Pi Network’s Pi Coin Price Surges 36% After Mainnet Launch

February 21, 2025 — After years of anticipation, Pi Network has officially launched its Open Mainnet, marking a historic milestone for the mobile-mined cryptocurrency. Within the first hour of trading on February 20, 2025, Pi Coin (PI) saw its price surge by an impressive 36.8%, peaking at $1.97, according to data from CoinGecko. The launch, which occurred at 8:00 AM UTC (1:30 PM IST), has ignited excitement across the global crypto community, with millions of users now able to trade and transfer their long-mined tokens on major exchanges.

Pi Network, developed by a team including Stanford PhD scholars, has garnered a massive following since its inception over six years ago, boasting over 10 million users who have mined Pi Coins via a unique tap-to-earn mobile app. The transition from an enclosed Mainnet phase, which began in December 2021, to a fully decentralized Open Mainnet has unlocked external blockchain connectivity, enabling transactions beyond the Pi ecosystem for the first time. This shift has paved the way for listings on prominent cryptocurrency exchanges such as OKX, Bitget, HTX, Bybit, MEXC, Gate.io, and BitMart, fueling the initial price rally.

The launch saw Pi Coin debut with significant volatility. Trading opened with an initial price of around $1.24, quickly climbing to a high of $3.40 on Bitget before stabilizing at approximately $1.80 on OKX and $1.78 on Bitget by mid-day. This marked a stark contrast to speculative IOU (I Owe You) prices that had hovered between $61 and $100 on some platforms just days prior to the launch, reflecting the pent-up anticipation among early adopters. However, analysts note that the rapid surge was followed by profit-taking from early miners, contributing to the subsequent price correction.

Market reactions have been mixed but undeniably enthusiastic. Trading volumes soared past $100 million within hours on OKX alone, underscoring the immense interest in Pi Coin’s market entry. “The 36% surge in the first hour demonstrates the hype surrounding Pi Network’s Mainnet launch,” said a crypto analyst from CoinGape. “Yet, the volatility highlights the challenges ahead—sustained growth will depend on adoption, listings on top-tier exchanges like Binance, and broader market confidence.”

The Pi Network team celebrated the launch on social media, stating, “The transition to Open Network enables external connectivity on the Mainnet blockchain, allowing Pi to interface with other compliant networks and systems.” This development is seen as a game-changer for a project that has emphasized accessibility, requiring only a smartphone to mine rather than energy-intensive hardware. With over 100 Mainnet-ready applications already integrated into its ecosystem, including tools for local commerce and payments, Pi Network aims to position itself as a scalable, real-world cryptocurrency.

Despite the optimism, challenges loom. Early reports suggest that only about 1 billion of the estimated 9.7 billion Pi tokens are currently available for trading, with the remainder locked in users’ wallets, to be released gradually. This limited supply, combined with massive demand, could drive further price spikes, but experts caution that a large-scale sell-off by early miners remains a risk. Additionally, while major exchanges have embraced Pi Coin, Binance—the world’s largest crypto exchange—has yet to confirm a listing, instead conducting a poll to gauge community interest.

Speculation about Pi Coin’s future price trajectory is rife. Some analysts predict that breaking the $100 psychological barrier could propel it toward $150 or higher if sustained demand and exchange listings materialize. Others, however, warn of a potential drop to $40-$50 if the initial hype fades. “The launch is a pivotal moment, but Pi’s success hinges on real-world utility and regulatory clarity,” noted a market commentator from The Economic Times.

For the millions of “Pioneers” who have mined Pi over the years, the Mainnet launch represents the culmination of a long wait. As trading continues, the crypto world watches closely to see whether Pi Coin can maintain its momentum and carve out a lasting place in the competitive cryptocurrency landscape.

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Disclaimer: The information presented here may express the authors personal views and is based on prevailing market conditions. Please perform your own due diligence before investing in cryptocurrencies. Neither the author nor the publication holds responsibility for any financial losses sustained.