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Pi Coin Price: The Pi Network Coin, which is the latest cryptocurrency to hit the market, on Friday witnessed a sharp decline of 62.63 per cent to $0.737 during the morning trade, compared with its peak of $1.97 after its listing on Thursday.
Pi Network is a Web3 blockchain project that allows users to mine the cryptocurrency on mobile phones, unlike Bitcoin that requires expensive mining equipment.
The Pi Network Coin, which is the latest cryptocurrency to hit the market, on Friday witnessed a sharp decline of 62.63 per cent to $0.737 during the morning trade (9:35 am IST), compared with its peak of $1.97 after its listing on Thursday. The Pi Network Coin, which is the first cryptocurrency to be mined on smartphones, can now be transferred outside its network following its Open Mainnet went live on Thursday. It is now listed on major exchanges like Binance, CoinDCX, OKX, and Bitget.
What Is Pi Network?
Pi Network is a Web3 blockchain project that allows users to mine the cryptocurrency on mobile phones, unlike Bitcoin that requires expensive mining equipment. The Pi Coins can be earned by just opening the app once daily.
It was started in 2019 by Stanford graduates.
According to Pi Network’s website, “Pi Network is a community of tens of millions of humans mining Pi cryptocurrency to use and build the Web3 app ecosystem.”
The Pi Network uses its energy-light mining method with its crowd-scaled KYC solution to provide access and identity verification for Web3. It is free to mine on mobile, putting power into the hands of people for a fairer, more distributed crypto.
The network is immutable, non-counterfeitable and uses interoperable digital money. The app does not drain the mobile battery, according to a livemint report.
Why Is Its Listing A Big News?
According to reports, around one crore users were already part of the Pi Network who were waiting to migrate their mined Pi Coins from the testnet to the mainnet, which finally comes after a delay of two years.
Pi Network has surpassed 110 million installations, with an average of 110,000 new downloads per day. On February 17, more than 540,000 new users joined the network.
Its listing has allowed the users to sell their mined coins on the crypto exchanges.
Sharing the news about the launch, Pi Network in a post on X on Wednesday said, “One day left before Open Network’s launch at 8:00AM UTC on February 20, 2025! The transition to Open Network will enable external connectivity on the Mainnet blockchain, allowing Pi to interface with other compliant networks and systems. This means Pioneers will be able to engage in transactions beyond the Pi ecosystem, expanding Pi’s utility and reach.”
How To Mine It On Mobile Phone?
Step 1: Download & Install the Pi Network app.
Step 2: Tap the lightning bolt icon to start mining, thus begin earning Pi.
After three days, add 3-5 trusted contacts to boost your mining rate. Refer Friends: Share your referral code to increase earnings.
How To Buy?
The Pi Network Coin is now listed on major exchanges like CoinDCX, OKX, and Bitget. Users need to install any of the app, complete KYC, and add money to the app’s wallet to buy the crypto.
Pi Network Price Prediction Mainnet Launch
According to Fortune India, if Pi Network evolves into a widely accepted digital currency with real-world use cases, its price could exceed $500 by 2030.
Bitcoin Price Today
According to CoinSwitch Markets Desk, the cryptocurrency market sentiment is turning bullish again as Bitcoin hit $98,000 without facing much trouble after crossing the hurdle at $96,200. “BTC is now likely to find a range between $98,000 and $102,000 before taking the next leg up.”
While BTC is about to cross 100,000 again, ETH is still sitting below $3,000, which is in fact a good 10% away with ETH struggling to cross the $2,800 mark with Bitcoin dominance finding a new floor at the 60 per cent mark, it added.
