Pi Network’s Mainnet Goes Live After Six Years of Development
The post Pi Network’s Mainnet Goes Live After Six Years of Development appeared on BitcoinEthereumNews.com.
TLDR Pi Network launched its Open Mainnet on February 20, 2025, enabling users to conduct transactions outside its ecosystem after 6 years of development The Pi (PI) token initially surged 45% to $2.10 before crashing over 52% to $1.01, with trading volume increasing by 1,700% The project has faced regulatory challenges and skepticism, with some authorities labeling it a scam in 2023, though it received 85% community support in a Binance listing vote Major exchanges including OKX, MEXC, and Gate.io have confirmed PI listings, with Bitget offering futures trading With a total supply of 9.7 billion tokens out of 100 billion maximum, concerns exist about potential price pressure from future token releases Pi Network, the mobile-based cryptocurrency mining project, launched its Open Mainnet on February 20, 2025, marking a major transition after six years of development. The launch enables users to conduct transactions beyond the Pi ecosystem and interact with external networks on the Mainnet blockchain. The project, which began in 2019, allows users to mine cryptocurrency through a mobile app without requiring energy-intensive hardware. This approach has attracted tens of millions of users who see it as an accessible alternative to traditional cryptocurrency mining methods. The launch day saw immediate market activity, with the Pi token (PI) experiencing sharp price movements. Within the first hour of trading, the price jumped 45% to reach $2.10. Trading volume surged by more than 1,700% as investors rushed to participate in the market. Pioneers, Open Network will launch at 8am UTC on February 20, 2025! With millions of KYC-verified Pioneers and a thriving utilities-driven ecosystem, Open Network expands available opportunities, which allows Pioneers to connect Pi with external systems for use in real-world… pic.twitter.com/AdpXNhpcUD — Pi Network (@PiCoreTeam) February 11, 2025 However, the initial enthusiasm proved short-lived. The price dropped by 52% within…
Filed under: News - @ February 21, 2025 2:28 pm