On February 20, 2025, at 8:00 AM (UTC), the Pi Network officially transitioned to the open network. This transition allows Pi tokens to be traded on external wallets and some exchanges, which is expected to further increase its visibility in the cryptocurrency market.
What is the Transition to the Open Network?
Previously, the Pi Network operated as a “closed ecosystem,” with transactions limited within the ecosystem. During this phase, the completion of the KYC (Know Your Customer) process and the development of applications within the ecosystem were underway. However, with the transition to the open network, trading on external wallets and exchanges has been unlocked, allowing it to function as a complete cryptocurrency.
Market Ranking 13th: The Growth of Pi Network
As of February 25, 2025, according to some market data, the Pi Network ranks 13th in cryptocurrency rankings, with an estimated market cap of approximately 10 billion dollars. However, Pi tokens may currently be traded on an IOU (I Owe You) basis, and the official market value depends on future developments.
Comparison with Major Cryptocurrencies
- Bitcoin (BTC): Market Cap $1.90 Trillion
- Ethereum (ETH): Market Cap $328.71 Billion
- XRP: Market Cap $144 Billion
Compared to these, the Pi Network is still an emerging force, but its growth rate is attracting attention.
Price Volatility and Liquidity Issues
Immediately after the open network transition, the Pi token reportedly recorded an initial price of approximately $1.97 on some exchanges, then temporarily dropped to $0.73, but has since recovered to around $1.57 (based on the latest information as of February 25, 2025). This rapid fluctuation is due to market liquidity shortages and investor sentiment. Some cryptocurrency analysts point out that this price instability is caused by market liquidity shortages and speculative trading, which could pose challenges to long-term stability.
Summary
The Pi Network has successfully transitioned to the open network and has achieved a high ranking of 13th in market rankings. However, challenges such as price volatility and liquidity shortages remain, and future developments are being watched closely. By utilizing SEO optimization when publishing the latest information about the Pi Network, it is expected to reach a wider audience. Let’s keep an eye on the trends in the cryptocurrency market and the further growth of Pi.