In this article, we will delve into the latest updates of Pi Network, their significance, and the positioning of Pi Coin within the cryptocurrency ecosystem.

What is Pi Network?

Pi Network is known as one of the few cryptocurrency projects that can be mined on a smartphone. Unlike traditional cryptocurrencies, it does not require special equipment and can be mined daily using a smartphone, earning it widespread recognition as “cryptocurrency for the general user.”

However, Pi Network is not just a virtual currency; its true value lies in its ecosystem and utility. This was the point emphasized in the announcement on March 14, 2025.

Important Announcement on March 14: Pi Network Reveals New Strategy

Pi Network made a significant announcement on March 14, 2025 (UTC, early morning March 15 in Japan time), on the symbolic day known as Pi Day, attracting considerable attention in the cryptocurrency industry. This announcement was published on the official X account around 10:51 AM JST on March 15, causing a stir in the community.

Introduction of Pi Domains

One of the most notable announcements was the introduction of “Pi Domains.” This is a new domain system specifically for the Web3 environment, providing the “.pi” domain extension that operates within the Pi Network ecosystem. Similar to “.com” or “.org” on the internet, it can be used directly in the Pi Browser and compatible third-party wallets, and can be acquired using Pi cryptocurrency through an auction format via domains.pinet.com. This provides a foundation for developing businesses and projects in the Web3 world.

“Just as you need a domain to have a website in the internet world, you will need a .pi domain to establish a presence in the Web3 world.”

Open Network PiFest

Open Network PiFest, which started on March 15, is an initiative connecting local merchants who accept Pi payments with Pioneers, and it will be held until March 21. This event is positioned as the first global opportunity to leverage the external connectivity of the Open Network and promote the real-world use of Pi.

Mainnet Migration Final Deadline

March 14, 8:00 UTC (March 14, 17:00 JST) was the final deadline for Pi Network’s Mainnet migration. Users who did not complete KYC verification and Mainnet migration by this deadline were confirmed to lose most of their Pi balance, excluding the mining rewards from the most recent six months. Pi Network had previously offered multiple extensions, but this was the final deadline.

Pi Network’s Ecosystem and Utility

While many cryptocurrency projects focus solely on price increases, Pi Network emphasizes building utility and an ecosystem. This strategy is expected to be a significant differentiator in the long term.

Platform-Level Utility

Platform-level utility is conceived and built by the Pi Network core team and differs from individual app-level utility. It leverages Pi’s collective resources and supports the foundation of Pi as a currency available to all Pioneers. For example, the .pi domain auction directly utilizes the attention and trust of the Pi community, generating real-world value through transactions in Pi cryptocurrency.

Importance of Utility

The true value of cryptocurrency is not just in trading for profit, but in having actual use cases. Pi Network is focused on building a practical ecosystem by creating an environment where users can purchase goods and services using Pi Coin.

Pi Network’s Applications and Scalability

Pi Network is not just a cryptocurrency but also functions as a platform for decentralized applications (dApps). Users can access these applications or use services by using Pi Coin. Through this strategy, Pi Network aims to establish a unique position.

Changes in Mining Rate and Their Impact

Based on past official announcements, Pi Network’s mining rate has gradually decreased and is currently adjusted to a very low level (the specific figure is not officially updated as of March 2025, estimated to be around 0.0029 Pi/hr). This is a strategy to limit the supply of Pi Coin and maintain its value.

Demand and Supply Dynamics

If supply is limited and demand is maintained or increases, an increase in value is expected based on economic principles. Also, some reports suggest that the circulating supply is decreasing, indicating that users may be holding onto their Pi Coin more strongly.

Current Market Status of Pi Network

Pi Coin has attracted attention in the market after the launch of the Open Network. For example, as of March 15, the estimated price was reported to be around $1.67 on some exchanges, with analysis suggesting a 13.89% increase in the past 24 hours. The market capitalization is approaching approximately 12 billion dollars, and some market voices claim a 143.58% increase in trading volume (however, official data is unconfirmed). Binance has not made any official announcement regarding the listing of Pi Network at this time, and the listing confirmation expected by some in the community on Pi Day did not materialize.

Comparison of Pi Network with Other Cryptocurrencies

Comparison with Bitcoin

Bitcoin is often used as “digital gold” for investment and value storage, but its utility is limited. On the other hand, Pi Network focuses on building an ecosystem that promotes daily use.

Comparison with Ethereum

Ethereum is excellent as a platform for smart contracts and dApps, but high gas fees are a challenge. Pi Network prioritizes accessibility and ease of use, designed for general users.

Future Outlook for Pi Network

Positioning in Web3

Through the “.pi” domain, Pi Network aims to establish itself as a foundational infrastructure provider in the Web3 world. There is a possibility that future Web3 projects will be built on Pi Network, and the expansion of the ecosystem is expected.

Community Growth

As of March 2025, according to official announcements, Pi Network has grown into a community with over 60 million Pioneers, over 19 million KYC-verified users, and over 12 million Mainnet migrated users. This large community supports the value of Pi.

Relationship with Exchanges

Pi Coin is already listed on some exchanges, but if it is listed on more major exchanges in the future, its recognition and value may further increase. However, the true value of Pi Network lies in the utility of its ecosystem, not just the trading price.

Summary: Pi Network Shows New Possibilities for Cryptocurrency

Pi Network’s announcement on March 14 demonstrated new possibilities in the world of cryptocurrency. As a cryptocurrency with a practical ecosystem, not just a speculative asset, Pi Network is promoting adoption and increased usage. To summarize the key points:

• Pi Network introduces the “.pi” domain, providing foundational infrastructure for Web3
• Decreasing mining rate potentially increases the scarcity of Pi Coin
• March 14 was the final deadline for Mainnet migration, PiFest starts from March 15
• Focus on utility and ecosystem building
• Large community of over 60 million Pioneers
• Unique approach promoting general user adoption

The world of cryptocurrency is constantly changing, but Pi Network is building a unique position by focusing on utility and accessibility. Future developments are worth watching.