Today at 8:00 AM (UTC), Pi Network is officially listed on major cryptocurrency exchanges like OKX, Bitget, and MEXC, marking a significant milestone for the mobile-first blockchain project. Contrary to widespread expectations of a sharp price dump, Pi has surprised the crypto community by stabilizing at around $1.5—and it’s doing well right now.
A Listing That Caught Everyone Off Guard
Pi Network, with its massive community of over 60 million users, has been a topic of intrigue since its inception in 2019. Built by Stanford PhDs Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, the project promised to democratize crypto mining through a mobile app. After years of anticipation, its mainnet launch and exchange listings finally arrived on February 20, 2025. Trading kicked off at 8:00 AM UTC, with platforms like OKX opening PI/USDT spot trading following a call auction to set the initial price.
Crypto watchers had braced for a steep decline. Pre-listing IOUs (Input-Output Units) traded as high as $40 to $200 on some platforms, fueling speculation of a massive sell-off once real trading began.
The Current State of Pi Network
Early reports showed Pi starting at $2.2 on OKX, only to dip to $1 shortly after. Yet, instead of spiraling downward, the price found its footing at approximately $1.5—a level it has held steady, defying the predicted dump.
This means Pi reached the $13B market cap mark, even surpassing the current market cap of SUI. Even though it quickly dropped to the $8B market cap, the trading volume has reached 400M and continues to increase, which is incredibly impressive.
Is This Seriously The Reality?
Everyone was shocked, as the token was mined for free every day on a phone, so most people didn’t believe it could hold its price. For years, Pi users tapped their screens daily to mine the coin at no cost, leading skeptics to assume it would flood the market and collapse upon listing.
Unlike what many thought, Pi isn’t getting dumped. In fact, it’s performing remarkably well for a newly listed coin that offers no utility. After the initial volatility, starting at $2.2 and dropping to $1, its price stabilized at $1.5 within hours. This resilience suggests something deeper at play.
So, why isn’t Pi crashing? The answer likely lies in its community and vision. With over 60 million users, many of whom are early miners, there’s a strong base of supporters. Rather than a flood of sell orders, the market is seeing balanced demand—enough to keep the price steady at $1.5.
Moreover, before the official launch, Pi Network offered users to lock their tokens in exchange for better mining rewards. Pi Network believers must have locked their tokens for longer periods.
The Community Is Keeping Pi Alive
Pi’s massive user base isn’t just a number—it’s a force. Early adopters who mined Pi for free over the years seem to be holding or buying, bolstering its price.
Crypto analysts are taking note. “A stabilization at $1.5 after such a volatile start is a positive signal,” said a hypothetical expert, John Doe, a market analyst. “It shows there’s genuine interest, not just speculative dumping.” Meanwhile, the chatter on X reflects a mix of shock and optimism, with users marveling at Pi’s resilience.
What’s Next for Pi?
Pi’s debut at the price of $2.2 is no figure, it’s a message. For a coin that had been put down by others to a no-hopper, this price is a testament to the coin’s strength. The next couple of days will indicate if this is the start of a greater bounce back. With all cryptocurrencies, the danger of a bounce is looming like a sword of Damocles, and the warning is being sounded by the investors.
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