Pi Network Boosts Mainnet Access as Pi Coin Price Wobbles

Pi Network, a mobile-first cryptocurrency project, unveiled new Mainnet wallet activation features, allowing verified users to engage directly with its blockchain ecosystem. The update, aimed at simplifying access for millions of identity-verified Pioneers, comes as Pi Coin (PI) trades at $0.62, down 3.4% in the past 24 hours, amid persistent token unlock pressures and unconfirmed exchange listing rumors.

The new features enable users who have completed full or partial Know Your Customer (KYC) verification to activate Mainnet wallets without waiting for full migration, a process previously tied to complex requirements. This update also allows non-Pioneers to join the ecosystem via third-party KYC platforms, broadening access to Pi’s decentralized applications (dApps).

The Pi Core Team emphasized that these changes enhance transparency, addressing community concerns about accessibility and exchange listings.

Since its 2019 launch, Pi Network has disrupted traditional crypto mining by enabling smartphone-based, low-energy mining, amassing over 60 million users. The Open Network launch on February 20, 2025, introduced real market trading, but Pi Coin’s price has struggled, dropping 79% from a $2.78 peak in February. A recent unlock of 4.8 million PI tokens, valued at $2.8 million, has fueled selling pressure, shrinking the market cap to $4 billion from a high of $12 billion.Community reactions are mixed. The update has sparked optimism, with some social media users predicting a price recovery to $1 if exchange listings materialize. Others express frustration over delayed KYC processes and limited dApp utility compared to competitors like Ethereum. A February 2025 Binance poll, where 88% of voters supported listing PI, has fueled speculation, though no confirmation has emerged.

Community reactions are mixed. The update has sparked optimism, with some social media users predicting a price recovery to $1 if exchange listings materialize. Others express frustration over delayed KYC processes and limited dApp utility compared to competitors like Ethereum. A February 2025 Binance poll, where 88% of voters supported listing PI, has fueled speculation, though no confirmation has emerged.

Financial analyst Crispus Nyaga commented,

“A Binance listing could spark a price rebound, but Pi must address token supply issues to sustain momentum.”

The upcoming Consensus 2025 Summit (May 14–16), featuring Pi founder Nicolas Kokkalis, may provide further clarity on listings and ecosystem growth.

Market data reflects volatility. Pi Coin’s Relative Strength Index (RSI) of 38.7 suggests a potential reversal, holding the $0.61 support level, but analysts warn of a drop to $0.50 without stronger demand. Trading volume rose 6.9% to $139.4 million last week, indicating active trading. Compared to Sui, with a $1.7 billion DeFi Total Value Locked, Pi’s ecosystem lags, posing challenges for investor confidence.

The update faces hurdles, including ongoing KYC delays and a 100 billion token supply that critics argue dilutes value. Pi’s success hinges on expanding dApp utility and securing major exchange listings. The Pi Ad Network’s recent opening to all ecosystem apps could drive developer interest, but tangible results are needed.

Pi Network’s wallet activation update strengthens its ecosystem, but Pi Coin’s price remains under pressure. Investors should monitor exchange listing developments and the Consensus Summit for potential catalysts. As Pi navigates tokenomics challenges, its ability to deliver real-world utility will determine its future trajectory.

FAQs

1. What is Pi Network’s new Mainnet wallet feature?

It allows verified users to activate Mainnet wallets, enabling direct access to Pi’s blockchain and dApps, with non-Pioneers joining via third-party KYC platforms.

2. Why is Pi Coin’s price dropping?

Pi Coin, at $0.60, is down due to a 4.8 million token unlock and concerns over a 100 billion token supply, increasing selling pressure.

3. Will Pi Coin be listed on Binance?

A Binance listing is unconfirmed despite community speculation from a February 2025 poll; verify updates through official channels.

Disclaimer: Price predictions and listing rumors are speculative. Verify details via official Pi Network channels