After a wait of six years and multiple delays, Pi Network officially launched its Open Network on February 20, 2025, at 16:00 (Beijing time). This milestone event marks the transition of Pi Coin from a closed test network ecosystem to a publicly tradable digital asset, becoming one of the most anticipated events in the cryptocurrency space in 2025.
This is a historic moment for over 50 million users worldwide, of which more than 19 million have completed KYC verification. Pi Network was founded in 2019 by a team of PhDs from Stanford University, lowering the participation threshold for cryptocurrency with its unique "mobile mining" model, aimed at allowing ordinary users to participate in cryptocurrency mining without the need for high-energy-consuming devices.
The specific date of the Mainnet launch and the official timeline.
The open Mainnet of Pi Network will officially launch on February 20, 2025, at 8:00 UTC, which is 16:00 Beijing time on the same day. This date marks the transition of Pi Network from the closed Mainnet phase to an open blockchain network, allowing external connections and transactions.
The process of launching the Mainnet is not accomplished overnight. The Pi Network has gone through several development stages: from the project launch and mobile app release in March 2019, to the testnet launch in March 2020, and then to the closed Mainnet launch in December 2021.
During the closed Mainnet period, users need to complete KYC (Know Your Customer) verification and transfer tokens to the Mainnet wallet. The original deadlines for KYC and token migration were postponed multiple times, finally set for March 14, 2025, at 8:00 UTC.
The uniqueness and technical foundation of Pi Network
The core innovation of Pi Network lies in its mobile mining mechanism and the application of the Stellar Consensus Protocol (SCP).
Unlike traditional cryptocurrency mining, which requires expensive specialized mining machines and a large amount of electricity, Pi Network allows users to participate in "mining" simply by clicking a button on their mobile app daily, significantly lowering the barriers to entry.
The network adopts the Stellar Consensus Protocol (SCP), which is a blockchain consensus mechanism based on the "Federated Byzantine Agreement" that verifies transactions through a "secure circle" established among users, achieving low energy consumption and high efficiency in blockchain consensus. This protocol typically requires only 2 to 5 seconds to confirm a transaction, and does not require all nodes to participate simultaneously, significantly reducing resource consumption.
Users in the Pi Network ecosystem are divided into four roles: regular users (pioneers), security circle contributors, promoters (ambassadors), and node operators. Each role receives corresponding rewards based on its contribution to the network.
Market performance and price fluctuations during the early stage of launch
The price performance of Pi Coin on the first day of its Mainnet launch was quite volatile. The opening price was around $0.1, and within the first hour, it soared to a historic high of between $2.88 and $2.99, an increase of over 2800%.
However, it subsequently faced significant selling pressure from early miners, with the price dropping to a low of $0.61 within 24 hours, ultimately closing around $0.68, a daily decline of approximately 78%.
This dramatic fluctuation is largely due to early users who obtained tokens through free mining choosing to take profits immediately after trading opened. As of March 1, 2025, the price of Pi Coin fluctuated between $0.76 and $1.60.
According to the latest data from the Gate platform as of September 11, 2025, the price of Pi coin is trading around $0.346, closely consolidating within a descending triangle. The support level is in the range of $0.344 to $0.347, and the resistance level is between $0.352 and $0.368.
Exchange Launch Status
On the day of the Mainnet launch, several international cryptocurrency exchanges quickly launched Pi coin trading services: Gate supports the PI/USDT trading pair and perpetual contract trading, with a trading volume exceeding 1 billion dollars on the first day.
It is worth noting that although Binance gauged the willingness to list Pi Coin through a community vote (with a support rate of 86% and nearly 295,000 users participating) from February 17 to February 27, as of September, Binance has not yet confirmed the listing and is still in the internal review stage.
Future Price Predictions and Market Outlook
Analysts on the future of Pi coin Price trend There are certain discrepancies. The average price forecast for 2025 is expected to be around $0.3588, with a fluctuation range possibly between $0.2081 and $0.427.
Some analysts believe that if a key resistance is broken, it may test the area between 1.25 and 1.30 dollars. Recent analyses have pointed out that the price of Pi coin has formed an "Adam and Eve bottom" pattern, which is a bullish pattern predicting that if the resistance level is broken, the price may head towards 1.20 dollars.
The market capitalization of Pi Network currently reaches 4 billion USD, with a circulating supply of 6.84 billion Pi coins, ranking 27th globally by market cap.
Potential challenges and risk factors
Pi Network faces several significant challenges and risk factors. Its total supply cap is 10 billion tokens, and if calculated at $1, its fully diluted valuation (FDV) could reach $10 billion, which is equivalent to one-third of Ethereum’s current market value, raising concerns about valuation bubbles.
In August 2025, 160 million Pi will be unlocked, which may lead to an oversupply in the market and increase selling pressure. The repeated delays in the launch of the Mainnet have also caused a trust crisis within parts of the community.
In terms of regulation, the KYC requirements of Pi Network excessively collect user data (including ID cards, facial recognition, proof of residence), posing a risk of data leakage. In certain countries, its social invitation model has also been questioned for potentially involving pyramid scheme activities.
Future Outlook
With the upgrade of the protocol and the introduction of wallet security measures, Pi Network is attempting to address some technical bottlenecks. The network currently has established 200,000 active nodes and developed over 100 Mainnet-ready applications.
The future value of Pi Coin no longer relies on the mining mechanism, but rather on whether it can establish a true economic ecosystem. Only by forming actual application scenarios and a stable value circulation can the Pi Network transform from a social experiment into a genuine decentralized financial network.
