Pi Network Mainnet Launch Sparks 35% Rally in Pi Coin Price

Pi Coin experienced a dramatic surge of over 35% shortly after the launch of its highly anticipated mainnet on February 20, 2025. This marked a significant milestone for the Pi Network, which had been operating in an enclosed mainnet since 2021. The mainnet launch opened the doors for Pi community members (known as pioneers) to trade their Pi coins and for developers to showcase their work to a global audience. The network currently boasts over 100 applications spanning various sectors, including decentralized finance and gaming.

Unlike traditional cryptocurrencies that rely on proof-of-work consensus mechanisms, Pi enables users to mine its token via a mobile application, making it accessible to a vast global audience. This innovative approach has fueled massive adoption, with millions of users engaging with the network prior to its official launch. As of now, Pi Network has more than 3.8 million followers on X (formerly Twitter), surpassing the follower count of major networks like Ethereum and Solana. At its peak, Pi Network had more than 50 million users.

The highly anticipated mainnet launch was followed by several centralized crypto exchanges listing Pi Coin (PI), including OKX, HTX, Bybit, MEXC, Gate.io, BitMart, and Bitget. Binance, however, took a different approach by conducting a poll to gauge whether it should list Pi Coin, with the poll running until February 27. As of now, other major exchanges like Coinbase, Kraken, and Upbit have yet to confirm whether they will list Pi Coin.

The price of Pi Coin saw considerable volatility following its listings. Within the first hour after being listed on various exchanges, the token surged by 36.8%, reaching a high of $1.97. However, its price quickly retraced, trading at $1.8 on OKX and $1.78 on Bitget. Notably, before the mainnet launch, Pi Coin had speculative IOU prices ranging from $61 to $70, creating an even greater contrast between these high expectations and the reality of its post-listing price.

At one point, Pi Coin spiked to $3.4 on Bitget before falling back to more stable levels. On Bybit, Pi’s price briefly dropped below the $1 mark. Despite these fluctuations, Pi Coin could experience additional gains as its large community, as well as new investors eager to capitalize on the hype, continue to buy into the token. The excitement surrounding potential listings on exchanges like Binance, Coinbase, and Kraken may drive further demand for Pi Coin, especially if these exchanges decide to list the token in the near future.

However, these gains may prove to be short-lived. Historically, newly listed tokens often experience volatility and heavy sell-offs, as early miners and investors look to cash out after years of accumulating the token. Additionally, if major exchange listings are delayed by days or even weeks, the current hype could lose momentum, leading to a potential cooling of price action. As the Pi Network’s community eagerly awaits more listings, the token’s price could experience further volatility in the days ahead.