DUBAI: Pi Network has officially set February 20, 2025, as the date for its much-anticipated mainnet launch.
After years of speculation, the blockchain-based mobile mining platform is finally transitioning to open trading.
The project, which allows users to mine Pi tokens via smartphones, has drawn significant attention with over 19 million users completing KYC verification and 10.4 million migrating their tokens to the mainnet.
Surging speculative prices
Ahead of its launch, Pi Coin’s speculative price has surged by nearly 70%, jumping from under $50 to over $90. The price rally comes as traders and investors anticipate its potential market valuation once real trading begins. Analysts caution, however, that the current price is an IOU-based estimate rather than a true market indicator.
“A critical factor for Pi Coin’s launch price is whether major exchanges support it,” said UAE-based crypto analyst Brian Deshell.
Exchanges rush to list Pi Coin
With the mainnet launch confirmed, major crypto exchanges have started preparing for Pi Coin’s listing. OKX has announced the listing of the PI/USDT trading pair, set to go live on February 20 at 8:00 AM UTC.
Following this, Bitget also confirmed its listing, with trading to commence the same day and withdrawals opening on February 21.
Key price levels to watch
Pi Coin has faced resistance at the $100 mark, currently consolidating around $63. Analysts predict that a breakthrough above this level could push it toward $189, while a failure to hold support above $40 may lead to further corrections.
Pi’s future
Despite the growing hype, Pi Coin’s long-term value remains uncertain. The project is yet to be listed on major exchanges beyond initial listings, and its real-world use cases are still in development. Industry experts warn that while early adopters may benefit, investors should remain cautious until the coin establishes a clear market presence.
What is Pi Network?
Pi Network is an innovation that offers a cryptocurrency mining concept similar to Bitcoin but with a more accessible approach. However, access to this network is not entirely free. The project was founded by Dr. Nicolas Kokkalis, Dr. Chengdiao Fan, and Vincent McPhillips, with a vision to make crypto mining easier using smartphones.
To participate, users must receive an affiliate code from an existing miner, allowing them to start their journey as a pioneer-level miner in the Pi Network ecosystem. Pi Coin, the primary cryptocurrency of the network, rewards users for their participation. Additionally, Pi Coin has real-world applications, such as being accepted for purchases on Pi Chan Mall, an e-commerce marketplace developed by the network.
Despite its growing popularity, Pi Network remains in the closed mainnet phase and operates independently of any company, leading to both high expectations and uncertainty within the community. Nonetheless, it represents an interesting experiment in the cryptocurrency space, potentially transforming how digital assets are mined using everyday devices.