Pi Coin ($PI) the native token of the Pi Network tanked soon after the Pi Network mainnet went live. Let us take a deep dive into the Pi Network, and why the Pi Coin tanked.
A Deep Dive Into The Pi Network
The Pi Network has been a hot topic of discussion within crypto circles for years. One unique aspect of this project is that it supported mobile-based mining, attracting millions of people into the crypto revolution without the need to purchase expensive mining hardware.
Pi Network is designed to be a coin for everyone, with a low entry barrier that uses the Stellar Consensus Protocol (SCP). Its goal is to become a decentralized digital ecosystem powered by Pi.
On February 20, 2025, the $PI Mainnet was launched, allowing anyone to transact Pi on exchanges, and use it to purchase goods and services. Following the mainnet launch, pioneers who complete the KYC process can migrate to the mainnet. The team has provided up to February 28, 2025 for Pi pioneers to make the move. Thus far, around 10 million accounts have migrated to the mainnet.
Pi Coin Exchange Listing
Following the Mainnet launch, Pi Coin could get widespread exposure. Many mainstream exchanges have announced plans to list the coin. On February 17, 2025, Binance launched a community vote to decide whether it would list Pi. The vote will conclude in 6 days, after which Pi will most likely be listed on the platform.
Pi Network Real World Use Cases
One of the biggest factors that will determine the long-term success is widespread adoption. The Pi Network team is working on an ecosystem where Pi can be used to buy goods, services, and apps. If successful, it could make $PI one of the most successful crypto projects.
Pi Coin (PI) Market Performance
Following the mainnet launch, the price of $PI has been in decline, falling 60.64% to $0.6692. In the past 24 hours, the price has fallen 27.68%. It has a market cap of $4.22B, and a fully dilute value of $67B. The 24-hour trading volume has tanked 23.2% to $644.3M.
$PI opened trading on February 20, 2025, at $2.10 and has since tanked 68.2%. On the same day, it sank to its all-time low of $0.6152 and has since recovered 8.36%. The token is currently listed on OKX, Bitget, and Gate.io.
Social Media Following
Over the years, Pi Network has developed a huge online following. It currently has 3.8 million followers on X and 3.2 million subscribers on the Pi Network Telegram page.
Should You Add PI To Your Portfolio?
Pi Coin is one of the biggest non-meme coin projects to launch in 2025. As meme coin fatigue sets in, $PI could find an audience among crypto enthusiasts looking for projects with real-world utility. Additionally, its low entry barrier, including the ability to mine PI with a smartphone processor, could potentially lead to widespread adoption.
The developer team has also been committed to its development for years, which signals they will continue to support it for years to come. Coupled with a crypto-friendly Trump administration, 2025 could potentially be the year for $PI to shine.
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