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On the 20th of February, the Pi Network launched its Open Mainnet. This marked a major shift from the previous enclosed mainnet which had restricted external connectivity
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This month, a new unlocking of 276 millions PI tokens will take place. This represents about 3.5% of circulating supply
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Although the PI token has been listed on OKX, Bitget and other exchanges, mainstream exchanges such as Binance and Coinbase have not yet listed it
It’s not a secret that Pi Network has struggled in the past and has often been the target of negative press due to its failures to deliver on its promises. In February, Pi Network launched its Open Mainnet. This marked a major shift from the previous enclosed mainnet which restricted external connectivity.
This opened up a number of notable options, such as cross-platform transactions and dApp deployment.
More than 13 million users have already moved their accounts onto the mainnet. A new event, scheduled for this month, could have a major impact on Pi Network. A total of 276,000,000 PI tokens, or 3.5% of the current supply, are about to be released.
According to historical data and past trends, large-scale unlocks have increased market supply, and led to price decreases. One previous event saw a 34% decline in two months.
The PI token is doing well, with a 10% increase in the last seven days.
This is our full report about the recent 10% increase.
This is probably due to the increase in mobile mining, and Pi Network’s mobile first design. The company has consistently highlighted this as a primary driver for widespread user adoption.
What the future holds
Pi Network’s mobile first approach and all of the changes that have happened in the past few months (from DApp deployment to public nodes) could lead to some positives for the PI token in the near future.
The road to success will not be easy. One of the biggest issues is that PI has not been listed on any mainstream exchanges yet. The token is available on OKX, Bitget and other exchanges, but major names like Binance and Coinbase have not listed it yet due to concerns over governance centralization, token functionality, and regulatory compliance.
PI’s adoption and liquidity are limited by the lack of major exchange listings, despite community interest and support from mid-tier exchanges. If PI gets a listing soon, it will likely have a major impact on its price and popularity.
The Pi team has been consistent with its upgrades. Here’s a past analysis of how Stellar’s integration and update could be a game changer for Pi.
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