The controversial cryptocurrency project Pi Network debuted in 2019, but the trading of its native token, PI, is expected to commence only in February 2025.

In the last year, the Core Team has implemented multiple upgrades as part of the ongoing development of the ecosystem. However, the price of PI has plummeted significantly; currently, it stands at around $0.17, representing a staggering 94% decrease from its all-time high. Critics within the community have raised concerns as the project faces various challenges, including decreased market interest and allegations of potential scams.

Celebrating One Year of Pi

One year ago, the Pi Network officially launched its Open Network, allowing for public access to PI and enabling its listing on exchanges like Bitget, OKX, and MEXC. On the launch day, PI was valued between $1.68 and $1.72, and its market cap soared to over $18 billion, placing it among the top 15 cryptocurrencies.

However, this peak was short-lived, with the price declining rapidly due to factors such as continuous token unlocks, decreased interest from users, and delays in listings on larger exchanges like Binance, which held a community vote where 86% expressed a desire for PI to be listed. Despite a few brief price recoveries driven by updates from the Pi Network team, the current trading price suggests ongoing difficulties for the currency.

Looking to the Future

Community members are optimistic for 2026, speculating on significant upgrades that might reinvigorate interest in PI, including the activation of the Pi DEX in March. There is also speculation regarding listings on additional exchanges like Kraken.

Overall, while the past year has been challenging for Pi Network, the community remains hopeful for a turnaround as developments unfold.