Pi Network Gains Exchange Support Ahead of Mainnet Launch

Pi, the token of Pi Network’s Open Network, is gearing up for its mainnet launch in February 2025 with a series of new exchange listings.

This week, Pi Network revealed that its transition to the Open Network phase would officially commence on February 20, 2025. In response, exchanges have moved quickly to list Pi in anticipation of the launch. OKX was the first to confirm its support, followed by Bitget, which introduced the PI/USDT trading pair. MEXC also joined in, officially listing the token.

In contrast, HTX (formerly Huobi) has opted to cease its Pi IOU trading six days before the mainnet launch. The exchange will offer users Tether (USDT) at a rate of 1:61.28, based on the last recorded Pi price before the suspension. Once Pi’s mainnet goes live, HTX plans to list the real Pi token and begin spot trading.

Despite growing exchange support, Pi Network has faced skepticism. Bybit CEO Ben Zhou expressed doubts about Pi’s potential, while analysts have pointed out the risks tied to its user base and its controversial marketing structure. Critics warn that Pi’s relatively inexperienced investors could contribute to higher price volatility, and the multi-level marketing model has sparked legal concerns. However, the market responded positively, with Pi’s IOU price reaching a high of $71.2 after the news.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.