The newly launched Pi Coin has seen a highly volatile market response following its official listing on major cryptocurrency exchanges. On its debut, the coin surged past the $2 mark before experiencing a sharp decline, dropping by nearly 71% on the same day. Despite the initial setback, Pi Network remains one of the most discussed cryptocurrencies on social media, with many users expressing optimism about its long-term potential.
Pi Coin, originally introduced as a mobile-mined cryptocurrency, has gathered a massive user base since its inception in 2019 by Stanford graduates. Unlike Bitcoin, which requires expensive mining hardware, Pi Coin allows users to mine directly from their smartphones by simply opening the Pi Network app once a day. This accessibility has contributed to its widespread adoption, with millions of users worldwide mining and holding the cryptocurrency.
Following years of development, Pi Network finally launched its Open Mainnet on February 20, 2025, allowing users to transfer and trade their mined Pi Coins on exchanges for the first time. Prior to this, Pi remained within a closed ecosystem where external transactions were restricted. Now, with its listing on popular exchanges like Binance, CoinDCX, OKX, and Bitget, Pi holders can engage in buying, selling, and exchanging their coins freely.
However, the launch has been accompanied by intense price fluctuations. On its listing day, Pi Coin touched an all-time high of $2.10, only to crash to a low of $0.6152 within hours. As of February 21, 2025, the coin is trading between $0.60 and $0.70, reflecting a 58.6% decline in 24 hours. Despite this, trading volume has surged dramatically, reaching $1.31 billion, indicating strong market activity. The current market capitalization stands at $4.25 billion.
Crypto analysts have mixed opinions on Pi Coin’s future. Some believe that the large-scale selling pressure is temporary and that as demand stabilizes, the price could recover. Others caution that without substantial investment from institutional players, Pi Coin may struggle to regain its initial highs.
Understanding Pi Coin’s Market Performance
Pi Network operates on a unique economic model. Unlike traditional cryptocurrencies that have fixed mining mechanisms, Pi uses a declining token issuance model, meaning mining rewards decrease over time as more users join the network. This approach is designed to ensure scarcity and long-term value appreciation.
The total supply of Pi is expected to reach 100 billion, with the current circulating supply reported at 6.31 billion. A key milestone for Pi Network was achieving 10.14 million Mainnet migrations, surpassing the original 10 million goal. According to the Pi Network team, over 19 million verified pioneers have already completed their Know Your Customer (KYC) process, allowing them to transfer their Pi holdings to the Mainnet.
How to Trade Pi Coin
Trading Pi Coin on exchanges requires users to first complete their KYC verification to ensure compliance with regulatory requirements. Once verified, users can migrate their mined Pi Coins from the Pi Network app to an external crypto exchange where Pi is listed. Exchanges that currently support Pi trading include OKX, Bitget, Bitrue, HTX, and BitMart.
After transferring Pi Coins to an exchange, users can proceed with the following steps:
- Selecting a Trading Pair: Users can trade Pi Coin against USDT (Tether) or other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).
- Placing a Trade Order: Traders can choose between market orders, where Pi Coins are bought or sold instantly at the current price, or limit orders, which allow users to set their own desired price.
- Monitoring Price Movements: Given the extreme volatility of Pi Coin, traders should monitor price trends and adjust their trading strategies accordingly.
Market analysts have observed that selling pressure remains high, with many early adopters offloading their Pi holdings, leading to price drops. However, some experts argue that once the majority of sellers exit the market, demand could stabilize, potentially driving prices higher.
How to Cash Out Pi Coin
For users looking to cash out their Pi Coins, the process involves selling them on an exchange and withdrawing the proceeds. Once Pi Coins are deposited into an exchange wallet, users can place a sell order to convert their holdings into fiat currency (such as USD, EUR, or INR) or another cryptocurrency like Bitcoin or Ethereum. After completing the sale, users can withdraw their money directly to their bank account or transfer it to another crypto wallet. Some exchanges offer peer-to-peer (P2P) trading, allowing users to sell Pi Coins directly to other buyers for their local currency.
Cashing out Pi Coin is currently limited by the availability of trading pairs and liquidity. Since Pi Network is still in its early stages of Open Mainnet, transaction volumes may fluctuate, affecting the ease of withdrawals.
Market Reactions and Predictions
Pi Coin’s launch has sparked intense discussions within the crypto community. Many believe that Pi’s accessibility and Web3 integration could drive long-term adoption, while skeptics argue that its current trading behavior mirrors that of speculative assets with no immediate utility.
Other market analysts suggest that Pi Coin’s price trajectory will depend on its real-world adoption. If businesses and platforms begin accepting Pi as a form of payment, demand could increase, supporting price stability.
According to Fortune India, if Pi Coin achieves widespread use cases and gains adoption beyond speculative trading, its price could exceed $500 by 2030. However, this remains highly speculative, as the crypto market is unpredictable, and regulatory challenges could impact its growth.
