Since launching its Open Network on February 20, 2025, Pi Network has evolved from a mobile-based mining experiment into a major player in the cryptocurrency space. With over 60 million active users—referred to as Pioneers—the project has crossed a critical threshold: transitioning from a closed ecosystem to an open, tradable blockchain network. This shift has enabled real-world trading of the PI token, leading to growing exchange adoption and daily trading volumes exceeding $100 million.
While early listings on platforms like OKX, Gate.io, BitGet, MEXC, and BitMart have boosted visibility and liquidity, the next pivotal milestone lies in securing listings on top-tier centralized exchanges (CEXs)—particularly Binance and Coinbase. Their inclusion could act as a powerful catalyst for broader market acceptance and long-term price sustainability.
Rising Exchange Adoption: PI Token Hits $100M+ Daily Volume
The PI token is now actively traded across several established crypto exchanges, with OKX leading in terms of liquidity. The PI/USDT trading pair consistently records high volume, contributing significantly to the token’s overall 24-hour trading volume surpassing $100 million.
This level of trading activity signals strong market interest and reflects the network's transition from a speculative concept to a functional digital asset. The circulating supply currently stands at 7.26 billion PI, drawn from a total maximum supply of 100 billion tokens—a figure that has sparked debate among investors and analysts.
👉 Discover how high-volume trading impacts emerging cryptocurrencies like PI.
While substantial supply can support scalability and widespread distribution, it also raises concerns about long-term price pressure, especially if large volumes enter the market simultaneously. However, the current trading dynamics suggest that demand is balancing early sell-side pressures, at least in the short term.
Exchanges such as Gate.io and MEXC have already completed Pi Network’s KYB (Know Your Business) verification process—a prerequisite for deeper integration and sustained listing support. This compliance milestone underscores growing institutional confidence in Pi’s legitimacy and operational transparency.
Why Binance and Coinbase Listings Are Crucial for PI’s Future
Despite growing traction, PI remains absent from the two most influential exchanges in the crypto world: Binance and Coinbase. Their absence limits PI’s exposure to mainstream retail investors, institutional traders, and global markets.
In early 2025, over two million Pioneers participated in a community vote advocating for a Binance listing, with 86% voting in favor. While this demonstrates overwhelming grassroots support, Binance has remained silent on the matter. Historically, Binance evaluates new assets based on multiple criteria including:
- Regulatory compliance
- Blockchain security and decentralization
- Tokenomics and supply distribution
- Market demand and trading viability
One potential technical hurdle may be Pi Network’s independent blockchain architecture, which does not run on the BNB Smart Chain—a common standard for many Binance-listed projects. Integration would require additional development work or bridging solutions.
As for Coinbase, the exchange has maintained a cautious stance. Although a cryptic tweet from its legal chief during Pi Day 2025 fueled speculation, no official engagement followed. Coinbase typically prioritizes regulatory clarity and long-term compliance, meaning PI must demonstrate not only popularity but also robust governance, transparent operations, and clear utility.
Without listings on these flagship platforms, PI risks being perceived as a community-driven project lacking institutional validation—even with strong user engagement and trading volume.
👉 Learn what it takes for a new cryptocurrency to get listed on major exchanges.
Market Analysis: PI Price Trends, Support Levels & Technical Outlook
As of late May 2025, the PI token is trading around $0.71, showing signs of a bearish trend amid fading momentum. Technical indicators suggest market indecision, with both MACD and RSI pointing toward neutral conditions.
Key Price Levels:
- Resistance: $0.7372 – A break above this level could signal renewed bullish momentum.
- Support: $0.70 – This psychological and technical floor is critical; failure to hold could lead to further downside toward $0.68 or lower.
The MACD (Moving Average Convergence Divergence) shows weak upward momentum, though the histogram remains slightly positive—indicating potential for a short-term rebound if buying pressure increases. Meanwhile, the RSI (Relative Strength Index) sits near 50, reflecting balanced market sentiment without clear overbought or oversold signals.
Market watchers note that recent price corrections followed periods of rapid appreciation fueled by speculative excitement rather than fundamental developments. This "euphoria-driven" movement may have contributed to the current consolidation phase.
For sustained growth, PI needs more than just trading volume—it requires real-world utility, exchange credibility, and developer activity to justify long-term valuation.
Frequently Asked Questions (FAQ)
Is Pi Network legitimate?
Yes, Pi Network is a legitimate blockchain project that transitioned to an Open Mainnet in February 2025. It has undergone KYB verification by multiple exchanges and supports real transactions and trading.
Why isn’t PI listed on Binance or Coinbase yet?
While exact reasons haven’t been disclosed, potential factors include technical compatibility issues (e.g., non-BSC chain), ongoing regulatory assessments, and the need for further ecosystem maturity before meeting listing standards.
What is the total supply of PI tokens?
The maximum supply of PI is capped at 100 billion tokens, with approximately 7.26 billion currently in circulation. This large supply model aims to support mass adoption but may impact price appreciation unless demand grows proportionally.
Can I mine PI on my phone now?
Mining through the mobile app ended upon Open Network launch. Users who mined during the closed phase are migrating their balances through KYC verification to access tradable tokens on the mainnet.
Does PI have real-world use cases?
Currently, PI is primarily used for peer-to-peer transactions within its ecosystem. Developers are building dApps and payment integrations, but widespread utility is still evolving.
How does high trading volume affect PI’s price?
High volume indicates strong interest and liquidity, which supports price stability and attracts traders. However, without corresponding utility or exchange credibility, volume alone cannot sustain long-term value.
👉 Explore how emerging tokens build real-world utility after mainnet launch.
Final Thoughts: What’s Next for Pi Network?
Pi Network has achieved remarkable user growth and initial market traction since going live on Open Mainnet. With over $100 million in daily trading volume and listings on reputable exchanges like OKX and Gate.io, the foundation is set for broader adoption.
However, the path forward hinges on overcoming key challenges: securing listings on Binance and Coinbase, demonstrating tangible utility beyond speculation, and managing the implications of its massive token supply.
For investors and Pioneers alike, the coming months will be decisive. A listing on a top-tier exchange could ignite renewed confidence and drive significant price momentum. Until then, PI remains a high-potential project navigating the complex intersection of community energy, technical execution, and market validation.
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