As we venture into 2025, Pi Network stands on the precipice of both promise and uncertainty. What started as a daring experiment to make cryptocurrency mining accessible to anyone with a mobile phone has quickly evolved into one of the most debated projects in the blockchain space.
With over 60 million registered users, 14+ million KYC-verified “Pioneers,” and 6 million mainnet migrants, the Pi network is transitioning into its Open Network phase. But as it pushes forward, one fundamental question remains: How strong will Pi Network be in 2025?
What is Pi Network’s vision for cryptocurrency?
The success of the Pi ecosystem has always been about accessibility, a vision that shapes its future in 2025. Co-founded by Dr. Nicolas Kokkalis and Dr. Chengdiao Fan, with initial development beginning in late 2018, leading to the Pi Network’s public launch in March 2019.
The platform was designed to lower barriers to entry in cryptocurrency. Unlike Bitcoin, which requires high-powered ASIC machines to mine, Pi (π) allows users to mine on smartphones without excessive battery or energy consumption. This innovation positioned Pi as the “people’s cryptocurrency,” particularly for users in developing countries excluded from traditional mining by the cost of, and a lack of access to, the necessary hardware.
By March 14, 2019 (Pi Day), Pi Network officially launched mobile mining, setting itself apart from traditional models. Dr. Kokkalis — Head of Technology — a computer scientist specializing in decentralized systems, built Pi’s blockchain protocol on an energy-efficient Stellar Consensus Protocol (SCP). Dr. Fan — Head of Product — and a social scientist, championed the network’s decentralized engagement model, ensuring Pi’s adoption relied on community participation rather than institutional backing.
This mobile-first approach attracted a massive following, with Pi (π) gaining over 10 million pioneers by December 2020 and surpassing 33 million by mid-2022. The trajectory continued, and by early 2025, over 60 million users had registered, with 14+ million verified through KYC. However, the challenge is whether this large user base translates into active participation or remains a dormant speculative community.
What milestones has Pi reached in its open network transition?
The Open Mainnet launch in February 2025 marked a watershed moment for Pi. Since its Enclosed Mainnet phase in December 2021, Pi’s transactions were restricted to internal transfers, with no external liquidity or exchange listings. This phase allowed the ecosystem to grow in a controlled environment.
With the Open Network, Pi (π) now facilitates external wallet transfers, decentralized applications (dApps), and real-world transactions. The transition also saw the launch of “.pi” domain auctions, where users could purchase blockchain-based domain names using Pi (π) coins, adding utility to the token.
Pi Day, celebrated on March 14, 2025, saw the launch of PiFest, a global initiative encouraging merchants to accept Pi payments. Thousands of small businesses across Asia, Africa, and South America participated, testing Pi’s viability as a real-world payment system.
Market reactions were mixed. In February, Pi’s price saw a 36% surge within an hour of its launch, peaking at $3.41 and driven by excitement surrounding its mainnet transition. But a subsequent correction saw prices stabilize around $1.50–$2.00 by mid-March, according to CoinGecko. Analysts pointed to a high volume of sell orders from pioneers who had waited years to liquidate their holdings.
For instance, on February 21, Pi recovered 73% from a day-one crash, trading at $1.24, with a market cap of $8.6 billion, as per CoinMarketCap data, but crypto market analyst like Kim H Wong noted that Pi’s trading activity has been disappointing post-launch, “as pioneers keep selling and buy orders smalls,” averaging only a few hundred Pi at a time, or at most 1,000 (π).
Despite this, Pi Network’s estimated market capitalization of $9.16 billion places it among the top 15 cryptocurrencies, even though it is yet to be widely listed on major exchanges like Binance or Kraken.
Rumours of a Binance listing are, however, currently circulating online.
Pi (π) live price chart. Source: CoinMarketCap
How does Pi compare to its competitors?
Pi Network’s large userbase, with over 50 million registered users and 6 million migrated “Pioneers,” demonstrates impressive reach. But reports indicate that while millions have mined Pi (π), active daily wallet users peaked at only 42,136 in January 2025, averaging 20,000 transactions per day. Compared to Bitcoin’s 370,000+ daily transactions or Ethereum’s over 2.7 million, this is relatively low.
Pi’s competitors also have significant advantages in market presence and infrastructure. A March 2025 comparative analysis places Pi against Bitcoin and Solana:
| Metric | Pi (π) Network (March 2025) | Bitcoin (March 2025) | Solana (March 2025) |
| Price | ~$1.32 | ~$83,615.98 | ~$126.16 |
| Market Cap | ~$9.14B | ~$1.65T | ~$64.1B |
| Circulating Supply | 6.9B | 19.83M | 510.05M |
| User Base | >60M registered | ~100M (estimated) | ~10M (estimated) |
| Mining Accessibility | Mobile, low-energy | High energy, hardware | Staking, moderate |
The figures show that Pi Network 2025 excels in accessibility and community size, but it lags behind in liquidity and infrastructure. Bitcoin and Solana boast high-volume DeFi and NFT applications, while Pi’s dApp ecosystem remains in early development.
Building the Pi economy: dApps, tokenomics, and security
Pi Network’s growth depends largely on its ability to build a sustainable ecosystem. The network has introduced several dApps, including:
- Pi Exchange – a decentralized trading platform
- Pi Identity – a blockchain-based identity verification system
- Pi EduCenter – a platform where users can access courses using Pi tokens.
These applications, developed through Pi’s Developer Sandbox Program, showcase the potential for real-world utility. To add, recent hackathons have led to new dApps, such as a decentralized freelancing platform and a Pi-powered gig economy marketplace.
Pi’s security is built on the Stellar Consensus Protocol (SCP), which enables Byzantine Fault Tolerance, ensuring transaction integrity. Blockchain expert Kim H. Wong opines, “SCP is designed to be fast, scalable, and energy-efficient, which makes it a great choice for a cryptocurrency like Pi Network.”
Meanwhile, Pi’s tokenomics model follows an exponentially declining issuance, reducing mining rewards over time to drive scarcity. Since Pi Network’s launch, the base mining rate initially halved four times, starting at 3.14 Pi/hour and reaching approximately 0.196 Pi/hour when the network reached 10 million pioneers in December 2020. In March 2022, the mining rate formula was updated to a dynamic adjustment based on monthly supply limits, and as of March 2025, the base mining rate is approximately 0.0029 Pi/hour, reflecting the network’s growth to over 60-70 million pioneers.
What regulatory risks does Pi Network face?
Despite its technological promise, π faces significant regulatory scrutiny. Some critics, like Colin Wu, a prominent crypto journalist, questions its referral-based mining model, which resembles multi-level marketing (MLM) structures. The SEC and other regulators have yet to issue a definitive stance, but potential investigations could impact Pi’s global adoption. Yet, fairer regulatory clarity stemming from the GENIUS Act, for example, or President Trump’s established Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile, may support Pi Network’s roadmap to success in 2025.
A report, however, also warns that Pi’s (π) unconventional methodology could draw regulatory heat, limiting exchange listings and institutional adoption. This remains one of the biggest risks to Pi’s longevity.
How strong will Pi Network be in 2025?
Pi Network stands at a defining moment. Its strengths — a massive user base, mobile-first mining, and increasing real-world adoption — give it a competitive edge. However, its low transaction activity, post-mainnet volatility, and regulatory risks pose significant hurdles.
If Pi can successfully expand its dApp ecosystem, secure major exchange listings, and drive real-world merchant adoption, it could rival Solana or even challenge Ethereum’s dominance in mobile-first decentralized applications.
Ultimately, Pi Network’s 2025 trajectory hinges on its ability to convert hype into sustainable growth. If it succeeds, it could be strong in 2025. Pi Network might become a major player in the crypto world. If not, it risks fading into obscurity like many other ambitious projects that came before it. Either way, the next few months will be crucial in determining its fate.
Author: Richardson Chinoyerem
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The editorial team at #DisruptionBanking has taken all precautions to ensure that no persons or organizations have been adversely affected or offered any sort of financial advice in this article. This article is most definitely not financial advice.
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