Key Highlights
- The PI token from Pi Network experienced approximately 30% gains on Friday following Kraken’s listing announcement.
- As a tier-1 cryptocurrency exchange, Kraken’s decision represents significant external credibility for the Pi Network project.
- The platform employs a unique mobile application-based approach rather than conventional mining methods, boasting approximately 19 million verified users through KYC.
- Bybit’s chief executive previously declined to list PI, labeling it fraudulent based on a 2023 Chinese law enforcement advisory.
- The token currently trades on multiple platforms including OKX, Gate, and Bitget, alongside various smaller trading venues.
The PI token from Pi Network experienced substantial price appreciation during Friday’s Asian trading session. The rally followed a major announcement from cryptocurrency exchange Kraken regarding plans to list the digital asset.
Data from CoinGecko indicates that PI outperformed the overall cryptocurrency market, climbing approximately 30% within a compressed timeframe.
Kraken holds a reputation as a premier-tier cryptocurrency exchange. Its decision to list PI represents one of the most significant endorsements the Pi Network initiative has secured from external parties.
The digital asset currently has trading availability across multiple platforms, such as OKX, Gate, and Bitget, in addition to numerous smaller exchange services.
Pi Network distinguishes itself from typical cryptocurrency ventures through its operational approach. Rather than employing conventional proof-of-work mining protocols, the platform utilizes a smartphone-based trust network requiring users to interact with a mobile application daily for token rewards.
This framework establishes identity-verified security networks that integrate into a consensus algorithm adapted from the Stellar protocol.
Journey Toward Open Mainnet Transition
The initiative activated its externally accessible mainnet during February 2025. The project disclosed approximately 19 million users who completed KYC verification and around 10 million successfully migrated accounts at that milestone.
Prior to the February 2025 activation, Pi Network functioned within an isolated environment for multiple years, limiting external connectivity and preventing exchange listings.
Kraken’s listing depends on Pi Network successfully completing its Open Mainnet transition. This developmental stage would enable PI to trade freely beyond the project’s restricted internal ecosystem.
The Pi Core Team established three requirements for launching the Open Mainnet: finalizing KYC verification for a substantial portion of its community exceeding 35 million members, developing practical utility applications, and encountering advantageous market dynamics.
Tokens presently exchanging under the PI designation on certain platforms represent IOUs rather than official tokens endorsed by the Pi Core Team. A Kraken listing would feature authentic PI tokens.
Token Supply Under Scrutiny
Pi Network maintains a complete token allocation of 100 billion units. This substantial supply remains a consideration that market analysts frequently emphasize when evaluating the token’s valuation potential.
Notwithstanding the positive listing developments, the project encounters ongoing skepticism. Ben Zhou, Bybit’s chief executive, openly rejected listing PI during February 2025, characterizing it as fraudulent.
Zhou referenced a 2023 advisory from Chinese law enforcement authorities, which claimed Pi Network exploited elderly individuals, harvested personal data, and resulted in some victims depleting their retirement funds.
Pi Network has not issued comprehensive public statements addressing these particular accusations in depth.
Friday’s 30% price increase positioned PI among the strongest-performing digital assets that trading day, based on CoinGecko metrics.
Kraken has not announced a definitive listing date beyond its provisional March 2026 timeframe.
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