The long-awaited Pi Network mainnet launch finally went live on February 20, 2025, marking a significant milestone for the blockchain-based project. However, excitement quickly turned to shock as the Pi Coin price plummeted by 98% just before the launch, leaving many investors scrambling for answers.
According to Moneycontrol, the token’s value nosedived on unofficial exchanges, dropping from speculative highs of $300 per coin to under $5 within hours. This steep decline sparked concerns over the coin’s valuation and the speculative frenzy that had built up prior to the mainnet launch.
The Pi Network, a project launched in 2019 by a team of Stanford graduates, aimed to make cryptocurrency accessible to everyday users via mobile mining, allowing users to mine tokens on their smartphones without consuming excessive power. For years, Pi remained in a pre-mainnet phase, with users accumulating coins they couldn’t trade on major platforms. The mainnet launch was expected to finally provide liquidity, but the pre-launch price collapse caught many off guard.
Despite the setback, the launch proceeded as planned, with The Economic Times reporting that Pi Core Team is optimistic about the network’s future, emphasizing the coin’s long-term utility over short-term price movements.
Additionally, Times Now confirmed that discussions are ongoing with major exchanges like Binance for official listings, though no confirmed listing date has been announced.
Pi Network’s official X account also reassured users, posting that the team remains committed to expanding the ecosystem and prioritizing security and decentralization (Pi Core Team).
While the price drop has rattled early adopters, blockchain analysts believe Pi Network’s unique approach to mobile mining and its massive user base of over 47 million pioneers could still drive long-term growth—but the road ahead will require building real-world use cases beyond hype.
