Pi Coin, a new player in the crypto market, has been on a rollercoaster ride. After launching its Open Mainnet on February 20, the coin’s price shot up over 300percent, reaching USD2.94. However, it later dropped 11.1percent to USD2.49. As of February 28, 2025, Pi Coin is trading at around USD2.69, with a daily trading volume of USD3.09 billion. In India, the price is about Rs.201.13 per Pi (CoinGecko).
Over the past week, Pi Coin’s price has fluctuated between USD0.70 and USD2.86, showing high volatility. This drop is part of a broader crypto market sell-off, influenced by regulatory concerns, Donald Trump’s tariff policies, and the recent USD1.5 billion Bybit hack. Even major cryptocurrencies like Bitcoin and Ethereum have lost between 6.6percent and 8.6percent during this time.
Why Is Pi Coin So Volatile?
Many factors are driving Pi Coin’s rapid price swings as under:-
Mainnet Launch: The launch of Pi Network’s Open Mainnet allowed users to move their mined coins outside the network, sparking excitement and buying activity.
Exchange Listing Rumors: Many investors are hoping that Pi Coin will be listed on big exchanges like Binance. A Binance community poll showed 86 percent support for the listing, though no final decision has been made.
Market-Wide Crypto Crash: Large investment firms like BlackRock have been selling off Bitcoin and Ethereum, weakening the entire crypto market.
Regulatory and Economic Issues: Tensions between the U.S. and China, along with uncertain crypto regulations, have added to the uncertainty.
Pi Coin Faces Doubts and Criticism
In spite of its rapid growth, Pi Coin underwent criticism from industry experts. Bybit CEO Ben Zhou has called it a scam, warning that it targets older investors. Some also compare it to pyramid schemes due to its unclear market value.
Crypto journalist Colin Wu has questioned Binance’s interest in Pi Coin, saying that prioritizing growth over security could hurt the exchange’s reputation.
What Is Pi Network?
Pi Network was founded in 2019 by Stanford graduates as a blockchain project that lets users mine cryptocurrency on their phones, unlike Bitcoin, which requires heavy computing power. The network claims to have millions of users mining Pi daily to help build a Web3 app ecosystem.
The project promotes itself as an energy-efficient way to mine crypto, with a simple daily tap on the app being enough to earn Pi Coins.
Where and How to Buy Pi Coin?
Pi Coin is currently available on exchanges like CoinDCX, OKX, and Bitget. To buy Pi Coin, users need to: Download a supported crypto exchange app. Complete the KYC (Know Your Customer) process. Deposit the needed amount into their wallet. Place an order to purchase Pi Coin.What is Next for Pi Coin?
Experts have mixed opinions on Pi Coin’s future. Some believe it could surpass USD500 by 2030 if it gains real-world use. However, coin market experts say that without clear utility and transparency, it remains a risky investment.
Pi Coin has a total supply of 10.11 billion and a maximum cap of 100 billion. But there is uncertainty over how much of it is actually circulating, making it a risky bet for investors.
Pi Coin has caught attention with its rapid rise, but doubts about its legitimacy remain. The Open Mainnet launch was a major step, but concerns about transparency and security still exist.
With the market in turmoil and big exchanges yet to confirm its listing, Pi Coin’s future is uncertain. While it has growth potential, the risks are just as high. Investors should be cautious and do their own research before trading.