Pi Network has the crypto industry buzzing this week with its official launch on the open mainnet from the testnet on Thursday. With reportedly over 60 million users able to mine the coin on their mobile phones, as it transitioned from an enclosed environment to public trading, Pi has become among the most widely adopted crypto projects in terms of user count.
The ability to mine the coin on a phone without draining the battery or processing power has been a low-barrier entry for the coin to attract millions of users worldwide.
The initial trading phase on Thursday saw high volatility as Pi Coin jumped to $2 after debuting at $1.70 and then losing more than 50 per cent of its value within hours. This is similar to the nature of other altcoins or memecoins which lose their almost entire value after the initial hype due to a combination of market dynamics, weak fundamentals, and investor speculation which remains unsustainable.
So, should you bet on Pi Coin? That depends on multiple factors around its fundamentals, risks, and potential.
First, volatility is a major concern, Sathvik Vishwanath, Co-founder & CEO at crypto exchange Unocoin told FE Online.
“Like any new crypto asset, Pi’s price is highly unpredictable, and early adopters who mined it since 2019 are now selling in bulk, adding to the selling pressure. This means short-term fluctuations are inevitable,” he added.
Another point to consider is exchange support. While Pi Coin has made it to a few notable platforms, it’s still missing from giants like Binance, limiting its liquidity and global reach.
Further, regulatory uncertainty in India, said Vishwanath, is also something investors should watch closely as crypto regulations are still evolving, and any sudden policy changes could impact trading.
Pi Coin is the native cryptocurrency of the Pi Network, founded by Stanford PhD graduates Nicolas Kokkalis and Chengdiao Fan. Designed as a mobile-first, mineable cryptocurrency, its use cases include peer-to-peer transactions, merchant payments, and decentralized applications (dApps) within its ecosystem.
Before investing, Thangpandi Durai, CEO at crypto exchange Koinpark said it’s crucial to evaluate regulatory clarity, liquidity, exchange listings, project roadmap, and tokenomics.
“While its open mainnet launch has enabled trading, long-term success depends on ecosystem adoption, governance, security, and real-world utility. Investors should conduct thorough due diligence to determine if Pi Coin aligns with their financial strategy and risk appetite,” said Durai.
On the brighter side, Pi Network’s vision is ambitious. It aims to revolutionize digital payments by making crypto mining accessible to everyday users via mobile devices, without the energy-heavy mining processes of Bitcoin. “The network is working toward creating an ecosystem where Pi can be used for transactions, DeFi applications, and more,” said Vishwanath.
Hence, if you’re considering investing, do your due diligence. Pi Coin’s journey is still in its early days, and its real-world utility is yet to be fully realized.
Disclaimer: The suggestions/recommendations around cryptocurrencies in this story are by the respective commentator. Financial Express Online does not bear any responsibility for their advice. Please consult your financial advisor before dealing/investing in cryptocurrencies.
