Pi Network's Open Mainnet Launch and Market Reactions

The Pi Network, a cryptocurrency project that allows users to mine Pi coins through mobile devices, reached a significant milestone with the launch of its Open Mainnet on February 20, 2025. This transition enables external blockchain connectivity, allowing transactions beyond the previously closed Pi Network ecosystem. As a result, Pi Coin has been listed on several major cryptocurrency exchanges, including OKX, Gate.io, Bitget, and CoinDCX, facilitating active trading and valuation in the open market.

Despite the excitement surrounding the Mainnet launch, Pi Coin's market performance has been highly volatile. Initially, it traded at $1.50 on OKX and $1.90 on Bitget, but within just 24 hours, the price declined sharply. The Pi IOU token dropped by over 65%, while the actual Pi Coin lost 15% of its value. This downturn was primarily due to early adopters selling their holdings and the absence of listings on major exchanges like Binance, which could have provided better liquidity and credibility.

The community response to the Open Mainnet launch has been mixed. While many users celebrated their ability to trade Pi Coin openly for the first time, others expressed disappointment over the lower-than-expected prices and limited exchange listings. Additionally, skepticism about the project's legitimacy has grown. Notably, Bybit CEO Ben Zhou labeled Pi Network a "scam", stating that Bybit will not list the Pi Coin.

Looking ahead, the future of Pi Coin depends on several factors, including broader adoption, securing listings on top exchanges, and building market confidence. While some analysts speculate that Pi Coin could reach $163 by 2025, these predictions remain highly speculative and will depend on market trends, regulatory developments, and real-world use cases.

In conclusion, while the Open Mainnet launch is a pivotal moment for Pi Network, the immediate market reactions highlight significant challenges ahead. For long-term success, Pi Network must strengthen its ecosystem, secure major exchange listings, and build transparency to gain trust within the cryptocurrency community. Whether Pi Coin becomes a game-changer or a short-lived hype remains uncertain.