKX already listing the token. However, Binance, the world’s largest crypto exchange, has taken a more cautious approach. Instead of an immediate listing, Binance launched a community poll allowing users to vote on whether Pi should be added to the platform. The poll closes on February 27, 2025, and its outcome could significantly influence Pi’s price trajectory.

What Does the Open Mainnet Mean for Pi Users?

For the Pi Network’s community — known as “Pioneers” — the transition to an open Mainnet introduces several key changes:

• KYC Verification Requirement: To participate fully in trading and transactions, Pioneers must complete Know Your Customer (KYC) verification. This measure ensures compliance and security across the network.
• External Transfers: Pioneers can now move their Pi coins to external wallets, facilitating real-world transactions and enabling integration with other blockchain platforms.
• Exchange Listings: The open Mainnet allows for official exchange listings, increasing Pi coin’s liquidity and trading opportunities.
• Dapp Development: With the open Mainnet, developers can now deploy decentralized applications (Dapps) on the Pi blockchain, expanding its use cases and functionality.

These changes significantly enhance the utility and accessibility of Pi coins, making them more than just a speculative asset.

Challenges and Concerns

While the launch of the open Mainnet is a major achievement, challenges remain. One key concern is the rapid increase in Pi coin circulation, which has nearly doubled in the past year, reaching 9.7 billion out of its 100 billion maximum supply. This inflationary pressure could impact long-term price stability.

Additionally, many early adopters have chosen to cash out, leading to the recent price decline. Since Pi mining has been free for users since 2019, millions of Pioneers have accumulated large holdings without investing any capital. Now that trading is possible, many are seizing the opportunity to sell their coins for profit, contributing to market volatility.

What’s Next for Pi Coin?

Despite the recent price swings, analysts remain optimistic about Pi coin’s future. A potential Binance listing could be a game-changer, significantly boosting credibility and liquidity. However, the true strength of Pi Network lies in its broader vision. More than just a cryptocurrency, Pi is building an ecosystem with over 80 community-developed applications, aiming for real-world adoption.

As the network continues to evolve, the coming months will be crucial in determining whether Pi coin solidifies its position as a key player in the crypto space. For now, the community watches closely, anticipating the next phase in the Pi Network’s journey.

We will also see new Web3 projects building on Pi Network just like the new PiWallet and its coin PiWT token, and more to come. Stay tuned.