Cryptocurrency PI Network: Know Everything Including Trade And Its Crash!

Pi Network has officially launched its Open Mainnet, marking a significant step for this mobile-mineable cryptocurrency. But what exactly is Pi Network? How do you trade it? And why did its price experience a drop after launch? This blog explores everything you need to know about cryptocurrency Pi Network, from its concept to its future potential.

This comprehensive overview will delve into Pi Network’s purpose, its mainnet launch details, how to buy and trade Pi, the reasons behind its price fluctuation, and its potential use cases.

What is Pi Network? Mining Crypto on Your Phone

Mobile-First Mining: Pi Network aims to democratize cryptocurrency mining by making it accessible on smartphones. Users can mine Pi by simply tapping a button on the Pi app daily, without draining their phone’s battery.
Simplified Crypto: Unlike Bitcoin mining, which requires specialized hardware and significant energy consumption, Pi’s mobile mining approach is designed to be user-friendly and eco-friendly.
Community-Driven: Pi Network emphasizes its decentralized and community-driven nature. It aims to create a digital currency owned and governed by its users.
Massive User Base: Pi Network has attracted a large global user base, with millions of “Pioneers” mining Pi.

Pi Network is a unique cryptocurrency project that focuses on mobile accessibility, ease of use, and community involvement.

Pi Network Mainnet: A New Era

Open Mainnet Launch: Pi Network transitioned to Open Mainnet on February 20, 2025. This allows Pi to interact with other blockchains and become tradable on exchanges.
External Transactions: Users can now send and receive Pi outside the Pi Network ecosystem.
Exchange Trading: Pi is now listed on several cryptocurrency exchanges, enabling users to buy and sell Pi.
KYC and Migration: Users who have completed the Know Your Customer (KYC) verification process can migrate their Pi from the enclosed network to the Open Mainnet.
Increased Utility: The Open Mainnet launch is expected to increase Pi’s utility through real-world applications and business integrations.

The Open Mainnet launch is a pivotal moment for Pi Network, marking its transition from a closed ecosystem to a fully functional and tradable cryptocurrency.

How to Buy and Trade Pi: A Step-by-Step Guide

Choose an Exchange: Select a reputable cryptocurrency exchange that lists Pi, such as OKX or Bitget.
Create and Verify Account: Sign up for an account on the chosen exchange and complete the KYC verification process, which typically involves submitting identification documents.
Deposit Funds: Deposit USDT (Tether) into your exchange account, as Pi is generally traded against USDT. You can acquire USDT through various methods, including credit cards or bank transfers.
Place a Buy Order: Navigate to the PI/USDT trading pair on the exchange. Choose between a Market Order (for an immediate purchase at the current market price) or a Limit Order (to set a specific price you’re willing to buy at). Enter the amount of Pi you wish to purchase and confirm the transaction.
Secure Your Pi: Transfer your purchased Pi coins to a secure cryptocurrency wallet that supports the Pi Network.

Trading Pi involves a standard process similar to trading other cryptocurrencies on exchanges.

Why Did Pi’s Price Crash? Factors Affecting Value

Inflated Pre-Launch Prices: Before the Open Mainnet launch, Pi IOUs (I Owe You) traded at significantly inflated prices on some exchanges, creating unrealistic expectations among investors.
Speculative Bubble: The inflated pre-launch prices likely created a speculative bubble, which burst when the actual trading price was revealed.
Early Adopter Sell-Off: Early Pi miners and adopters may have sold off their holdings after the launch, contributing to the price drop.
Market Dynamics: The price of any cryptocurrency is influenced by various market factors, including supply and demand, investor sentiment, and overall market conditions.
Uncertainty About Future: Concerns about Pi’s long-term prospects and its adoption by businesses may have also contributed to the price decline.

The price drop after the Open Mainnet launch highlights the volatility of cryptocurrency markets and the influence of speculation and early adopter behavior.

Potential Use Cases: The Future of Pi

Payment Solution: Pi Network aims to become a widely used digital currency for online shopping, in-person transactions, and peer-to-peer payments.
Decentralized Applications (DApps): Developers can build decentralized applications on the Pi Network blockchain, potentially increasing the utility and value of Pi.
Staking and Rewards: Future developments may include staking mechanisms, allowing users to earn rewards by holding Pi.
Business Integrations: Increased adoption by businesses accepting Pi as payment would further enhance its value and utility.

Pi Network’s future potential lies in its ability to become a widely adopted payment solution, host DApps, and integrate with businesses.

Market Capitalization: A Key Metric

Market Cap: Market capitalization is calculated by multiplying the circulating supply of a cryptocurrency by its current price.
Importance: Market cap is a key metric for understanding the overall value and size of a cryptocurrency.
Pi Network’s Market Cap: Pi Network’s market capitalization will be determined once the circulating supply is established and the price stabilizes after the Open Mainnet launch.

Market capitalization provides a snapshot of the total value of Pi in the cryptocurrency market.

FAQs: Cryptocurrency PI Network

Is Pi Network a scam?
Pi Network is a legitimate project with a large user base. However, the value of Pi is determined by the market.
Can I sell Pi immediately after the Mainnet launch?
Yes, you can sell Pi on exchanges that list it after completing KYC and migrating your coins.
What happens if I haven’t completed KYC?
You need to complete KYC to migrate your Pi to the Mainnet wallet and trade it.
What will the price of Pi be?
The market determines the price of Pi once trading begins. There is no official price before trading.
Is Pi mining still available?
Yes, but the mining rate decreases as the network grows.

Conclusion: Pi Network’s Journey Continues

The Pi Network Open Mainnet launch is a significant milestone, but it’s just the beginning of Pi’s journey. The project faces challenges, including price volatility and the need for wider adoption. Whether Pi achieves its goal of becoming a widely used digital currency remains to be seen. The cryptocurrency world will be watching closely as Pi Network evolves and develops in the years to come.