Pi Cryptocurrency Price Fluctuates After Network Launch

The Pi Network cryptocurrency project has officially launched its Open Network after more than six years of development, allowing users to trade Pi coins outside of the Pi Network platform and connect to the broader blockchain ecosystem. The Pi Core Team (PCT) announced on February 20th, 2025, that the Open Network is now live, meaning Pi users around the world can access and trade Pi with other blockchain networks. This marks a significant step forward for the project, as users can now leverage Pi’s ecosystem and apps to engage with external networks and conduct transactions.

Despite this major milestone, there has been a noticeable fluctuation in Pi’s value since it was listed on various cryptocurrency exchanges. Initially priced at $2 per Pi token, the value quickly dropped below $1, before rising to $1.60, and then falling back to around $1.10. This volatility has caused disappointment among many Pi Network users, some of whom had high hopes for the value of Pi after waiting for over six years. Some users had even expected Pi to reach prices of $500 to $1,000 per token, and others were hoping for a “Global Consensus Value” (GCV) set at $314,159 per Pi.

The Pi Core Team has also introduced new verification measures, including the Know Your Business (KYB) validation for enterprises, in addition to the Know Your Customer (KYC) validation for individual users. As of now, only three cryptocurrency exchanges — OKX, Bitget, and Gate.io — have completed the KYB process and are authorized to create Pi mainnet wallets. This step is intended to minimize the risk of fraudulent activities and build trust within the community. However, despite the network’s opening, the Pi Core Team has not yet released the smart contract or updated the open-source code that was made available on GitHub in early 2023, leaving some users concerned about the project’s future direction.

The Pi Network’s initial supply was estimated to be around 6 billion tokens available for circulation upon the launch of the Open Network, with a maximum supply of 100 billion tokens in total. As of January 2025, there were approximately 5.56 billion Pi tokens in circulation. While some early participants had imagined the price of Pi to be extremely high due to the scarcity of tokens, the current market price and the overall market reaction highlight the disparity between user expectations and the reality of the cryptocurrency’s value. The ongoing volatility and lack of a clear roadmap for Pi’s future could impact its long-term credibility and market position.