In 2025, the Pi Network mainnet was finally launched after over six years of delays. These delays were mostly due to problems with KYC processes (Know Your Customer), which are checks required to verify a user’s identity on platforms. Early in the year, Pi Network’s token, PI, came out on several exchanges. It hit a high price in February, then dropped by almost 95%. Let’s take a closer look at what happened this year.
Pi Network’s Journey in 2025
The Pi Network community was getting frustrated with continuous delays. Promises to release the mainnet were pushed back many times, especially during the end of 2024 and the start of 2025. However, on February 19th, Pi Network launched its mainnet, bringing the PI token to major cryptocurrency exchanges like Bitget, OKX, and MEXC. These are platforms where people can buy, sell, and trade cryptocurrencies.
Following the launch, people were excited about Pi Network. The team gave users more time to complete KYC checks and brought back PiFest, which is a celebration or event dedicated to Pi Network users. They also introduced a noteworthy initiative called the “.pi domain” registration. This program allowed community developers to reserve web addresses specifically for Pi apps. In March, the team and community also celebrated Pi Day together.
After PiFest, the team shared plans to expand the Pi Ad Network. This network works with Pi-based apps to help advertise them to users. New features for wallets were also introduced in May, making it easier for users to activate their wallets. Around mid-May, people in the community spread rumors that the PI token would be listed on Binance, the world’s largest cryptocurrency exchange. While these claims sparked excitement, they turned out to be false.
Instead of a Binance listing, Pi Network announced Pi Network Ventures—an investment fund with $100 million aimed at supporting innovative businesses that could use Pi tokens. Toward the end of June, the team focused on gamers by holding an ecosystem challenge for users, called Pi2Day. They also entered the world of AI by unveiling Pi App Studio for developers creating apps with AI tools.
During summer, Pi Network launched its first Hackathon, a coding competition for developers. This event ran for several months, ending in October. The winners were revealed in December. In the meantime, co-founders of Pi Network attended conferences, such as TOKEN2049 in Singapore, which is a large event focused on blockchain and cryptocurrencies. A major announcement made there revealed the launch of Pi DEX (Decentralized Exchange) and AMM liquidity pools, which help people trade cryptocurrencies without relying on centralized systems.
As the year progressed, Pi Network simplified its KYC processes for faster completion. October brought updates to Pi App Studio, and Pi Network Ventures made its first investment in a startup called OpenMind. In November, the network upgraded to version 0.5.4, introduced more features for Pi App Studio, and partnered with CiDi Games to grow Web3 (blockchain-based) gaming opportunities.
December wrapped up with festive activities for Pi Network users and further updates to Pi DEX and AMM functionalities.
How PI Token’s Price Changed
After launching on exchanges like Bitget, OKX, and MEXC in February, the price of PI token surged to $2.99—a new record high. However, this success didn’t last long. By October, its value dropped dramatically to $0.172, losing almost 95% of its worth from its February peak. As of now, PI is trading around $0.20, meaning it’s still down about 92–93% since its early highs.
During the year, the token’s price briefly jumped after big announcements or rumors. For example, when speculation about a Binance listing spread in May, PI’s price rose to $1.70. But after this rumor was proven false, its price fell again. On the bright side, PI managed to maintain support around $0.20 and didn’t drop further. Some experts in AI predict that PI could see better days in 2026, under certain conditions.