The Pi token, native to Pi Network’s Open Network, is gaining significant momentum as it approaches its official Mainnet launch. With multiple top-tier cryptocurrency exchanges confirming listings, anticipation is building around one of the most talked-about blockchain projects in recent years.
Set to transition into the Open Network phase on February 20, 2025, Pi Network has officially entered a critical stage in its evolution. This shift marks the moment when the long-awaited Mainnet becomes publicly accessible, enabling real-world transactions and broader ecosystem integration.
Major Exchanges Confirm Pi Token Listings
In a strong endorsement of Pi’s growing legitimacy, several leading crypto exchanges have announced official support for the Pi token.
OKX, one of the world’s largest digital asset platforms, confirmed plans to list Pi ahead of the Open Network launch. This move signals confidence in Pi’s technical readiness and market demand. Shortly after, Bitget followed suit, introducing the PI/USDT trading pair, allowing users to trade Pi against Tether.
While deposit details for Bitget are still pending, the listing itself reflects growing institutional interest. Today, MEXC also joined the wave, officially announcing the addition of Pi to its trading platform. These coordinated listings across major exchanges highlight a unified effort to onboard Pi into the global crypto economy.
However, not all exchanges are approaching the launch the same way.
HTX Takes a Different Stance on Pi IOUs
HTX (formerly Huobi) has adopted a more cautious strategy. With just days before the Mainnet goes live, HTX announced the expiration of its Pi IOU (I Owe You) trading. On February 13, the exchange delisted Pi IOUs and suspended all related trading services.
For affected users, HTX provided compensation based on the halt price—the final recorded trading value before suspension. At the time, Pi IOUs were converted to Tether (USDT) at a rate of 1:61.28.
This decision underscores HTX’s commitment to regulatory clarity and risk management. Once the Pi Mainnet is live, HTX plans to list the authentic Pi token and open spot trading services, aligning with other major platforms.
Market Reaction: Bullish Sentiment Amid Volatility Concerns
Despite mixed signals from exchanges, market sentiment remains largely positive. Following the Open Network announcement, Pi IOU prices surged to an all-time high of $71.20, reflecting strong investor enthusiasm.
As of this writing, the price has settled around $61.20**, indicating some stabilization but also potential caution among traders. According to market analysis, the expected trading range for Pi at launch is projected between **$40.80 and $68.70.
This volatility is not unexpected. Experts warn that Pi’s user base—composed largely of non-technical, early-stage crypto adopters—could contribute to erratic market behavior. Sudden price swings and panic selling may occur if users react emotionally to short-term fluctuations.
Additionally, concerns persist about Pi Network’s structure. Its referral-based growth model resembles multi-level marketing (MLM), raising legal and ethical questions in certain jurisdictions. While no formal charges have been filed, regulators continue to monitor the project closely.
Key Risks and Analyst Warnings
Not all industry leaders are welcoming Pi with open arms. Ben Zhou, CEO of Bybit, publicly expressed skepticism about listing or supporting Pi Network. His concerns echo those of several analysts who question the project’s long-term sustainability and transparency.
Moreover, critics argue that early price speculation—especially around IOUs—is misleading. IOUs are not official tokens but placeholders traded on third-party markets. Their value does not guarantee post-launch performance.
Still, the fact that reputable exchanges like OKX and MEXC are preparing for real token integration suggests growing confidence in Pi’s underlying infrastructure.
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What This Means for the Future of Pi Network
The upcoming Open Network launch represents a pivotal moment for Pi Network. For years, millions of users have mined Pi through their mobile devices without access to liquid markets. Now, with real exchange listings on the horizon, the project is transitioning from concept to reality.
Successful integration into major trading platforms could boost adoption, liquidity, and developer interest. Conversely, any technical hiccups or negative price action at launch could undermine trust.
Core challenges remain:
- Ensuring network security and scalability
- Educating users about responsible trading
- Addressing regulatory scrutiny
- Building real utility beyond speculation
Yet, if Pi can deliver on its promises of accessibility and decentralization, it may carve out a unique space in the crypto landscape.
Frequently Asked Questions (FAQ)
Q: What is Pi Network’s Open Network phase?
A: The Open Network phase begins on February 20, 2025, marking Pi Network’s full Mainnet launch. It allows public participation, real transactions, and integration with external exchanges and decentralized applications.
Q: Are Pi IOUs the same as real Pi tokens?
A: No. IOUs (I Owe You) are speculative instruments created by third-party exchanges. They represent anticipated value but are not official tokens issued by Pi Network. Real Pi tokens will only exist after Mainnet activation.
Q: Why did HTX delist Pi IOUs?
A: HTX delisted Pi IOUs to comply with risk management policies ahead of the Mainnet launch. Users received USDT based on the halt price of $61.28 per Pi IOU. The exchange intends to list genuine Pi tokens once available.
Q: Can I buy real Pi tokens now?
A: Not yet. Real Pi tokens cannot be bought or sold until after the Open Network launch on February 20, 2025. Any current trading involves IOUs, which carry higher risk and no guarantee of future value.
Q: Is Pi Network a scam or pyramid scheme?
A: While Pi Network uses a referral system that resembles MLM structures, it has not been declared illegal. However, experts advise caution due to regulatory uncertainties and lack of transparent financial audits.
Q: Which exchanges will list Pi after launch?
A: Confirmed listings include OKX, Bitget, and MEXC. HTX plans to list real Pi tokens post-launch. Always verify announcements directly through official exchange channels.
Final Outlook: A High-Stakes Launch Ahead
As February 20, 2025 approaches, all eyes are on Pi Network. The convergence of exchange support, rising prices, and global user anticipation sets the stage for one of the most watched crypto launches of the year.
Success will depend not only on technical execution but also on how well the community navigates market dynamics and regulatory expectations.
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For investors and enthusiasts alike, Pi’s journey from mobile mining app to Mainnet contender offers a compelling case study in decentralized innovation—and the risks that come with it.
Core Keywords:
Pi Network, Pi token, Mainnet launch, Open Network 2025, exchange listings, IOU trading, cryptocurrency volatility, blockchain adoption