Pi Network Coming after our contract and holder checks finish for this coin. See the Scorecard for every call so far.
What it is
Pi Network began in 2019 as a phone app that let people tap a button each day to earn Pi, which the project called mining. The app does not mine in the Bitcoin sense; balances were credited by the project based on activity and referrals. For years the coins could not be moved to outside exchanges, and the project built a very large user base, especially in Asia and Africa.
The open mainnet launched on February 20, 2025, and PI began trading on exchanges including OKX and Bitget; Kraken added it in March 2026. To move coins from the app to the main network, users must pass identity checks. Those who cannot complete them lose their mined balance, and coins that do migrate often face a further lockup period before they can be sold.
The maximum supply is 100 billion PI. About 65% was set aside for user mining rewards, 20% for the core team, 10% for a foundation reserve and 5% for liquidity. In 2026 only around 9 billion PI was estimated to be freely tradable, with hundreds of millions more unlocking each month. PI's price peaked near $3 shortly after launch, then fell more than 90%.
What can go wrong
- Large amounts of locked and unmigrated PI are scheduled to enter circulation over time, creating ongoing selling pressure.
- The core team and foundation together control about 30% of the maximum supply, and governance is highly centralized.
- Binance and Coinbase had not listed PI as of mid-2026, and liquidity is concentrated on a few platforms.
- The project's popularity has attracted scams, including fake wallets, fake migration services and phishing attempts aimed at Pi users.
Never enter your Pi wallet passphrase into any website or app other than the official Pi app; anyone who has it can take your coins.
Safety checks
- Track recordCautionTrading since 2025, about 1 year. It hasn't been through a full market cycle yet, so treat its history as short.
- Trading activityRed flag$3.4 million traded in the last 24 hours, 0.4% of its market value. Very little of it trades each day. Prices on thin coins can drop hard when someone sells.
- Coins still to comeRed flag11.27 billion of 100.00 billion maximum coins are in circulation, so about 89% are still to be released. A large share hasn't been released yet. Unlocks for insiders and early backers are a common reason prices fall.
- Distance from its peakRed flagDown 97% from its all-time high of $2.99 in February 2025. Most people who bought near the top have lost most of their money. A big drop doesn't make a coin cheap.
- Past yearFor context−61.8% over the past year, against −25.3% for bitcoin. It has done worse than simply holding bitcoin.
History of trouble and big events
- Feb 20, 2025: Open mainnet launched and PI began trading on exchanges.
- 2026: Price fell more than 95% below its February 2025 peak of about $3.
Holding a token on a smaller network, or got sent one you don't recognize? Run its address through the free checker. Copycat tokens often borrow big names.